Supports Virtual Products for Incentive Management
In the Web 2.0 business world, both organizational structures and product offerings are adopting virtual attributes. Products, for example are no longer limited to items we can touch or hold, they may include a dynamic bundle of individual items that together comprise a product with interchangeable elements. Other “products” contained in a sales force’s quiver may include, warranties, contract terms, premium services beyond a basic product package, temporary promotional incentives and many other attributes that impact the value of a sale.
Unfortunately, most Sales Performance Management (SPM) and Incentive compensation management (ICM) solutions do not have the capability of supporting the virtual environment commonly found in businesses today. Glocent changes all of this.
With Glocent, products can be defined based on limitless variables that contribute to the value of every sale. Since other products or circumstances with which a product is sold, (e.g. promotional loss-leaders, temporary campaign incentives, geographic locations, premium services, contract length, etc.) directly determine the true margin for each sale, not to account for all sales variables makes it impossible to determine how a sales rep should be compensated for making it. In order to effectively compensate a sales force, the effect each of these sales elements on every sale must be considered and appropriately assessed. Without the ability to include these virtual attributes of any revenue-generating activity, it is not possible to determine the correct incentive for creating it.