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Problems With Sales Incentive Compensation Errors

With outdated methods of calculating sales incentives like commissions and bonuses, errors can happen frequently and sales representative don’t get the incentive payments they worked hard to earn. Many companies still use spreadsheets and various software products to track sales and incentive compensation payments. When there are many different business process software products that aren’t integrated with each other, errors in incentive compensation can cause serious problems in the sales department, human resources and administrative support. When sales representative have errors in sales commission and bonus payments, they start to lose faith in their organization. If their payments are late or simply wrong, it looks like the company is less interested in their success. This can lead to decreased motivation to sell. Sales professionals need to be able to rely on accurate and timely incentive compensation to stay motivated and keep growing business. Outdated methods of incentive compensation calculation can also create more work for administrative staff, which in turn impacts a company’s bottom line. When administrative professionals have to spend hours calculating and checking sales incentive payments, the company pays more in man hours. Human error can also lead to errors in commission calculation. Sales incentive payment errors can also lead to disputes between sales representatives and the payroll department, which in turn causes headaches for administrative staff and human resources staff. An automated incentive compensation management system can eliminate errors, payroll disputes over errors and administrative costs. With a software solution like Glocent, sales incentive compensation calculations are run by computer and connected to actual sales data so that all payments and reports are error free.  

Transparency at the speed you do business!