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How Sales Performance Management Strategies Break Down

Most sales performance management (SPM) software solutions are aimed at providing critical sales data to executives so that they can craft effective corporate strategies, but these systems can often neglect incentive compensation management (ICM) solutions like commission calculations. Many SPM systems focus on gathering data from a wide variety of business processes to give executives a clear view of the sales process so that they can improve it. While this is an admirable thing, incentive compensation solutions can use this data to calculate accurate incentive payments like commissions and bonuses in a more efficient way. Some of the types of data that a sales performance management software solution might gather include the model or type of product sold, some customer information, the region the product was sold in, and who sold the product. This gives the sales executives insights into which products, regions and sales teams are more effective. They can then analyze this data to come up with some reasons why certain regions or teams have increased sales and begin to find ways to improve under-performing regions or sales teams. However, if the SPM solution does not also offer options for calculating and paying sales incentives, all of this data can be useless when it comes time to implement a new company-wide sales strategy. Here's how this breaks down. When a company uses a SPM system that relies on sales representatives to report their own sales, the data that the software gathers may not be accurate. Therefore, because executives are working with outdated or inaccurate data, they can create and implement ineffective strategies. The strategies themselves might even be effective, but they can be difficult to implement or the effect could be nullified if the incentive management system in place isn't efficient. With a dedicated incentive management solution like Glocent, companies can implement their new strategy at a click of a button, and sales teams can be confident that their incentives will be accurate.

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