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Managing Bonuses with ICM Software

Sales bonuses can be a difficult sales performance management task if a company doesn't have quality software to help with calculating incentive compensation like bonuses and commissions. Errors in calculations can lead to overpayments and payment disputes, costing the company money, time and stress. With an automated incentive management compensation software solution that's powerful enough to also tackle complicated incentive calculations like bonus and quota structures, businesses can focus on improving sales instead of calculating incentives. With older methods of incentive compensation management like spreadsheets and clunky software, managing bonus schedules was a task that took up massive amounts of time for sales management and administrative staff. Sales executives had to spend time developing new bonus structures based on their own calculations and sales performance management strategies. Then these changes had to be implemented slowly, taking time to make sure that everyone from the sales team to payroll was on board with the new schedule. Then, even with a new schedule, errors in sales reporting, commission and bonus calculations and sales quota management could lead to overpayment or underpayments to sales representatives. Incentive compensation software like Glocent automatically calculates sales bonuses based on the schedules that authorized users input. Sales managers are able to view, modify and update schedules from any computer with a secure Internet connection so that everyone from sales executives to representatives can instantly see changes. Sales bonus payments are also based on actual sales data that's 100% accurate, and representatives can see real-time reports of their sales activity and better work towards their goals. With Glocent, calculating sales incentives like bonuses is easy, improving both sales performance management and administrative efficiency.

Transparency at the speed you do business!