Best Practices for Increasing Sales Commission Transparency
Learn how Optus, the second largest telecommunications company in Australia, streamlined their sales commissions process and dramatically improved transparency for sales reps, managers and executives alike. Today they leverage Performio to manage commissions for 2500 sales reps, representing 40% of their employee base, across 12 business units.
Register for the webinar and discover how they overcame these sales compensation challenges:
- Outgrown their legacy in-house solution
- Ineﬃcient and manual Excel-based process
- Highly complex plans that change frequently
- Auditing and compliance
- Source system data issues
In addition, you will get best practice advice on selecting and implementing an Incentive Compensation Management solution. Register for the March 25th webinar today!
Best Practices Kit: 5 Key Considerations When Buying An ICM Solution
Build the Business Case with a True ROI
Are you ready for Incentive Compensation Management?
Properly implemented, incentive compensation management software enables organizations to automate sales commission calculations, easily communicate sales comp to reps, and provide actionable insights by having all sales comp data in one place. By investing in an incentive compensation management solution, companies can dramatically reduce the cost and pain of managing sales comp and increase revenue by offering their sales team clear visibility into their performance against targets.
Before you embark on your ICM initiative, make sure you’ve given time to consider the factors that can spell the difference between success and failure. In this kit, we outline 5 key considerations when evaluating whether to invest in an ICM solution. By adhering to these important steps, you can ensure you have a successful project and do not risk a failed implementation.
What You Will Learn in this Best Practices Kit- 5 Key Considerations:
- Lay the Essential Groundwork
- Start with the End in Mind
- 6 Key Areas to Consider when Evaluating ICM Vendors
- Identify the Internal Evaluation Team and Start Plan
- Make the Business Case by Developing the Strongest ROI
- Start with the End in Mind
A Buyer’s Guide to Incentive Compensation Management Software
Spreadsheets and inflexible legacy compensation management systems are a roadblock. Despite the opportunity, much of sales compensation is still dependent on spreadsheets, even though 90% typically contain hidden errors. Even organizations running traditional Incentive Compensation Management (ICM) and Sales Performance Management (SPM) systems still heavily rely on spreadsheets, due to the inflexibility of these legacy apps. Yet spreadsheets and their associated problems can have a painful impact.
Errors damage sales trust. Sales ends up wasting time in “shadow-accounting” (doublechecking their commissions). This often leads to poorly designed compensation models that result in lop-sided over-attainment or SPIFs that don’t drive ROI on spend. It’s why organizations are reexamining their sales comp systems and processes—whether moving from spreadsheets or re-evaluating the ease of use and flexibility of their existing sales comp software. One leading industry analyst predicts that by 2022 nearly half of B2B companies with more than 100-employees will deploy new solutions to tackle the problem of managing and automating sales comp.
What You Will Learn in this Guide:
1) How to ensure data flows and transformations don’t jeopardize comp
2) What to look for in a compensation plan builder so you don’t run out of runway
3) Which comp and payee workflows are essential - and common mistakes to avoid
4) The key questions to ask around reporting and analytics
5) Why many ICM solutions are so hard to use
6) How to ensure you won’t be left high and dry with service and support