SALES INCENTIVE COMPENSATION FOR COMPANIES

Size: px
Start display at page:

Download "SALES INCENTIVE COMPENSATION FOR COMPANIES"

Transcription

1 SALES INCENTIVE COMPENSATION 101 FOR COMPANIES EMERGING

2 SALES INCENTIVE COMPENSATION BASICS Incentive compensation programs are an integral part of many companies culture and commission structure. In a recent study by WorldatWork, it was determined that 88 percent of organizations have a rewards and/or recognition program in place, and they are named as a key factor in employee recruitment and retention. Incentive compensation can be a very effective motivational tool for any business. With a system of bonuses based on performance in place, you can make sure that those who do well for the company are properly rewarded. This is even more important when it comes to sales incentive compensation. Giving salespeople a commission based on what and how much they sell is a motivational tool which encourages them to work harder and bring in as much revenue as they can. Some salespeople work entirely on commission, which makes a sales incentive compensation program even more essential. Just as essential as the program itself is making sure you have a way to implement it effectively. If your implementation is sloppy, or if you don t commit enough resources to the task, your salespeople might not get the compensation they deserve, and there may be errors or long delays in receiving payment. The quickest way to ruin the motivation behind an incentive is to delay payment. How do you implement an effective and efficient sales incentive compensation program in your company that both does what it s supposed to do and keeps everyone happy? Let s take a closer look. The first and most important aspect of incentive compensation is having a clearly defined plan for the compensation you re providing, so that everybody knows exactly what to expect. How much compensation are you planning on giving your salespeople? Is it based on the number of sales, or the value of each sale? Will the percentages go up with employee seniority, or will they be based on performance over time? If you already have an incentive compensation program implemented in your company, then you probably know the answers to these questions. Still, it s essential to have eveything documented so that everything is clear and accessible. Some companies choose to make their sales incentive compensation packages intentionally complicated and vague. For example, they may offer commission only on sales that are above a certain percentage of improvement over last year s sales. The thinking is that this will get their salespeople to work toward a goal without actually having to provide value for the thing they re working towards. This may seem like a quick and easy way to boost motivation and increase sales for a lower overall cost; however, in the end these tactics benefit no one. Sales can only improve if reps are given quantifiable and attainable goals. The more they re able to yield results for themselves, the more motivated they ll be to yield results for you. Once you have your sales incentive compensation plan clearly defined, you need to determine the payment schedule. Will compensation be given monthly or quarterly? What about SPIF s? What about gamification? Gartner found that by 2015, 40 percent of Global 1000 organizations will use gamification as the primary mechanism to transform business operations. Using gamification can help boost motivation and increase employee engagement. You may also choose to implement a long-term compensation plan. In this type of plan, typically a percentage of each salesperson s earnings are paid regularly and a percentage is held over for a period of time and placed in a seperate fund. The fund is then able to earn interest, and can make a good retirment package. Whatever payment system and schedule you decide on, it s important that you adhere to it religiously. You need to pay your salespeople what and when you ve promised them. This may seem like a given, but if you already have a sales incentive compensation plan in place, you know how hard it can be to keep on top of it, especially for small or medium sized businesses. There are so many little details to handle for each employee, and they can be easy to lose track of. Which is why, once you have your payment schedule firmly in place, the next thing your company needs is a sales incentive compensation management tool. There are two basic types of management tools that you can implement: a manual system or an automated tool. For the reasons outlined below, we strongly recommend an automated system. 88% of organizations have a rewards and/or recognition program in place and they are named as a key factor in employee recruitment and retention 1 SALES INCENTIVE COMPENSATION 101 FOR EMERGING COMPANIES SALES INCENTIVE COMPENSATION BASICS 2

3 WHY SALES INCENTIVES ARE USED There are many companies that do not use incentives of any kind for their salespeople. They pay their salespeople a salary, maybe a yearly bonus, and that s it. Chances are, that model is not working as well as it could. Why? Because human nature dictates that people like to be rewarded and recognized for their behaviors. In fact, a Globoforce survey found that 78 percent of workers said they would work harder if their efforts were better recognized and appreciated. People like to be compensated for their hard work, and they want that compensation directly tied to the specific actions they take to move your business forward. With the global trend of allowing employees to share in company profits, successful companies realize that sharing the wealth is absolutely critial to growth. In truth, most of them simply believe that it s the right thing to do. Treating salespeople like company owners can be a great move, and sales incentive compensation makes this possible. Empowered salespeople will be happier, feel more invested in the company, and produce more. So, how do smart emerging companies use incentive compensation to drive profitability? How do smart emerging companies use incentive compensation to drive profitability? BY SELLING HIGH VALUE, HIGH MARGIN PRODUCTS AND SERVICES BY CONNECTING SPECIFIC SALES BEHAVIORS WITH KEY METRICS AND KPI S BY SELLING PRODUCTS AND SERVICES THAT LEND THEMSELVES WELL TO UPSELLS AND REPEAT PURCHASES BY ATTRACTING AND EMPLOYING SALES PEOPLE THAT RESPOND TO ATTRACTIVE FINANCIAL (AND NON-FINANCIAL) INCENTIVES By focusing on these four factors, you can effectively use an incentive compensation program to fuel improved sales and positive morale among your sales team. 3 SALES INCENTIVE COMPENSATION 101 FOR EMERGING COMPANIES WHY SALES INCENTIVES ARE USED 4

