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Why Companies Overlook ICM

Incentive Compensation Management, or ICM, is an important business process for sales organizations, but it can sometimes fall by the wayside when companies focus on other systems for improving sales. Many management tools like business process software claim to help sales executives and managers run their sales teams more efficiently, but they can often neglect to incorporate automated incentive compensation systems. This means that, while the actual sales process might become more efficient, sales teams still have to deal with outdated ICM processes and worry about their commissions. Customer Relationship Management, or CRM, is a new buzzword in the business world, and many companies think that a CRM IT solution will automate their sales system and improve efficiency. What they don't realize is that many CRM solutions neglect ICM, focusing instead on the front-end sales process instead of back-end processes like sales incentives and commissions. With these types of systems, sales representatives may have software solutions for tracking prospects, processes and completed sales, but they still have to rely on spreadsheets for reporting and wait weeks for sales commission payments. Many business owners would also think that a Sales Performance Management, or SPM, software solution would fix this problem by automating the entire management process for the sales team, but many SPM software solutions don't include an accurate and efficient incentive compensation management solution. With SPM software, sales managers can set up new quota or bonus systems, but they then have to implement these systems using outdated software like spreadsheets. What companies need is a dedicated automated ICM solution that will calculate all sales incentives automatically using sales data. Glocent can integrate with other business software solutions like SAP software and fill in the gap, providing companies with an efficient way to pay their sales teams for their hard work and dedication.

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