Glocent’s target market is comprised of companies large enough to collect and produce significant amounts of data. A very common development found in Glocent’s user base is the eventual decision to establish Glocent as the source of record; or as some have described it, “Their single source of truth.”
Understanding the reasoning behind that decision reveals Glocent’s primary value to any potential user. Have you ever stopped to consider where the data created by your order-processing, billing, CRM, HR systems is ever reconciled? We have found that, in most cases, it never really is—not for incentive purposes anyway.
In one case, one of Glocent’s clients had been trying to use its CRM tool to feed into a sales performance management (SPM) solution to calculate commissions. After learning that another area of the company had been using Glocent to calculate commissions, using several data feeds, it decided to abandon the previous effort and adopt Glocent. To its great disappointment and genuine amazement, Glocent revealed that less than fifty percent of the previous incentive payments had been accurate.
Worse yet, since the CRM application contained information primarily entered by the sales force, the data it provided to the calculation process was far more optimistic than reality justified; so most of the errors favored the sales force. Adding to the challenge, was the fact that the SPM application the client was trying to use only accepted limited, summarized data; so it did not have the capability to validate transactional details.
Beyond becoming a reliable repository for the data imported into and created within Glocent, the genesis for Glocent being considered the single source of truth was the sales profitability intelligence it identified and produced. Ask yourself this question, “Do I understand ALL the reasons behind our commission payment inaccuracies?” It probably isn’t just the formulas being applied to your sales data. It isn’t just human error that leads to it. It is most often incomplete information. Some reasons for this include:
- Poor, or incomplete, data collection
- A weak transaction validation process
- Sales people “gaming” the existing process
- Reliance on summarized data
Until all the information used to determine incentive payments resides in one location, that has ensured that the data is complete and accurate, it is highly unlikely that you will have total confidence in your sales compensation management solution. Glocent provides that to you and backs it with a real guarantee.