4 88% of spreadsheets contain errors! MANUAL SALES INCENTIVE COMPENSATION The most basic way to manage your sales incentive compensation plan is by using spreadsheets on your computer. After all, the data in and of itself isn t that complicated; it s mainly just a bunch of figures. You enter in each sale for the month in one column, for the next month in the next column, and so forth. You can even program the spreadsheets to do basic math for you, so that it will figure out the commission for each employee automatically each month, based on the figures you input. However, problems arise when you consider the sheer volume of data coupled with the inevitability of humane error. In a small to medium size comany you may have anywhere from a couple of dozen to hundreds of salespeople on staff, and each one requires their own spreadsheet. Each of those spreedsheets needs to be kept careful track of, submitted to accounting evey month or quarter, and then submitted to payroll as well. Additionally, the potential for human error exists at every step of the process, and amid an avalanche of spreadsheets, those errors are unlikely to be spotted or corrected. In a recent study by MarketWatch, it was found that a shocking 88 percent of spreadsheets contain errors! There simply aren t enough resources to accurately manage an incentive compensation plan with spreadsheets. For a micro company with only a handful of employees, manual sales incentive compensation management might be feasible. But for an SMB, this way of doing things is behind the times, and will inevitably result in a catastrophic mess. No one is ever sure who owes what to whom, and looking it up takes forever, provided you re ever able to find the figures you need. Payments take ages to process, and can t be made with any kind of regularity. With this type of system in place salespeople never know when they re going to get their next incentive check until they re holding it in their hands. If you run an SMB you need to find a more practical option that inspires the sales behavior you want. 5 SALES INCENTIVE COMPENSATION 101 FOR EMERGING COMPANIES MANUAL SALES INCENTIVE COMPENSATION 6

5 AUTOMATED SALES INCENTIVE COMPENSATION An automated sales incentive compensation system is a SaaS (software as a service) platform that s designed to simplify the compensation process. It unites your sales data into one easy-touse interface that can keep track of all your records, employees, and incentives that have been or need to be paid. It can be accessed by any department in your company when and how they need it. This eliminates the need to send files around from one department to another. There are a plethora of benefits that a good automated sales incentive compensation platform can bring to your company, including: SAVING TIME When you have errors and discrepancies in your reports, or even the possibility of errors and discrepancies, it takes time to resolve them. Someone needs to pour over endless documents and search through piles of data in order to find the right figures and make the necessary corrections. This can waste countless hours of employee time - time that could be used much more productively elsewhere. Automated sales incentive compensation software greatly reduces the frequency of these errors, and when discrepancies do pop up, it makes it easy to find the proper data and correct things within minutes. This way, your company saves a tremendous amount of time and resources. EASY-TO-USE INTERFACE Rather than wasting time with tedious data entry, an automated system lets you streamline and take control of the process. All the data you want and all the tools you need to use it are together in one place, right at your fingertips. It can be implemented quickly and your entire company can be taught to use the new software with minimal training. This way, everyone is on the same page and you can see immediate improvement in your compensation practices. In addition, you can get updates instantly, rather than having to worry about keeping up with manually upgrading your software. CLOUD BASED FUNCTIONALITY In the past, software packages were installed individually on each computer in your office. Everyone used the same tools, but they used them separately. Sending information from one person or department to another had to be done manually. Not only was this a hassle, it made it difficult to integrate all of your data across the entire office, and ensure that everyone was on the same page. Nowadays, many SaaS platforms are based in the cloud, and your incentive compensation software should be no exception. Everyone can access the platform from wherever they are, and make updates to the database visible to the rest of the company in real time. This eliminates the needless back and forth of reports, and allows you to send your figures from sales to accounting to payroll in the blink of an eye. An automated sales incentive compensation system is a SaaS platform that is designed to simplify the compensation process. 7 SALES INCENTIVE COMPENSATION 101 FOR EMERGING COMPANIES AUTOMATED SALES INCENTIVE COMPENSATION 8

6 TRANSPARENCY Not only does cloud computing make things faster and more convenient, it also improves accountability. Every department has access to exactly the same figures and can check them from their point of view, virtually eliminating the possibility of overpaying or underpaying. In addition, management can keep an eye on the sales incentive compensation process to ensure that the entire operation is running smoothly. They can make adjustments to a particular compensation plan if necessary, so that it remains aligned with the company s overall objectives. SCALABILITY Your business may be small now, but over time you may grow, expand, and evolve this base. If you try to use the same compensation plan as your business develops and changes it will end up becoming a drain on your bottom line due to the sheer volume of salespeople and the increased administrative effort needed to handle them. Your compensation plan needs to grow and evolve with your company in order for your business to stay competitive. An automated platform should include architecture that allows you to scale your compensation plan to meet your current demands and expand your sales force as needed, without adding more administrative resources. FLEXIBILITY By the same token, your company may end up changing in some other way that requires you to change your overall business objectives; whether subtly or drastically. A good automated system will allow you to make changes to your current plan quickly and simply to make it fit with your new objectives. Those changes will be automatically reflected across the entire platform, and applied immediately to all employees, without requiring a major overhaul of the system s programming. INTERGRATION As a company that deals in sales it s likely that you already have some sort of Customer Relationship Management software platform, such as Salesforce, implemented in your company. As such, you may be thinking, great, does this new automation service mean our employees will need to balance two separate software platforms for all of their sales? Not at all. Your sales incentive compensation management software can integrate seamlessly into your CRM software; allowing you to run both from the same place. After all, they do use a lot of the same information. Now they can both be integrated instead of having to switch back and forth. REDUCTION OF ERRORS This integration with CRM can in turn help you to reduce human error in your compensation plan, and make sure that everyone gets the incentives they earned. Rather than having each salesperson enter the figures from every sale manually into a spreadsheet, you can simply import all the necessary figures from Salesforce into your incentive compensation platform. When you do this, the program has a record of all the sales made by your company, which it can then automatically categorize by salesperson, in order to get a quick and accurate figure of what their compensation should be for this month or quarter. E-DOCUMENT HANDLING Even with all of your data united under one easy-to-use platform, there s still a tremendous amount of documentation involved in sales incentive compensation. Each sale has at least one document attached to it, along with a plethora of other important papers. It s important to have these documents on hand and be able to access them when needed, in order to confirm a particular salesperson s compensation, resolve disputes, correct errors, and more. Sure, you could fill the basement of your office complex with file cabinets and spend hours searching for the right document when needed. You could store them on CDs or flash drives and have almost as difficult a time sorting through them as you would with physical papers. Or, you could use an incentive compensation software package that includes document handling. It puts all your important documents in one place, stored in the cloud, and allows you to sort them by salesperson. That way you have all the documents associated with a particular employee at your fingertips when you need them. ANALYTICS So you ve got your sales incentive compensation plan in place, and thanks to your automated software it s become a well-oiled machine. But what effect is the plan having on your company? Are you overpaying your workers? Under-paying? When Xactly evaluated existing sales comp data, we found as many as 160 commissions on one deal. This is excessive, and if the company is still calculating with Excel, it s unlikely they know the true compensation cost. An automated software program can help you implement your incentive plan, and make sure the right people are getting paid on each deal. But it can t ensure that it actually works, can it? Not exactly; but it can help you find out. An analytics application lets you view all of your sales and compensation data at a glance to see what s working, what s not, and what needs to be changed. It helps you to keep your plan up to date and enables you to do what s best for your employees and for your company. INCREASED MOTIVATION The entire point of sales incentive compensation is to motivate your salespeople to work harder and do more. But when filling out and submitting your reports is a hassle fraught with errors and problems it can end up being more of a worry than a motivator. If your salespeople are never even sure when their compensation checks are going to come in, it weakens the association in their minds between the work and the reward. However, thanks to the benefits listed above, an automated sales incentive compensation platform eliminates the hassle and allows you to pay out incentives like clockwork without error or worry. This will help put things into perspective for your salespeople, and allow them to see the benefits of their labors, inspiring them to work harder and sell more. Xactly evaluated existing sales comp data we found as 160 many as 160 commissions on one deal. This is excessive. COMMISSIONS 9 SALES INCENTIVE COMPENSATION 101 FOR EMERGING COMPANIES AUTOMATED SALES INCENTIVE COMPENSATION 10

