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How CRM and ICM Intersect

Customer Relationship Management (CRM) is a business system that aligns corporate objectives with sales by improving relationships between the company and their sales prospects and customers. Many CRM strategies use the latest technology to streamline business processes and strengthen the connection between the company’s target market and sales and marketing by integrating all processes into one seamless whole. The sales team is an integral part of any CRM strategy because they are often the point of contact for customers and potential customers, and sales activities drive many other business prospects. Powerful integrated DRM strategies inspire sales teams to connect with customers in new and more effective ways. As part of an overall customer relationship management strategy, companies should also improve sales team management because the sales team is so integral to customer relationships. An efficient and motivated sales team can interact with customers in a more dynamic way, improving sales and customer relationships at the same time. Many sales team management strategies involve inspiring the sales team to go after more sales through mentorships and streamlined sales incentive programs. This is where Incentive Compensation Management (ICM) comes in. When sales representatives are confident that they will be adequately rewarded for increased performance, they are more motivated to increase sales. Having a system that automatically calculates sales incentive compensation like commissions and bonuses as well as offering real-time records of sales incentives can show sales teams that the company cares about their work. An automated ICM system can be an integral part of implementing incentive compensation management and therefore customer relationship management strategies. Glocent provides this type of integrated ICM system to get sales teams aligned with corporate customer relationship management strategies and improve sales.  

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