Let us suppose that you are a sales head at one of the big companies. You are working closely with your team around the clock to devise new strategies, work on them, and then close deals to boost the profitability of the company.
Let us try to zoom in a little and try to figure out what would act as a motivation for your team members. Would the appreciation be just sufficient for them? Or just an award? The clear answer to this is a big NO!
To get the most out of someone you have to respect the fact that when they are doing their part honestly and crossing some extra milestones every day for your company, you also have to give them something extra than their basic salaries.
Here is where the SPIFFs come into play. But hold on a second, what are spiff is a question still unanswered. So let us try to answer it first. SPIFF is an incentive program in corporations given to the sales departments. The full form of SPIFF is Special Performance Incentive Fund. It is a special incentive program in which each sales employee is judged for his performance based on a few KPIs i.e., Key Performance Indicators.
So, you can clearly see how complex this process can become for a giant company if it relies on manually tackling this data. Also, the chance of blunders is huge in such a case. This is exactly why your company needs commission management software.
What are the key points you should look for in commission management software?
Commission management software is a very necessary tool for any company today, but choosing it is equivalently tough a job. So today we are going to give you a few checkboxes which you cannot skip while choosing a commission management software for your company.
1. It should be easier to handle
The software ought to be simple enough for any colleague (non-specialized individuals) to use without having broad instructional courses or specialized help calls while utilizing it, (for example, being required to physically enter information into different fields).
It additionally needs great documentation, however, it shouldn’t need extended instructional exercises before anybody can start entering information into it — keep things straightforward so everybody knows what they have assumed and manage without calling for tedious directions about how everything functions!
2. It should efficiently handle claw backs
The software ought to be simple enough for any colleague (non-specialized individuals) to use without having broad instructional courses or specialized help calls while utilizing it, (for example, being required to physically enter information into different fields).
It additionally needs great documentation, however, it shouldn’t need extended instructional exercises before anybody can start entering information into it — keep things straightforward so everybody knows what they have assumed and manage without calling for tedious directions about how everything functions!
3. Should be able to tackle all kinds of Sales Channel
You should be choosing sales commission software like ElevateHQ which can handle all kinds of sales channels alone. This is necessary because the commission can differ for people at first line channels, inside salespeople, and outside salespeople.
With ElevateHQ, you can migrate to an automated and super-efficient sales commission engine within 2 weeks. It can also integrate with your pre-existing CRM or pick data from your spreadsheets that you were using yet.
ElevateHQ can prove to be astonishing for you and your company especially when your focus is on scalability. It can help you save your manpower by automating all these repetitive tasks related to sales commission management.