7 CONCLUSION Sales incentive compensation is an essential part of any company that relies on selling products or services. Your salespeople are key contributors to the future growth of your company; the happier they are, the better they ll sell, and the more your company will be able to prosper. A manual incentive compensation plan often ends up doing more harm than good. It s a detriment to morale and it can make your company lose revenue due to human errors and excessive management times. If you implement a high quality, cloud based, automated sales incentive compensation platform at your company, you can turn things around. It will not only save you time and resources, it will also improve your sales, your profits, and your operations. The right incentives will help your company meet its overall goals and align employees with these objectives. WANT TO KNOW MORE? Additional Resources on the Xactly website: GUIDES: guides/ WEBINARS: webinars/ BLOG: lnkd.in/xactly Xactly XactlyCorp For More Information Visit or call GO.XACTLY ( ) to learn how Xactly lets you pay sales commissions on time and error free, motivating your sales team to do more. Xactly Corporation, 225 W Santa Clara St, Suite 1200, San Jose, CA Xactly Corporation. All rights reserved. Xactly, Xactly Analytics, Xactly Connect, Xactly Data Management, Xactly Incent, Xactly Incentive Estimator, Xactly Incent Express, Xactly Modeling, Xactly Document Management, Xactly Territories, and Incent right. Sell more. are trademarks or registered trademarks of Xactly Corporation. All other trademarks are the property of their respective owners.

SALES INCENTIVE COMPENSATION 101: FOR EMERGING COMPANIES

SALES INCENTIVE COMPENSATION 101: FOR EMERGING COMPANIES SALES INCENTIVE COMPENSATION 101: FOR EMERGING COMPANIES Incentive compensation can be a very effective motivational tool for any business. With a system of bonuses based on performance in place, you can

More information

Introduction. 1. Risk of Non-Compliance

Introduction. 1. Risk of Non-Compliance Introduction There are few things more critical to a company s top and bottom line results than sales compensation. After all, sales are the lifeblood of any business and sales compensation is the primary

More information

YOUR COMPLETE CRM HANDBOOK EVERYTHING YOU NEED TO KNOW TO GET STARTED WITH CRM

YOUR COMPLETE CRM HANDBOOK EVERYTHING YOU NEED TO KNOW TO GET STARTED WITH CRM YOUR COMPLETE CRM HANDBOOK EVERYTHING YOU NEED TO KNOW TO GET STARTED WITH CRM Introduction WHAT IS CRM? CRM is much more than a buzzy acronym that s been tossed around the business and sales world for

More information

Your Complete CRM Handbook

Your Complete CRM Handbook Your Complete CRM Handbook Introduction Introduction Chapter 1: Signs You REALLY Need a CRM Chapter 2: How CRM Improves Productivity Chapter 3: How to Craft a CRM Strategy Chapter 4: Maximizing Your CRM

More information

Sales Compensation Automation

Sales Compensation Automation Sales Compensation Automation Eliminate Spreadsheets; Increase Revenue and Profits www.makanasolutions.com Sales Compensation Automation 2 Executive Summary Sales compensation is a powerful, strategic

More information

Optymyze Sales Performance Software

Optymyze Sales Performance Software Optymyze Sales Performance Software Optymyze provides a complete set of sales performance management applications that are designed to help enterprises improve the alignment, efficiency, productivity,

More information

Top 10 Ways. Operational Software Can Boost a Contractor s Bottom Line

Top 10 Ways. Operational Software Can Boost a Contractor s Bottom Line Top 10 Ways Operational Software Can Boost a Contractor s Bottom Line Top 10 Ways Operational Software Can Boost a Contractor s Bottom Line Switching to a new operational software solution is a big step

More information

OF A SOFTWARE COMPANY CFO. costly problems CFOs can t stop thinking about...and how they get back to business.

OF A SOFTWARE COMPANY CFO. costly problems CFOs can t stop thinking about...and how they get back to business. OF A SOFTWARE COMPANY CFO 7 Seven costly problems CFOs can t stop thinking about...and how they get back to business. INTACCT 1 INDEX 1. Gaining control over deferred revenue and revenue recognition. 2.

