Although today most sales department executives very well know the benefits of using a sales commission software, even today, a majority of sales heads firmly believe that since their Key Performance Indicators are simpler and highly optimized, they don’t need to actually invest in it. Well, if you are one of those people who are confused about and don’t exactly wonder what the presence of a sales commission software can bring to your company/business, you are at the right place. In this article, we are going to enlist 3 reasons why you should definitely invest in a sales commission software.
What are the benefits of using sales commission software?
1. Pay the correct spiffs timely
While your team is always pushing their limits, to achieve their targets, you can actually keep them motivated by timely paying out their SPIFFs. But what does spiff stand for? SPIFF stands for Sales Performance incentive Fund. As the name suggests, these are the incentives that the sales department of a company gives to its employees for overachieving their sales targets. SPIFFs are decided by the sales head of every company in such a way that if X person achieves Y targets (on top of the regular minimum targets), they will be entitled to receive an incentive amount of Z rupees. SPIFFs are a major driving force for the sales team, and if handled correctly they can prove to be a game-changer in making profits for the company.
2. Get insights into the performance of your team instantaneously
It’s a wonder how a strong commission software assists screen sales rep’s performance with inside and out subtleties. The mathematics behind it is simple. The commission software carries out sales impetus compensation to the individuals who have accomplished their targets and guarantee their commission installments. Furthermore, the individuals who have finished the objective are sales rockstars of your group. A robust sales commission software can help to solve many problems at once.
Notwithstanding the performance management, the sales commission report gives an inside and out report and constant permeability on shut bargains. It helps sales supervisors effortlessly mind their team member’s performance. As a sales chief, you could have designated the expansive KPIs like “Month to month Sales Growth,” “Average Cost Per Lead,” and not the specialty ones like “Sales per rep.” But with sales commission software, you can rapidly sort out how the singular sales delegates perform and make the expected move to boost your company’s performance.
3. Say bye to the times of manually updating the sales data
Business automation is driving each and every sector of a business today to curb repetitive manual tasks. Introducing a Sales Commission software in the sales department can help you to channelize the energy of your team for getting better productivity.
There was a time when a dedicated team had to be set up to feed the data of sales target of each and every team member into an excel sheet, and then after calculating the SPIFFs of each individual, you had to pay them and pass the data analytics team which used to prepare reports of each individual, so that their performance could be tracked. Today an efficient sales commission software like ElevateHQ can help you to do all of that without any tension. Moreover, ElevateHQ also helps you to effortlessly migrate from your conventional spreadsheet-based system to the modern Sales Commission software. All you need to do is just define your rules for calculating SPIFFs and KPIs, and then upload your existing data on their platform, they will assist you with all of it and will help you to grow the profitability of your business.