Be sure to get a self-evaluation of your Sales Commissions process off on the right foot by fully understanding your needs. By working through this questionnaire up front you should be able to more fully understand the results you're shooting for with any process improvement efforts you consider undertaking.
Topics: EVP/Sales Leader, CTO, CFO/Finance Leader, Sales Compensation Professional, CEO, Human Resources
The Aberdeen Group's research shows that Best-in-Class firms using Sales Performance Management solutions report:
NetCommissions is partnering with Pereion Solutions to bring a new cloud based Channel Incentive Payment Solution to market.
Topics: Channel Commissions, EVP/Sales Leader, CFO/Finance Leader, Sales Compensation Professional, CEO, Human Resources
I had a chance recently to sit down and listen to Jim Kelleher, CFO of LogMeIn, at a recent meeting of the Massachusetts High Technology Leadership Council as he described his experiences with SaaS Sales Compensation plans. It’s always interesting to hear what others are doing with their sales comp strategies and plans, especially from someone with such a broad level of experience and a track record of success in the SaaS world. I am happy to share with you this brief breakdown of some real world advice from Jim.
Topics: SaaS Sales Compensation, EVP/Sales Leader, CTO, CFO/Finance Leader, Sales Compensation Professional, CEO, Human Resources, Sales Professional
The level of involvement of the Finance function in the administration and management of the Sales Commissions process is increasing. This is encouraging finance leaders to take a long hard look at what they can do to balance the trend need for more sophisticated selling behaviors with the need to maintain adequate controls on the sales compensation process without making it too hard to administer. I found a report published by CFO Publishing in late 2010 (In my opinion, still recent enough to be relevant) to add some interesting data and insight to this discussion.
Topics: CTO, CFO/Finance Leader, Sales Compensation Professional, CEO, Human Resources
Homegrown solutions aimed at automating the Sales Commissions process fall into two main categories;
Topics: EVP/Sales Leader, CTO, CFO/Finance Leader, Sales Compensation Professional, CEO, Human Resources, Sales Professional
Best in Class Sales Organizations communicate exhaustively about goals & goal alignment. For sales teams, much of this communication is memorialized in the Plan Document.
Topics: EVP/Sales Leader, Sales Performance Reporting, Communication/Reporting, CFO/Finance Leader, Sales Compensation Professional, CEO, Sales Professional
To cap or not to cap, that is the question! Caps on earnings and/or payouts have been, and are currently, used in the hopes of limiting the damage of runaway commission payouts that could potentially ;
Topics: Sales Comp Plan Fundamentals, EVP/Sales Leader, CFO/Finance Leader, Sales Compensation Professional, Human Resources
It is important for sales teams to be constantly looking at the market, how it is changing, competitive moves and be prepared to adjust strategy & the rewards as the situation dictates. In a recent blog posting by CSO Insights (http://www.csoinsights.com/), recent research of over 1300 companies suggests that almost 70% of companies review and change their sales comp plans annually while another 13 % will do so on a quarterly or monthly basis. Interestingly, these metric lines up closely with the number of companies that chose to automate the management of sales performance with a system like NetCommissions. While you certainly do not want to tinker with your plans too much, for those who are planning to take the time to sit down mid-year and examine how your comp plans are working thus far, the following three considerations may help keep your plans in line with industry best practice (there are many more than three, but hey, this is a blog and we need to keep it short & sweet).
Topics: EVP/Sales Leader, CFO/Finance Leader, Sales Compensation Professional, Human Resources
An investment in Sales Performance Management is intended to deliver on the promise of increased performance, productivity and profitability. While it is true that NetCommissions will deliver on improvements to the timeliness and accuracy of performance feedback to sales, how each company achieves that goal may differ dramatically. Often, staffing strategies will vary greatly from firm to firm based on how each business chooses to focus scarce resources on the multitude of processes critical to their core competencies.
Topics: EVP/Sales Leader, CFO/Finance Leader, CEO