More information

TOP 10. Features Small and Medium Businesses

TOP 10. Features Small and Medium Businesses Introduction Once thought of as only relevant for enterprises, CRM technology is increasingly being used by small and medium businesses across industries. Even the smallest organizations recognize the

More information

FIVE WAYS TO MAKE YOUR SALES COMPENSATION PLANS PAY OFF BIG. Everything you need to know to create more powerful sales incentive plans

FIVE WAYS TO MAKE YOUR SALES COMPENSATION PLANS PAY OFF BIG. Everything you need to know to create more powerful sales incentive plans FIVE WAYS TO MAKE YOUR SALES COMPENSATION PLANS PAY OFF BIG Everything you need to know to create more powerful sales incentive plans Executive Summary A bad sales commission plan will cost you more than

More information

Hospitality Cloud+Plus. How Technology Can Benefit Your Hotel LIMOTTA IT. LIMOTTAIT.com/hospitality 888 884 6278

Hospitality Cloud+Plus. How Technology Can Benefit Your Hotel LIMOTTA IT. LIMOTTAIT.com/hospitality 888 884 6278 Hospitality Cloud+Plus How Technology Can Benefit Your Hotel LIMOTTA IT LIMOTTAIT.com/hospitality 888 884 6278 Content + + About Us PCI Compliance + Virtualization + + + Unified Technology Single Sign

More information

Incentive compensation management

Incentive compensation management Steve Darcy, Incentive Compensation Management 6 June 2013 Incentive compensation management Automate incentive processes to align strategy, reduce errors and improve compliance Four key questions answered

More information

Customer Relationship Management - a strategic approach

Customer Relationship Management - a strategic approach Sage CRM Solutions Customer Relationship Management - a strategic approach Managing interactions with prospects and customers effectively and profitably is a fundamental part of business. Success depends

More information

HOW A CRM SOLUTION HELPS SMALL BUSINESSES

HOW A CRM SOLUTION HELPS SMALL BUSINESSES Book 3 of 4 HOW A CRM SOLUTION HELPS SMALL BUSINESSES PART OF THE CRM SUCCESS SERIES Introduction LEARNING ABOUT CRM Technology has changed the game for small businesses. Where department size was once

More information

7 big breakthroughs in 2014 for sales

7 big breakthroughs in 2014 for sales 7 big breakthroughs in 2014 for sales Get to the future, faster. Your sales team will thank you. To grow revenue, you need more than a simple Customer Relationship Management (CRM) application. That s

More information

HOW A CRM SOLUTION CAN HELP YOUR BUSINESS Zyprr E-Book Series. www.zyprr.com 1

HOW A CRM SOLUTION CAN HELP YOUR BUSINESS Zyprr E-Book Series. www.zyprr.com 1 HOW A CRM SOLUTION CAN HELP YOUR BUSINESS Zyprr E-Book Series www.zyprr.com 1 Contents 1. Introduction: 1. What is CRM 2. Adoption: How to Succeed 1. Executive Buy-in 2. Establish Measurable Goals 3. Understanding

More information

YOUR PATH TO GROWTH. Best Practice Channel Sales Compensation

YOUR PATH TO GROWTH. Best Practice Channel Sales Compensation YOUR PATH TO GROWTH Best Practice Channel Sales Compensation OUR PRESENTERS TODAY Erik Charles Sr. Product Marketing Manager Xactly Corporation Daniel Hawtof VP, Product Management Channelinsight Adam

More information

7.5 Staffing Secrets To Increase Profitability When Placing Temporary Employees. www.bwsi.com

7.5 Staffing Secrets To Increase Profitability When Placing Temporary Employees. www.bwsi.com 7.5 Staffing Secrets To Increase Profitability When Placing Temporary Employees www.bwsi.com 7.5 Staffing Secrets To Increase Profitability When Placing Temporary Employees Every staffing agency is in

More information

Dive Deeper into Your Sales Metrics: 4 Ways to Discover Hidden Sales Treasure. Rich Berkman Qvidian

Dive Deeper into Your Sales Metrics: 4 Ways to Discover Hidden Sales Treasure. Rich Berkman Qvidian Dive Deeper into Your Sales Metrics: 4 Ways to Discover Hidden Sales Treasure 2 What you can t see may be killing your sales. It s time to uncover what your current measurements won t show you. If you

More information

Driving Sales Growth Using Sales Performance Metrics

Driving Sales Growth Using Sales Performance Metrics White Paper Driving Sales Growth Using Sales Performance Metrics The Hidden Treasure of Sales Performance Software Overview Achieving Breakthrough Sales Performance Achieving greater sales performance

More information

START, EXECUTE & GROW

START, EXECUTE & GROW How To START, EXECUTE & GROW a Successful VoIP Call Center Brought to you by: LEARN HOW Share this Guide 1 No matter what size your business is, it can benefit from implementing a well-rounded call center.

More information

Sage CRM Focused Sales Management

Sage CRM Focused Sales Management Sage CRM Focused Sales Management Equipping your sales team with the complete customer information and the necessary tools to enable them to do their job effectively is very important. Sage CRM empowers

More information

9 Principles of Killer Dashboards SELL. SERVICE. MARKET. SUCCEED.

9 Principles of Killer Dashboards SELL. SERVICE. MARKET. SUCCEED. 9 Principles of Killer Dashboards SELL. SERVICE. MARKET. SUCCEED. The information provided in this e-book is strictly for the convenience of our customers and is for general informational purposes only.

More information

HOW INCENTIVE COMPENSATION REWARDS EACH EMPLOYEE IN YOUR COMPANY

HOW INCENTIVE COMPENSATION REWARDS EACH EMPLOYEE IN YOUR COMPANY HOW INCENTIVE COMPENSATION REWARDS EACH EMPLOYEE IN YOUR COMPANY CONTENTS 1. A Good Compensation Plan Shows Finance the Money (And How To Make More Of It) 2. Sales Managers Can Orchestrate the Sweetest

More information

Leverage your Sales Commission System

Leverage your Sales Commission System Leverage your Sales Commission System How your sales commission data can drive increased sales performance and corporate profitability As an executive, you know one of the best performance management tools

More information

How Do I Find. the Right CRM. for My Business? a guide by

How Do I Find. the Right CRM. for My Business? a guide by How Do I Find the Right CRM for My Business? a guide by Why Tracking Your Business in Spreadsheets and email Won t Work Most small businesses initially track customers using email and Microsoft Excel.

