In many industry segments, customers are changing the way they interact with, and purchase from, Vendors & Wholesale Distributors. As we’ve seen many times over, the change often seems imperceptible at first, but gains a momentum that soon becomes unstoppable. Technology and the rapid maturation of the web are a key driving force behind this transformation.
Sales Performance Management Best Practices Blog
Leading Wholesale Distributors are using sales compensation to keep pace with industry changes. Here is a quick summary of why and considerations you should be thinking about as you examine your own information technology & analytics investment priorities.
A collague recently forwarded over an informative video from Frank Cespedes of Harvard Business School focused on Sales Compensation and his views on its place in a best in class sales process. I've summarizing the highlights related specifically to Sales Compensation below and provided a link in case you have the time to view it.
In reading a recent article on the possibility of other life forms in outer space I was amazed at how an interesting principle they referenced could be applied to our thinking about Sales Compensation design.
World@Work recently posted an interesting interview that touched on an often overlooked aspect of the ‘Sales Performance Management’ analytics discussion which focuses on sales force feedback.
Improved Sales Performance Reporting (New Years Resolution #1) is a vital element of your Sales Performance communication strategy, but it is just one element of a broader effort. When you are dealing with a sales force that is spread out geographically, the quality of forethought that you put into your communication strategy can be the difference between success and failure.
Topics: Sales Comp Plan Fundamentals, EVP/Sales Leader, Sales Performance Reporting, Communication/Reporting, CTO, CFO/Finance Leader, Sales Compensation Professional, CEO, Human Resources, Sales Operations
It's that time of the year again and I have no doubt the list of things you would like to improve and accomplish in the new year is long. As a manager, one of the improvements that can have a massive payback on your companies health is to improve the way you report performance to your sales team. Feedback from surveys on Sales Performance Management by WorldatWork & OpenSymetry tells us that for at least 75% of us, there is a tremendous opportunity to improve reporting Sales Performance to your organization. Here are some quick 'take aways' from the survey.
Topics: Sales Comp Plan Fundamentals, EVP/Sales Leader, Sales Performance Reporting, Communication/Reporting, CTO, CFO/Finance Leader, Sales Compensation Professional, Human Resources, Sales Operations
Best in Class Sales Organizations communicate exhaustively about goals & goal alignment. For sales teams, much of this communication is memorialized in the Plan Document.
The vast majority of companies that are considering the use of a Sales Performance Management tool such as NetCommissions use an accrual basis of accounting as opposed to cash accounting. Accrual accounting requires that primary expenses, such as sales commissions, must appear on the income statement in the same period that the sales is reported, no matter when the commissions are actually paid.