There used to be a time when the spiff program used to be a hectic duty for every sales team. Tracking the sales performance of every individual, then planning their next target based on their performance and making new strategies on top of it to make them perform better by evaluating SPIFFs, was all the burden of the sales department, and even after highly optimized KPIs, there always used to be some gap between the employer and the employees. Today, a robust sales commission software can do all of that alone. It can prepare real-time dashboards for the performance of each employee, calculate the SPIFFs, enter the data into a centralized database, and prepare the report of each team and individual, saving you hours of work, and your team, their energy which they can use on other places to push their limits, The benefits of a good sales commission software are huge and can help you push your sales targets to some new heights. In this article, we will try to find what a Sales Commission Software is, and how on grounds when employed, it helps the company to achieve astonishing results.
What is a Sales Commission Software essentially?
To understand the role and importance of a Sales Commission Software we will have to first understand how targets actually work in the Sales department of the company. So let us get started with it.
A company has to strategize annually, quarterly, monthly, weekly, and daily targets that they have to achieve. The annual targets usually come from the top tier people in the company like the board of Directors and the Sales head, which the sales department further bifurcates into smaller time phases. Then, these targets are sent to the multi-layered structure of the sales team, so that they can deal with them and help the company to bring business. The sales head plans SPIFFs or commissions on overachieving the target that the sales chain is entitled to get if they fall into the criteria.
Now in earlier days, all these processes were ought to be manual. Every step required a team of 2-3 employees dedicated to merely handling these huge volumes of data. But now, with the technology advancing each day, the workload and energy of the team can be channelized efficiently to get the most productivity out of them. A commission software is nothing but a tool to automate the process of SPIFF calculation and dashboarding each individual’s performance.
Why should you employ a Sales Commission software for your company in 2022?
The pandemic has taught us many lessons. As corporations, we have seen how investing in the comforts of our employees helps us to drastically increase our business and their performance. When the whole IT industry (and other managing corporations, as well) had to move from office spaces to the household setups, and a Work From Home culture, what we saw was a drastic rise in the productivity of each team and an overall rise in profitability of almost all the companies.
We can mark these business lessons and realize how investing in a Sales Commission software can actually save the energy of the whole team by automating the boring repetitive work of data handling, and at the same time help us to have some great insights into the individual to understand our teams better and strategize efficiently for them. ElevateHQ is an amazing sales commission software that helps you effortlessly migrate from your old conventional manual system. ElevateHQ can prove to be a game changer for the sales department of any company. You can also feed in your customized KPIs and SPIFF ratios as per your company, and check the predictions for the next term instantaneously.