More information

Make your CRM work harder so you don t have to

Make your CRM work harder so you don t have to September 2012 White paper Make your CRM work harder so you don t have to 1 With your CRM working harder to deliver a unified, current view of your clients and prospects, you can concentrate on retaining

More information

Talent DNA that drives your business

Talent DNA that drives your business Talent DNA that drives your business Align your talent DNA and business strategy to achieve real success Accelerate your business with a strategic HCM solution that turns your human capital investment

More information

DEFINE YOUR SALES PROCESS

DEFINE YOUR SALES PROCESS DEFINE YOUR SALES PROCESS TO GROW YOUR BUSINESS Internet Marketing 101: How Small Businesses Can Compete with the Big Guys DEFINE YOUR SALES PROCESS TO GROW YOUR BUSINESS A strong and effective sales team

More information

BLAST OFF. What does the future hold for contact centers, business operations, and the customer experience? TO THE FUTURE OF CUSTOMER ENGAGEMENT

BLAST OFF. What does the future hold for contact centers, business operations, and the customer experience? TO THE FUTURE OF CUSTOMER ENGAGEMENT BLAST OFF What does the future hold for contact centers, business operations, and the customer experience? TO THE FUTURE OF CUSTOMER ENGAGEMENT 1 MORE THAN A FASTER ROCKET. We re on the precipice of a

More information

MCQ s Unit-II: Organizing the Sales Force

MCQ s Unit-II: Organizing the Sales Force MCQ s Unit-II: Organizing the Sales Force 1. involves identifying activities management feels the salespeople should perform to produce the desired results. a. SWOT analysis b. Environmental audit c. Training

More information

The High Performer Sales

The High Performer Sales The High Performer Sales ManagerS AND THEIR Seven Characteristics accela.com.au 1 The High Performer Sales ManagerS AND THEIR Seven Characteristics What characteristics have high performing sales managers

More information

Varicent View. Conversations on Incentive Compensation: The Changing Role of Finance in Pay for Performance

Varicent View. Conversations on Incentive Compensation: The Changing Role of Finance in Pay for Performance Varicent View Conversations on Incentive Compensation: The Changing Role of Finance in Pay for Performance The Changing Role of Finance in Pay for Performance Functions As companies reevaluate their compensation

More information

YOUR COMPLETE CRM HANDBOOK

YOUR COMPLETE CRM HANDBOOK HIGHER EDUCATION: YOUR COMPLETE CRM HANDBOOK EVERYTHING YOU NEED TO KNOW TO GET STARTED WITH CRM Introduction WHAT IS CRM? CRM is much more than a buzzy acronym that s been tossed around the business and

More information

HOW A MOBILE CRM MAKES YOU MORE SUCCESSFUL

HOW A MOBILE CRM MAKES YOU MORE SUCCESSFUL Book 2 of 4 HOW A MOBILE CRM MAKES YOU MORE SUCCESSFUL PART OF THE CRM SUCCESS SERIES Introduction THE MODERN CRM Customer relationship management (CRM) solutions have been used by companies to sell, service,

More information

HOW A CRM HELPS YOUR BUSINESS GROW

HOW A CRM HELPS YOUR BUSINESS GROW Book 1 of 4 HOW A CRM HELPS YOUR BUSINESS GROW PART OF THE CRM SUCCESS SERIES Introduction BEYOND THE HANDSHAKE You ve likely heard the saying, Business begins with a handshake It sounds so simple. But

More information

Lead to Money: Aligning Finance with Sales and Marketing Processes

Lead to Money: Aligning Finance with Sales and Marketing Processes #LeadToMoney Sales Management Association Webcast Lead to Money: Aligning Finance with Sales and Marketing Processes 13 February 2014 Presented by Copyright 2014 The Sales Management Association. About

More information

Focused sales management

Focused sales management Focused sales management Make the most of every sales opportunity Sage CRM directs your sales efforts toward the most profitable, most winnable deals and helps you make the most of cross-selling and upselling

More information

1Targeting 2. 4Analysis. Introducing Marketing Automation. Best Practices for Financial Services and Insurance Organizations.

1Targeting 2. 4Analysis. Introducing Marketing Automation. Best Practices for Financial Services and Insurance Organizations. Introducing Marketing Automation Best Practices for Financial Services and Insurance Organizations 5 Marketing Technology 1Targeting 2 Engagement 4Analysis 3 Conversion 1 Marketing Automation = Marketing

More information

Top 5 Mistakes Made with Inventory Management for Online Stores

Top 5 Mistakes Made with Inventory Management for Online Stores Top 5 Mistakes Made with Inventory Management for Online Stores For any product you sell, you have an inventory. And whether that inventory fills dozens of warehouses across the country, or is simply stacked

More information

Time is Money: Justifying the Switch to Automated Time Collection

Time is Money: Justifying the Switch to Automated Time Collection Time is Money: Justifying the Switch to Automated Time Collection Can I Justify Switching to Automated Time Collection? Every employee in your organization is affected by how time and attendance data is

More information

FIVE REASONS TO ADD COMMUNICATIONS TO YOUR CRM TODAY

FIVE REASONS TO ADD COMMUNICATIONS TO YOUR CRM TODAY FIVE REASONS TO ADD COMMUNICATIONS TO YOUR CRM TODAY How can you get more out of your CRM system? That's the inevitable question that arises at the end of a successful deployment of a customer relationship

More information

CRM SOFTWARE EVALUATION TEMPLATE

CRM SOFTWARE EVALUATION TEMPLATE 10X more productive series CRM SOFTWARE EVALUATION TEMPLATE Find your CRM match with this easy-to-use template. PRESENTED BY How To Use This Template Investing in the right CRM solution will help increase

More information

CONSULTING RESEARCH TRAINING VOLUME 2 - ISSUE 9. Getting Sales Compensation Right

