A well architected and flexible compensation module that can be easily integrated into existing software is key to a successful sales force. Vast Edge incentive compensation package takes sales data from various existing systems and provides configurations to effectively track and distribute sales commissions. The commissions can be prorated after territory/account reassignments, distributed across sales hierarchy, shared with the channel, calculated differently for net new orders and renewals/subscriptions/usage consumptions, and weighted by order size / target quotas.
Managing complex incentives is a daunting task for businesses. For fast-growing companies, it is a big struggle to maintain manual, legacy or home-grown systems. As these systems lack the flexibility required to model, implement and manage a modern and complex incentive compensation strategy. Your corporate performance strategy and growth is heavily dependent on accurate prediction, administration and tracking variable pay outs. Additional workflow approval module can be integrated to approve sales commissions. The reporting modules include actual sales commission reporting, projected sales commissions, comparison against target quotas, and gross product profitability calculations after distributing commissions.
NetSuite Incentive Management
NetSuite Incentive Management allows businesses to design complex sales commission rules, tracks various revenue-based compensation plans and avoids complicated spreadsheets to save time. It easily combines employees commission to prebuilt sales data and enables salespeople to view their incentive through automated commission reporting.
NetSuite provides an easy-to-use incentive compensation solution to address the challenges of creating and maintaining complex multi-tiered commission plans. NetSuite incentive compensation management lets you quickly deploy sales commission programs aligned with the needs of your business and provides a clear overview of incentives for sales reps.
Key Capabilities
Improve Retention
Reduce overpayment risk and shadow accounting while improving retention by reducing sales commission errors and making accurate, timely payments.
Optimize Sales Commission Spending
Dashboards and reports provide visibility into some of your largest costs the sales commission budget allowing you to optimize sales commission spending and effectiveness.
Increase Productivity
Improve sales operations productivity with simplified compensation management.
Motivate Sales Professionals
Easily create new sales incentives and provide real-time visibility into commissions.
Benefits
Flexible Incentive Compensation Management
- Configure sophisticated sales commission rules based on quotas, sales, quantity, profitability and other criteria.
- Support a global sales force with NetSuite One World, using multiple currencies to payout commissions.
- Set flexible commission schedules.
- Make changes to sales compensation plans as required.
Complete Back-office Integration
- From sales commission calculation to payment through integration with NetSuite premier payroll service, or with your existing payroll solution.
- Simplify integration with NetSuite order management by reducing manual processes and errors.
- Streamline back-office processes.
Improve Sales Visibility and Alignment
- Ensure that sales, sales operations and finance can monitor sales trends, quota performance, attainment distributions, summary and detailed compensation using role-based, real-time dashboards and reporting
- Allow salespeople to forecast their earnings and see commission reports integrated into their sales dashboard.
- Simplify compensation management for your channel.
Salesforce Incentive Management
Salesforce Incentive Management Module empowers businesses to configure compensation plans and commission rules while meeting your unique needs. It leverages quantity and revenue definitions with flexible multi-tier compensation plans to use custom monthly, quarterly and annual quotas. The Salesforce multi-currency quotas and commission deploys multi-currency payments of sales reps and empowers to transact businesses in all currencies. Additionally, it focuses on innovation and achieves unparalleled speed to market with promise to deliver a superior user experience with enterprise-level security.
Key Capabilities
1. Ensures that sales reps understand the direct association between business goals and rewards.
2. Self-supporting features to compensate employees for superior performance to enhance the company's earning.
1. Increased loyalty to encourage great customer service and long-term business relationships with sales reps.
2. The best sales reps compensate the more, drawing a correlation between their increased effort and their compensation and recognition.
Benefits
1. Ensures that sales reps understand the direct association between business goals and rewards.
2. Self-supporting features to compensate employees for superior performance to enhance the company's earning.
1. Increased loyalty to encourage great customer service and long-term business relationships with sales reps.
2. The best sales reps compensate the more, drawing a correlation between their increased effort and their compensation and recognition.
SAP Sales Incentive Compensation Module
SAP Sales Incentive software optimizes and deliver compensation plans and to drive profitable behavior and grow revenues while increasing the effectiveness of sales teams. It also maximizes sales performance and bring transparency to business sales to enhance commission ROI and reduce errors.
The SAP sales compensation module enables sales reps to meet high customer expectations and delivers superior performance by increasing seller motivation and healthy sales competition. Moreover, it supports on-board compliance to gain visibility into planning, performance and payments.
Key Capabilities
1. One click traceability over quick resolution of enquiries.
2. Cloud deployment and comprehensive compensation management.
3. Various scale buttons linear, marginal, target factor and so on.
1. Real-time payment and performance insight.
2. AI recommendation to plan optimization.
3. Analytics-based forecasting for commission earnings.
4. Calculate and report on partner commission.
Benefits
- Develop and distribute strategic incentive compensation plans at scale to drive the right sales outcomes for your global workforce.
- Unlock insights with rich analytics and leverage prescriptive AI recommendations to improve plan performance without third-party business intelligence software.
- Eliminate overpayments and resolve compensation inquiries in seconds with one-click traceability.
Oracle Sales Incentive Compensation Module
Oracle Incentive Compensation Application motivates customer sales while allowing organizations to explore the components of incentive commission plan, and manipulate them to achieve spectacular outcomes. It automates the design, administration and analysis of transactional pay for performance incentive programs. The universal variable compensation software leverages sales incentives to business objectives to motivate sales reps, 3rd party representatives, customers, resellers and partners through incentive insight.
1. Manage these incentive programs with greater agility and lower TCO while maintaining necessary financial and process control.
2. Reduces 90% of commission over payments representing 5-8% of your total commission expense annually.
1. With accurate and on-time payment, reduces shadow accounting and improves sales and trust.
2. Increased wallet shares to increase cross sell/up sell, improved customer service and customer retention.
Benefits
1. Manage these incentive programs with greater agility and lower TCO while maintaining necessary financial and process control.
2. Reduces 90% of commission over payments representing 5-8% of your total commission expense annually.
1. With accurate and on-time payment, reduces shadow accounting and improves sales and trust.
2. Increased wallet shares to increase cross sell/up sell, improved customer service and customer retention.
QuickBooks
QuickBooks Incentive Sales Compensation module calculates sales commissions, tracks actual invoices and payments and ensures sales reps are paid to right commission. Also, synchronises desktop data in-minutes and leverages an online incentive dashboard to check credits and verify pay-outs. The QuickBooks crediting and calculating engine creates sales incentive plans, runs commission plans, view incentive dashboard and generates commission reports.
Key Features
1. Enhanced system navigation.
2. Extended assistance ability.
3. Automatic payment reminders to due customers.
4. Ability to consolidated invoices into a single email.
1. Invoice payable software ability creates professional invoices.
2. Inventory tracking accesses to all products sold, cost of goods, and inventory management, including inventory adjustments.
Benefits
- Sophisticated Commission Rules: The commission can be calculated based on a linear scale, a marginal scale, a target factor or no scale at all. While a linear scale uses the total value of the order, the marginal scale allows portions of the order value to determine the payment. With the target factor, a linear scale is used to set a single schedule to allot a percentage.
- Set up for Split Commissions: Enables to determine the payout for each team member and split commissions between multiple sales individuals involved in the transaction based on their contribution percentage in the sale.
- Adaptable Commission Approval Processes: Ability to provide manual rides during the commission approval process, credit or debit towards the next pay cycle to handle the over and underpayments and start of commission calculations after the approval of sales order all make the commission approval process flexible and adaptable.