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Comparing Transparency: Spreadsheets vs. Incentive Compensation Software
6 September 2023
Commission ICM/SPM sales
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In this article, we delve into the world of incentive compensation, comparing the transparency of two common solutions: spreadsheets and incentive compensation software.
Spreadsheets vs ICM Solutions Comparison:
When comparing ICM solutions and spreadsheets in terms of transparency of data, numbers, and final payouts, there are some key considerations.
What’s tricky in the Med Tech industry’s commission calculation?
The medical technology industry is a highly diverse and innovative sector that plays a critical role in the healthcare field. It encompasses a wide range of products and services dedicated to the prevention, diagnosis, and treatment of various diseases and injuries. The advancements and innovations in medical technology have a profound impact on patients, care teams, and health systems worldwide. Check the three most important factors that complicate selling with affordable commissions in this industry and how to deal with them.
Seven important things to consider when choosing a provider of an ICM/SPM tool
There are dozens of advantages when it comes to incentive compensation solutions but do you really need them all? Stop for a moment and check what our CRO, Tomasz Jośko advises you to focus on.
Spreadsheets vs ICM Solutions
On the one hand, spreadsheets are free, compared to advanced ICM tools which can cost a lot. On the other hand, they are error-prone, contrasted to more advanced solutions for commission calculations.
Implementation of Xactly Incent – iManage case study
Check how Xactly Corp together with SANDS Partners changed the way of growing at iManage sales team.
Symptoms of professional burnout at sales team and steps to recovery
We still discuss the topic of motivating employees and avoiding professional burnout in the sales team. Have you heard about a Great Resignation trend?
The best motivators for sales team staff (and for other teams too).
Motivation at work is crucial for the sales team and to the performance of the entire company. Find out what motivates employees to succeed in their role on a daily basis.
The real cost of commission errors
For sales people, the vast majority of profits are generated by sales commissions. Therefore, a miscalculated commission can be disastrous for the employee, the team, and the entire company. Once settled correctly, the commission will drive and encourage sellers to raise their own bar each day. As long as selling is a commission-based role, the structure and effectiveness of your commission plan will be the biggest motivator for your team to improve your game performance. But what happens if you wrongly settle your commission?
Let’s talk about commission reporting.
Because well done reporting changes the rules of the game.
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