CONSULTING RESEARCH TRAINING VOLUME 2 - ISSUE 9. Getting Sales Compensation Right CONSULTING RESEARCH TRAINING VOLUME 2 - ISSUE 9 Getting Sales Compensation Right The Miller Heiman Sales Performance Journal, Volume 2, Issue 9 Copyright 2007 by Miller Heiman, Inc. Printed and bounded

More information

AAA Mortgage, based in Alpharetta, Georgia, sought an

AAA Mortgage, based in Alpharetta, Georgia, sought an Microsoft Customer Solution Case study Microsoft CRM Microsoft Business Solutions CRM Helps Slash Costs, Boost Productivity, and Improve Customer Service Microsoft CRM paid for itself in less than a month

More information

UNLOCKING THE MYSTERY OF SALES COMPENSATION. Three keys to sales compensation success

UNLOCKING THE MYSTERY OF SALES COMPENSATION. Three keys to sales compensation success UNLOCKING THE MYSTERY OF SALES COMPENSATION Three keys to sales compensation success The promise of sales compensation technology is to provide efficiency, transparency, and clear reporting to the sales

More information

Web content provided for Blue Square Design see www.blue-square.com.au. Home Page

Web content provided for Blue Square Design see www.blue-square.com.au. Home Page Web content provided for Blue Square Design see www.blue-square.com.au Home Page We help your business make new friends When you harness the skills of a graphic and web design studio, there s a certain

More information

Strategic Employee Onboarding: First Impressions Are Everything

Strategic Employee Onboarding: First Impressions Are Everything ONBOARDING Strategic Employee Onboarding: First Impressions Are Everything Cornerstone OnDemand Whitepaper Series 2007 Cornerstone OnDemand, Inc. All Rights Reserved. Table of Contents Onboarding: More

More information

The Ultimate Guide to Customer Relationship Management

The Ultimate Guide to Customer Relationship Management The Ultimate Guide to Customer Relationship Management Customer Relationship Management Typical consumers in the United States and around the developed world have grown accustomed to a personalized experience

More information

How to Drive Translation Sales

How to Drive Translation Sales How to Drive Translation Sales Improving Sales Performance from the Top Down By Doug Lawrence and Nataly Kelly How to Drive Translation Sales By Doug Lawrence and Nataly Kelly ISBN 978-1-933555-98-0 Copyright

More information

Maximise your productivity Tips and tricks for business owners

Maximise your productivity Tips and tricks for business owners Maximise your productivity Tips and tricks for business owners Maximising productivity is vital for everyone, especially business owners. If you implement just some of the tips in this document you will

More information

Show Me the Money! A Guide to Creating a. Scalable Sales. (http://labs.openviewpartners.com) (http://labs.openviewpartners.

Show Me the Money! A Guide to Creating a. Scalable Sales. (http://labs.openviewpartners.com) (http://labs.openviewpartners. (http://labs.openviewpartners.com) (http://labs.openviewpartners.com/about/) Home (http://labs.openviewpartners.com) HR & People (/category/hr-people/) Show Me the Money! A Guide to Creating a Scalable

More information

Infor CloudSuite HCM. Make more informed decisions. Modernize your HR technology

Infor CloudSuite HCM. Make more informed decisions. Modernize your HR technology HCM Brochure Infor CloudSuite HCM Make more informed decisions Infor CloudSuite HCM is a cloud-based solution for human capital management (HCM) that is more complete than any other. You get the HR and

More information

5 THINGS YOUR CUSTOMER SERVICE APPS MUST DO

5 THINGS YOUR CUSTOMER SERVICE APPS MUST DO 5 THINGS YOUR CUSTOMER SERVICE APPS MUST DO INTRODUCTION 5 THINGS YOUR CUSTOMER SERVICE APPS MUST DO Customer service professionals know better than anyone how fast the world is changing. New channels,

More information

Guide to Killer Lead Management for Account-Based Selling

Guide to Killer Lead Management for Account-Based Selling Guide to Killer Lead Management for Account-Based Selling Guide to Killer Lead Management For Account-Based Selling Everyone Loses When Your Best Opportunities Don t Reach the Right Sales Reps You ve been

More information

QAD Customer Relationship Management Demonstration Guide. May 2015 EE2015 / CRM 6.7

QAD Customer Relationship Management Demonstration Guide. May 2015 EE2015 / CRM 6.7 QAD Customer Relationship Management Demonstration Guide May 2015 EE2015 / CRM 6.7 Overview This demonstration shows how QAD Customer Relationship Management supports the vision of the Effective Enterprise;

More information

25 Questions Top Performing Sales Teams Can Answer - Can You?

25 Questions Top Performing Sales Teams Can Answer - Can You? 25 Questions Top Performing Sales Teams Can Answer - Can You? How high growth businesses use Sales Force Automation to drive success The best performing sales teams can answer the sales management questions

More information

Extending the Value of Salesforce with Quote-to-Cash Apps

Extending the Value of Salesforce with Quote-to-Cash Apps Extending the Value of Salesforce with Quote-to-Cash Apps Given the huge gap between CRM and ERP processes, capturing and transferring details on what products customers bought at what price and for what

More information

MITS Distributor Analytics

MITS Distributor Analytics Product Datasheet For TrulinX Users MITS Distributor Analytics A powerful combination of reporting features MITS Distributor Analytics gives you a competitive edge when it comes to making decisions that

More information

Microsoft Dynamics CRM. Salesforce.com. 8 Reasons Microsoft is the Better Investment. versus

Microsoft Dynamics CRM. Salesforce.com. 8 Reasons Microsoft is the Better Investment. versus versus 8 Reasons Microsoft is the Better Investment 2015 versus : The Choice is Clear When you choose a business management system, the last thing you want is to be surprised once you ve gone through the

More information

9 CRITICAL REASONS TO AUTOMATE PERFORMANCE MANAGEMENT

9 CRITICAL REASONS TO AUTOMATE PERFORMANCE MANAGEMENT 9 CRITICAL REASONS TO AUTOMATE PERFORMANCE MANAGEMENT Introduction As a human resources manager, you understand the importance of having a strong performance management process in place at your company.

