Commission Tracking: Why it matters and how to do it right
It is no secret that some sales teams, if not all of them, are motivated to close deals faster by the commissions they will receive for meeting their sales quotas.
Sales Performance Management Solutions
Sales Performance Management (SPM) solutions improve operational efficiency and sales effectiveness by simplifying the administration of variable compensation processes and incentive programs for sales. Sales Performance Management focuses on driving desired sales behaviors, motivating and coaching sales teams, managing quotas and continuously identifying opportunities to improve sales performance.
Purpose-built platforms & functionality
Incentive Compensation Management
Boost sales performance by aligning sales teams with strategic objectives to achieve revenue targets. Improve plan effectiveness, incentives management and regulatory compliance. Adapt to market changes by quickly by assessing impact of disruptions on the business.
Territory & Quota Management
Maximize the revenue potential of every sales team member by optimizing market coverage. Pro-actively adjusting territories and quotas to account for market shifts and ensure territories and quotas are consistently aligned with revenue goals.
Reporting and Analytics
Leverage industry best practices combined with powerful analytical capabilities to gain insight into hidden performance drivers, trends and anomalies. Implement a data-driven, self-service approach to sales performance management through advanced reporting and ad-hoc analysis functionalities.
Automate Your Complex Processes And Scale With An Industry-Leading SPM Platform.
3 reasons why our SPM Solutions let you focus on your business
Fuel revenue growth in uncertain times
Outperform sales targets and drive exceptional growth during times of economic uncertainty through incentives based on actionable compensation and performance insights. Connect sales performance with revenue goals and budgets to maximize yield on financial resources. Set-up sales teams for success through sales plans designed to capitalize on evolving revenue opportunities in a volatile market.
Employ Powerful Analytics
Uncover answers to your most important questions about revenue outcomes. Identify high-ROI revenue opportunities, optimize pay versus performance effectiveness and improve sales team retention & productivity through actionable insights across all data such as compensation & HR, finance, product, customers and marketing.
Adapt to Market Changes
Take control of business results and build agility in sales strategy by accurately predicting outcomes of market disruptions. Model “what-if” scenarios to pro-actively anticipate areas of high impact in the business such as fluctuations in sales cycles, M&As, new incentive programs and market changes. Identify the best strategic and tactical moves in both revenue strategy and sales execution to exceed growth targets by evaluating multiple courses of action simultaneously.
FAQ - SPM Solutions
Sales Performance Management (SPM) is a data-driven approach to planning, managing and analysis of sales performance at scale, that motivates sales teams, generates results, and drives revenue growth. SPM helps companies reach their full sales potential and maximize their return of investment in sales. It can be broken down into the following 3 capabilities:
- Planning and Forecasting (including TQM)
- Incentives Management (ICM)
- Sales insights through Analysis and Reporting
Read more: What is Sales Performance Management?
Sales Performance Management enables the organization, from seller to executive, to track, monitor and adjust behavior for sales outcomes.
- Increased seller motivation & trust in compensation data due to enhanced visibility, transparency and accuracy of plan and payment details.
- Complex administrative functions are simplified and automated to ensure timely payment processing and flexibility to adjust and adapt changes with ease in a secure, accurate and auditable environment.
- Eliminate risks of over- & under-payments that would otherwise go undetected and adjust plans for optimal effectiveness through insights from advanced reporting & analytics at your fingertips.
- Better understand the impact of planned changes before roll-out through robust modeling and forecasting capabilities.
InnoVyne Insights
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