Types Of Compensation Models
Organizations can use a variety of compensation models. But which one is best for your business? This is determined by a number of factors, including the size and structure of
Sales Performance Management Solutions
SPM solutions provide a platform to administer, automate, and elevate your sales operations and variable-pay compensation processes. Benefit by reducing risks and costs while at the same time increasing accuracy, transparency, and productivity.
Purpose-built platforms & functionality
Incentive Compensation Management
Align your sales teams and strategic objectives to achieve desired revenue targets, comply with regulatory standards, and adapt to market changes quickly and efficiently.
Territory & Quota Management
Efficiently create, monitor, and align quota and territory assignments with your business strategy. Simplify and automate your complex tasks with powerful workflow solutions.
Reporting and Analytics
Gain insight & visibility into mission critical metrics such as performance trends, compensation drivers and revenue flow with advanced reporting and ad-hoc analysis.
Automate Your Complex Processes And Scale With An Industry-Leading SPM Platform.
3 reasons why our SPM Solutions let you focus on your business
Fuel revenue growth in uncertain times
Take control of business results by connecting sales objectives to sales performance. Drive desired sales behavior and motivate sellers to outperform targets by designing compensation based on data-driven insights. Integrate sales plans & results with strategic plans for a comprehensive view of business performance.
Employ Powerful Analytics for Unparalleled Insights
Mitigate performance uncertainty by gaining deeper insights into factors that impact sales outcomes. Improve sales team retention & productivity while reducing cost of compensation by identifying and analyzing pay vs revenue discrepancies, ideal incentives & rewards and compensation cost inefficiencies.
Adapt to Market Changes
Build agility in sales strategy by anticipating market disruption. Respond deftly to internal and external changes such as M&As & new incentive programs by accurately predicting and evaluating the impact of multiple scenarios to identify best courses of action for optimal sales results.
FAQ - SPM Solutions
Sales Performance Management (SPM) is a data-driven approach to planning, managing and analysis of sales performance at scale, that motivates sales teams, generates results, and drives revenue growth. SPM helps companies reach their full sales potential and maximize their return of investment in sales. It can be broken down into the following 3 capabilities:
- Planning and Forecasting (including TQM)
- Incentives Management (ICM)
- Sales insights through Analysis and Reporting
Read more: What is Sales Performance Management?
Sales Performance Management enables the organization, from seller to executive, to track, monitor and adjust behavior for sales outcomes.
- Increased seller motivation & trust in compensation data due to enhanced visibility, transparency and accuracy of plan and payment details.
- Complex administrative functions are simplified and automated to ensure timely payment processing and flexibility to adjust and adapt changes with ease in a secure, accurate and auditable environment.
- Eliminate risks of over- & under-payments that would otherwise go undetected and adjust plans for optimal effectiveness through insights from advanced reporting & analytics at your fingertips.
- Better understand the impact of planned changes before roll-out through robust modeling and forecasting capabilities.
InnoVyne Insights
Scenario Modeling & Forecasting in Sales Performance Management
In the world of Sales Performance Management (SPM), maximizing returns on sales investment in the form of optimal business performance is the primary success criteria. To this end, the underlying
How COVID-19 has changed Sales Performance Management in the Retail Industry
The retail landscape has undergone a severe disruption in 2020. Modern retail has already seen its fair share of challenges over the years with growing overseas competition, international sourcing issues,