More information

ROI of Marketing Automation a comprehensive look at how marketing automation delivers exceptional return on investment for users

ROI of Marketing Automation a comprehensive look at how marketing automation delivers exceptional return on investment for users ROI of Marketing Automation a comprehensive look at how marketing automation delivers exceptional return on investment for users one CHAPTER ONE The FYI on ROI Of the newest breed of marketing tools, marketing

More information

How To Get Started With Customer Success Management

How To Get Started With Customer Success Management A Forrester Consulting Thought Leadership Paper Commissioned By Gainsight April 2014 How To Get Started With Customer Success Management Table Of Contents Four Actionable Steps To Setting Up Your Customer

More information

Executive White Paper

Executive White Paper 2471 Fawn Lake Circle, Naperville, IL 60564 P: 630.904.3742 F: 630.904.1183 Sales Incentive Compensation David J. Fritz President Fritz@GrowthSolutionsInc.com Background White Paper Growth Solutions, LLC,

More information

GUIDE TO PURCHASING A PHONE SYSTEM FOR YOUR CALL CENTER

GUIDE TO PURCHASING A PHONE SYSTEM FOR YOUR CALL CENTER GUIDE TO PURCHASING A PHONE SYSTEM FOR YOUR CALL CENTER A STEP-BY-STEP PRIMER TO HELP YOU SELECT THE RIGHT SOLUTION FOR YOUR SMALL TO MIDSIZE BUSINESS GUIDE TO PURCHASING THE RIGHT PHONE SYSTEM FOR YOUR

More information

Make technology your business advantage

Make technology your business advantage Make technology your business advantage $ Make technology your business advantage Microsoft helps small and midsize businesses (SMBs) make the use of technology a business advantage. Modernizing your systems

More information

Strategies for Improving Schedule Adherence. How to Realize the True Value of Workforce Management

Strategies for Improving Schedule Adherence. How to Realize the True Value of Workforce Management Strategies for Improving Schedule Adherence How to Realize the True Value of Workforce Management Los Angeles, November 2011 Strategies for Improving Schedule Adherence The True Value of Workforce Management

More information

Setting smar ter sales per formance management goals

Setting smar ter sales per formance management goals IBM Software Business Analytics Sales performance management Setting smar ter sales per formance management goals Use dedicated SPM solutions with analytics capabilities to improve sales performance 2

More information

Guide to Integrating Zendesk for Salesforce. January, 2011

Guide to Integrating Zendesk for Salesforce. January, 2011 January, 2011 Table of Contents Introduction... 3 Know Your Customers Well... 4 Benefits to sales and marketing interactions... 4 Benefits to customer support interactions... 4 Best Practices for Integrating

More information

YOUR COMPLETE CRM HANDBOOK EVERYTHING YOU NEED TO GET YOUR NONPROFIT STARTED WITH CRM

YOUR COMPLETE CRM HANDBOOK EVERYTHING YOU NEED TO GET YOUR NONPROFIT STARTED WITH CRM YOUR COMPLETE CRM HANDBOOK EVERYTHING YOU NEED TO GET YOUR NONPROFIT STARTED WITH CRM Introduction WHAT IS CRM? CRM is much more than a buzzy acronym that s been tossed around the business and sales world

More information

Implementing an effective sales compensation plan. Accion Venture Lab

Implementing an effective sales compensation plan. Accion Venture Lab Implementing an effective sales compensation plan Accion Venture Lab Your sales compensation plan is a critical component of effectively growing your business Your sales staff will drive the growth of

More information

5IMPROVE OUTBOUND WAYS TO SALES PERFORMANCE: Best practices to increase your pipeline

5IMPROVE OUTBOUND WAYS TO SALES PERFORMANCE: Best practices to increase your pipeline WAYS TO 5IMPROVE OUTBOUND SALES PERFORMANCE: Best practices to increase your pipeline table of contents Intro: A New Way of Playing the Numbers Game One: Find the decision maker all of them Two: Get ahead

More information

Maximize every dollar you invest in employees.

Maximize every dollar you invest in employees. 1 Overview 2 Maximize every dollar you invest in employees. The right people make all the difference. It s true in small companies, large companies, and everywhere else. A business itself does not generate

More information

CREATE A MARKETING PLAN

CREATE A MARKETING PLAN CREATE A MARKETING PLAN IN 10 EASY STEPS WORKING OUT A PLAN Building a marketing plan is a lot like the first time you go to a gym. There s some apprehension, some indecision, and as a whole you may not

More information

Sage 100 ERP 2014 Connect your business.

Sage 100 ERP 2014 Connect your business. Sage 100 ERP 2014 Connect your business. The foundation for connecting your business to provide a better customer experience, increase revenue, and make better business decisions New web and mobile functionality:

More information

Targeting. 5 Tenets. of Modern Marketing

Targeting. 5 Tenets. of Modern Marketing 5 Tenets of Modern Marketing Targeting The foundation of any effective Modern Marketing effort is to ensure you have a clear and accurate picture of your potential customers. Without the proper strategies

More information

Sales Compensation Automation. Opportunity to Increase Sales and Profits

Sales Compensation Automation. Opportunity to Increase Sales and Profits Sales Compensation Automation Opportunity to Increase Sales and Profits Makana Solutions White Paper November 17, 2008 Table of Contents Executive Summary... 3 Introduction... 4 The Pitfalls of Spreadsheet-based

More information

The business owner s guide for replacing accounting software

The business owner s guide for replacing accounting software The business owner s guide for replacing accounting software Replacing your accounting software is easier and more affordable than you may think. Use this guide to learn about the benefits of a modern

More information

EPoS and Ecommerce Solutions for Independent Retailers

EPoS and Ecommerce Solutions for Independent Retailers EPoS and Ecommerce Solutions for Independent Retailers The future of independent retail is multi-channel. Successful independent retailers will need to have a real time, single view of customers, stock

More information

Building a Lead-to-Cash Solution

Building a Lead-to-Cash Solution Building a Lead-to-Cash Solution With customer experience management in focus, leadto-cash offers an integrated, technology solution that automates all aspects of the sales cycle into a seamless workflow.

