Top 3 Features of a Good Sales Compensation Software
I was looking through the World Wide Web when I happened to click on one of the bookmarks on my browser. It inadvertently led me to a website that had a list of math problems that you can solve. The math problems weren’t the likes of simple addition or multiplication problems though.
The list of math problems were example situations that you had to solve to get the amount of sales commission that your sales rep would get. Continue reading
FREE Sales Commission Calculator Just for You!
Too busy, too frazzled, or too preoccupied – We’ve all been there at some point in our lives.
With the holidays fast approaching, sales reps and sales managers alike are usually running here and there trying to get a lot of things done all at the same time. Everyone’s buying gifts for everyone. The people in sales are usually at their busiest before, during, and even immediately after the holidays. Continue reading
Sales Commission Wish List:
A Sales Rep’s Holiday Wishes for Sales Commission Management and Reporting
‘Twas the night before Christmas, when throughout the company, not a sales rep was stirring, not even a boss. The commission statements were hung by the water cooler with care, in hopes that St. Nicholas would spot them there. Continue reading
A lot of people use spreadsheets for just about everything from tracking expenses, billing clients, payroll, and even for calculating sales commissions.
But as we discussed in a separate blog post, using spreadsheets can come with quite a cost in errors and time inefficiency. Continue reading
Did you know that 90% of spreadsheets have errors? Spreadsheet errors are not something to take lightly, especially when computing for sales commissions. They cause problems like:
- Incorrect Payments
- Late Payments
- Lost Productivity
- Unhappy Sales Reps
- Misstated Financials
How does it happen? Continue reading
The sales commission world is highly driven by incentives. Sales reps get paid a corresponding flat amount or percentage on gross profit if they close a deal or acquire a new client for the business.
Using incentives as a tool to get the results that you need – business-wise – is undoubtedly an intelligent move.
But how can you ensure that your incentive scheme works for both you and your sales reps? Christopher Cabrera, author of “Clean Water for a Billion People: The Transformative Power of Incentives” said: Continue reading
Holiday Pay: Cost of Holidays May Be Getting More Expensive for Employers
In a recent article on The Telegraph entitled, “Companies Braced for Jump in Payroll Costs as Workers Could Soon Claim Commission While on Holiday,” it was announced that millions of workers in the United Kingdom are soon going to be entitled to extra holiday pay. Continue reading
Case Study: Sanity Solutions
Sanity Solutions, offers specialist in data management, backup and recovery solutions plus partners with some of the industry’s largest companies (Cisco, IBM, Citrix, Dell). With so much at stake, Sanity wanted to ensure their sales commission management process was efficient and accurate. Controller Sheila Gentile described Sanity Solution’s commission process as “a manual routine with extensive reliance on Excel. In the past, we have negatively experienced errors with cell calculations as well from the general import of data.” Continue reading
The Excel Addiction and its Impact on Your Sales Team and Potential Business Reputation
By Steve Peterson (VP of Marketing & Channel, CellarStone)
The first Windows version of Excel was released almost thirty years ago in November 1987. So, like all great things, let’s celebrate its history and impact on business. For many of us who started with Lotus 123, Excel is a tool that has been used regularly throughout most of my career. For my senior colleagues, I still recall my first assignment using a calculator with the green ledger sheets. If you recall using the abacus, then you are really dating yourself. Continue reading
Top 5 Reasons Cited for Capping Sales Commissions
By Heather Peterson
At its root, commissions serve as a motivational tool to drive sales performance. These “carrots” are the foundation for an incentive system to evaluate a sales representative’s productivity. Sales reps that reach or exceed the goals are rewarded while sales reps that do not meet goals provide a business with insight into performance, projection, people or product issues. Continue reading