Sales Performance (ICM)
Design and implementation of complex compensation scenarios, integration with CRM / Billing systems, automation configuration, workflows, schedulers and reports.
Understanding the importance of Sales Performance Management
Sales rewards are a huge part of the annual operating costs for most large businesses. Unfortunately, calculating sales and sales motivation remains largely a manual task that requires a lot of time, complex procedures with a numerous errors and delays in sales activity. The result is often that sales personnel do not trust their compensation process and spend a lot of time checking and discussing their differences with their sales manager or the company's financial department - time that should be spent on work for potential or existing customers to increase revenue. This inefficiency creates lost sales opportunities that are estimated to be equivalent to 5 to 10 percent of total sales.
Varicent Incentive Compensation Management
Varicent’s Sales Management solution helps to improve compensation management, increasing the accuracy of sales performance and reducing costs. The elimination of slow, expensive and manual procedures helps to minimize errors in calculations that lead to overpayments and disputes over payments. Supply costs are significantly reduced by automation. Sales personnel have extensive references to their commissions, which can reduce the time and effort spent solving possible disputes. They also receive built-in analytics that help them understand their performance. With Varicent Incentive Compensation Management, analysts can better shape and understand the financial impact of commissions policies before applying it for more accurate cost management and forecasting. Organizations have the opportunity to have greater control over the management and compensation of sales, using the detailed view of the overall compensation plan and the monitoring capabilities offered by the platform.
Customers use Varicent Incentive Compensation Management as an overall solution to increase automation, improve accuracy and manage their commissions.
The Varicent SPM platform is based on four pillars that can be gradually integrated into your processes or all together as a complete solution. These pillars are Incentive Compensation (commissions), Territory Management (areas), Quota Management (targets) and Channel Management (total sales channel handling):
Automate commission calculations and electronic reports with Varicent Incentive Compensation Management (ICM), the leader in Gartner's Magic Quadrant that improves the efficiency and effectiveness of sales teams. View checklists and track key sales performance indicators, create and automate compensation plans easily, and respond to requests from sales personnel who are concerned about receiving their rewards.
Better supply performance management
Define and manage geographic areas and match sales and rules with multiple criteria. Varicent's SPM provides flexible and collaborative workflow processes to manage areas and quotas like the mapping of areas with incentives to motivate sales and use of the system as a single source of data facts for the hierarchies of territories and resources.
Improving the management of geographical areas and sales quotas
As market conditions and business requirements change, Varicent's sales performance management provides the analytical tools that allow you to make better strategic choices. Understand the effect of design changes through scenario modeling, track sales performance with reports and analytics, reveal knowledge hidden in sales plans and processes through data visualization.