More information

The expression better, faster, cheaper THE BUSINESS CASE FOR PROJECT PORTFOLIO MANAGEMENT

The expression better, faster, cheaper THE BUSINESS CASE FOR PROJECT PORTFOLIO MANAGEMENT Cloud Solutions for IT Management WHITE PAPER THE BUSINESS CASE FOR PROJECT PORTFOLIO MANAGEMENT How Progressive IT Organizations Are Using Hosted Solutions To Deliver On Time, On Budget, On Quota and

More information

How To Use Business Intelligence (Bi)

How To Use Business Intelligence (Bi) Business Intelligence: How better analytics can lead your business to higher profits. Introduction The economic downturn is forcing business leaders to rethink strategic plans. To remain competitive, businesses

More information

SAP Solution Overview: SAP Cloud for Sales Sell Smarter and Engage to Win with SAP Cloud for Sales

SAP Solution Overview: SAP Cloud for Sales Sell Smarter and Engage to Win with SAP Cloud for Sales SAP Solution Overview: SAP Cloud for Sales Sell Smarter and Engage to Win with SAP Cloud for Sales SAP Cloud for Sales 1 Selling today is more complex than ever. You need to know your customer s unique

More information

SALES PLANNING SEASON

SALES PLANNING SEASON THE ULTIMATE GUIDE TO SALES PLANNING SEASON TABLE OF CONTENTS 1 4 6 13 16 27 Intro Preparing for a Sales Design Project Concepts in Sales Compensation Plan Design Roles in Today s Sales Teams Considerations

More information

Sales Compensation and Incentives

Sales Compensation and Incentives Sales Compensation and Incentives Question: What are the goals of a compensation plan? Goals of Compensation Motivate AE s to exceed revenue targets Motivate sales of multiple products Drive sales behavior

More information

Infor Human Capital Management Talent DNA that drives your business

Infor Human Capital Management Talent DNA that drives your business Infor Human Capital Management Talent DNA that drives your business 1 Infor Human Capital Management Align your talent DNA and business strategy to achieve real success Accelerate your business with a

More information

Rising Above the Rest: Employee Performance Management Creates Lasting Market Differentiation. A Performix Technologies White Paper

Rising Above the Rest: Employee Performance Management Creates Lasting Market Differentiation. A Performix Technologies White Paper Rising Above the Rest: Employee Performance Management Creates Lasting Market Differentiation A Performix Technologies White Paper Copyright Performix Technologies April/2006 Achieving Service Excellence

More information

Overview of the features that provide the highest return on your investment in Tour de Force

Overview of the features that provide the highest return on your investment in Tour de Force ROI Summary Overview of the features that provide the highest return on your investment in Tour de Force Tour de Force provides many areas of functionality that will help automate your sales organization

More information

See your business in a new way.

See your business in a new way. Operations and Distribution Management Brochure See your business in a new way. Realize the future of your business today. See your business in a new way. Realize the future of your business today. Distribution

More information

The ROI of Incentive Compensation Management Making the Business Case

The ROI of Incentive Compensation Management Making the Business Case Incent Perform Grow The ROI of Incentive Compensation Management Making the Business Case Any organization looking to increase the accuracy, improve the efficiencies, and increase the analytic capabilities

More information

Five Strategies for Increasing the ROI of Marketing Events

Five Strategies for Increasing the ROI of Marketing Events Five Strategies for Increasing the ROI of Marketing Events Introduction Why Hold Marketing Events? Events, especially marketing events, are a critical tool in any marketer s playbook. According to Forrester

More information

The value of sales incentive programs.

The value of sales incentive programs. The value of sales incentive programs. White Paper 2014 Sydney Brisbane Melbourne Perth New York Auckland London Birmingham Hong Kong A full service event management agency for the corporate market. Sales

More information

Increase Outside Sales Productivity using Mobile Technologies

Increase Outside Sales Productivity using Mobile Technologies White Paper Sponsored by Epicor Software Increase Outside Sales Productivity using Mobile Technologies For most lumber and building materials (LBM) dealers and distributors, their outside sales people

More information

The key to success: Enterprise social collaboration fuels innovative sales & operations planning

The key to success: Enterprise social collaboration fuels innovative sales & operations planning Manufacturing The key to success: Enterprise social collaboration fuels innovative sales & operations planning As the sales and operations planning leader, you have a few principal responsibilities: setting

More information

to Maximize Return on Investment with Marketing Automation

to Maximize Return on Investment with Marketing Automation 4 Ways to Maximize Return on Investment with Marketing Automation 4 Ways to Maximize Return on Investment with Marketing Automation The Challenge: Maximising the time and money you invest in the online

More information

How To Fix A Broken Performance Management Program How Leading Organizations are transforming Performance Management to maximize Business Value

How To Fix A Broken Performance Management Program How Leading Organizations are transforming Performance Management to maximize Business Value Orange County Convention Center Orlando, Florida June 3-5, 2014 How To Fix A Broken Performance Management Program How Leading Organizations are transforming Performance Management to maximize Business

More information

Whitepaper. Cut to the Cash: How to Shorten Your Sales Cycle

Whitepaper. Cut to the Cash: How to Shorten Your Sales Cycle Whitepaper Cut to the Cash: How to Shorten Your Sales Cycle Think about it the more obstacles that stand in your sales reps way, the less time they have to close new deals. Think about it the more obstacles

More information

Connecting Systems, People and Processes with Workflow. Three Steps to Automated Success

Connecting Systems, People and Processes with Workflow. Three Steps to Automated Success Connecting Systems, People and Processes with Workflow Three Steps to Automated Success 01 02 03 Three Steps to Automated Success Connecting Systems, People and Processes with Workflow Excess demand is

More information