Magazine article CRM Magazine

Money Matters: New Incentive Management Solutions Deliver Top-Flight Tracking and Compensation Information to Companies and Reps Alike

Magazine article CRM Magazine

Money Matters: New Incentive Management Solutions Deliver Top-Flight Tracking and Compensation Information to Companies and Reps Alike

Article excerpt

THE SALES TEAMS have used the CRM system to segment the marketplace, generate leads, track opportunities, create bids, generate proposals, and process orders. So what's next on the rep's mind? Money. He wants to be shown the money--to know how much he's getting paid.

CSO Insights's research reveals that when most companies try to do so they leave the civilized world of CRM and ERP and enter a world of shadow accounting and spreadsheets. We have benchmarked firms that have implemented these jerry-rigged approaches for managing incentive management, and we always hear horror stories about duplicate data entry, information inaccuracy, slow reconciliation times, reps being overpaid, and reps being underpaid.

Although these firms complain about how arcane their approach to managing commissions is, fewer than 10 percent of them have actually done anything about it. However, as the CRM-solution community continues to move to address the problem, the situation should change dramatically over the next two years.

Early applications in this marketplace, while they were very sophisticated systems, were also difficult to navigate. The resources required to get the applications to work were significant, and so big systems were normally affordable only by big companies. Today, I see a different landscape.

First, the incentive management capabilities within CRM systems have been--and continue to be--enhanced, but what will really drive market acceptance is the new generation of employee incentive management systems. Firms like Callidus, Centive Systems, and Xactly are now offering systems that are easier to implement and easier to manage, and offering them at price points that make the systems much more cost effective than in the past. …

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