Drawing insights from data is the key to success in every field, including sales. With improved data analysis, you will create more accurate forecasts, optimize plans and implement effective sales compensation management. Find out how Qalcwise App can automate the variable pay management and provide your company with increased profits and expansion!
Business growth challenge
Every sales director can tell you that doing business used to be much easier. Starting a company, you take notice of only two indicators – quantity and revenue. These two are easy to calculate. Next, you do the math and pay your salesmen their due commissions. But as your company goes up and enters a high growth phase, further indicators (e.g. market share) appear. About this time, salesmen’s pay breaks into a fixed salary and a premium. Soon you need more qualified salespeople who deserve to be paid in a different model. Further KPIs appear on the menu and influence the sales pays. Various plans of remuneration, commissions, and benefits are introduced, costs and bureaucracy increase… Next thing you know, inaccurate and untimely payments become a real problem. Administrating salaries start to consume more and more time, and you can’t perform a valuable analysis. All of this can harm the company’s financial results.
At this point, companies start to realize that maintaining consistency between business goals and pays requires utilizing special tools for managing sales compensation. Tools that would make calculating variable pay components easy again.
How much does no automation cost?
A spreadsheet is still the most used tool for sales management. Unfortunately, spreadsheets are prone to human errors that result in commission overpayments. They don’t allow for sales plan optimization or effective performance management. Changing previously set territories, tasks, or goals, etc. is also impossible. Once an incorrect estimation of income goes public, you get to face issues like a drop in company value, costly litigations and fines, as well as layoffs and cuts in remuneration. Consequently, the brand that you’ve worked so hard for loses its good reputation.
This is where Sales Performance Management (SPM) tools come in handy. Estimates say that by 2022, 40% of B2B companies with over 100 employees enjoying variable pays will use SPM technology.
Choose agile Apps
Many SPM programs allow you to manage variable pay components. But if you’re looking for an easy-to-implement, user-friendly and 100% adaptive solution, then you need to learn about Qalcwise Incentive Compensation Management App. It provides scalability and extensive configuration options, automating all tasks related to variable pay management. All the processes specific to your company can be easily mapped to Qalcwsie. Performing calculations, analyses, reporting, and payments become much faster and completely errorless. With its easily manageable structure, Qalcwise App will adapt to your company, not the other way around.
WIth Qalcwise ICM App you will enjoy immediate benefits:
- 98% less erroneous overpayments
- 70% cut in remuneration administering costs
- 30% more time for other activities
Who can use Qalcwise?
Qalcwise ICM App is a perfect tool for both large and small companies. It can be fully customized, allowing for the implementation of any set of rules and alerts. This way, it works efficiently within any organization, regardless of their sales plan complexity. The App is ready-made, works online and requires just a minimal configuration. You don’t have to worry about a lengthy analysis and implementation process. Getting started with Qalcwise takes less than 2 weeks! And the cost of the user license is 10x lower than any of competing solutions. Qalcwsie App is ideal for banking, financial and insurance services, also technology and commercial companies. It provides invaluable support for the management and directors of departments like Finance, Controlling, Payroll and Benefit, Sales or HR.
If you want to learn how to automate sales compensation and:
- efficiently manage the variable part of remuneration
- minimize mistakes and overpayments
- reduce the cost of handling salaries
- gain full transparency and better control over the budget
- increase the sales team’s productivity
contact us at qalcwise@qalcwise.com!
