On Sales performance management System Author: Vu Xuan Thuc [email protected]Company: Vietsoftware International – Mobile Enterprise division Hanoi – Feb 2015 What is Sales Performance Management system? Sales Performance Management System (SPM) is a system that helps organization drive sale from strategy through to execution while improving efficiency, accuracy and timeliness in administrative processes angle. Regular features in Sales Performance Management - Sale work flow process management (include sale metrics) - Quotas and objective management - Sale data management - Territory and channel management - Incentive compensation (to promote or encourage specific actions, employees) - Sale reporting and analytics Pay for Performance With Incentive Compensation Management solutions from IBM, organizations can: - Reduce errors in over-payments of their pay-for-performance and compensation programs - Plan, model and easily implement changes to pay-for-performance programs - Provide increased visibility into pay-for-performance with reports and dashboards/KPIs - Improve process efficiencies in administrating pay-for-performance programs - Help ensure retention and coaching of top and bottom performers - Foster motivation and an overall selling culture by driving sales behaviors - Enhance adoption and trust with the participants of pay-for-performance programs Sales Operations Sales performance management software from IBM helps organizations: - Align sales strategy with corporate objectives - View sales effectiveness reports and dashboards/KPIs
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- Manage sales overlays and crediting splits to multiple sales roles/people
- Define and manage crediting eligibility, overrides and assignment rules
- View territory and crediting reports (i.e. Territory Coverage Gaps, …, etc.), dashboards and key
performance indicators/KPIs
- Realign sales territories and easily adopt to market opportunities and changes
Incentive Compensation Sales compensation management software from IBM helps organizations:
- Automate sales commission calculations to save administrative time
- Streamline territory management and quota setting
- Automate, track, and control payment disputes with configurable workflows
- Provide scalability for sales organizations with high transaction volumes
- Perform commission forecasting and calculate performance rankings
- Manage sales compensation compliance requirements in highly regulated industries
Smart features in Sales Performance Management - How sales are trending in different regions and why
- How incentives are affecting your ability to meet revenue targets
- Which customers are highest value
Next generation features in Sales Performance Management - Sales force automation with features like social collaboration, content sharing
- Social performance management
This sale activities must tied to an appropriate work practice and processes, and sale manager can give
feedback on specific activities.
Other requirements
On technology - Transition to the cloud
- Integrate with other applications: HR, CRM,ERP
On performance, efficiency - Get the checks out on time
- Make sure they’re accurate
- Others:
1. Be flexible and nimble (quick, light, agile) for changing priorities
2. Manage complex territories
3. Set accurate quotas
4. Generate enthusiasm
5. Deliver timely and insightful reports
6. Resolve questions and disputes (debate, argue)
7. Do it with lower headcount
8. Analyze impact of new plans
9. Plan for reorganizations
Sales performance evaluation criteria (Measurement) When consider the criteria for sale performance evaluation, the results will help to make key policy for
organization and define operations in Sales Performance Management system.
AUM: Assets under management
Sales performance management approach - Process driven
- People driven
- Incentives driven
Process-driven performance measurement
People-driven performance measurement
Incentives-driven performance measurement
Return Of Investment (ROI) when deploy Sales Performance
Management
Benefits of SPM - Increase Sales Performance
- Lower Administrative Costs
- Improve Compliance (??? optional)
SPM system cost Cost for implement and administer and SPM system:
- Up-front costs (software cost – from solution vendor)
- Software licenses (for platform environment)
- Ongoing Support and Administration
- Integration costs
Quantifying Return on Investment - Operational Efficiency