George Gissing once said: "Time is money, says the proverb, but turn it around and you get a precious truth. Money is time", and this makes total sense considering that in today's fast-paced world, salespeople and companies know that time is money.
Nowadays, any time wasted on low-value activities means missed opportunities to close deals, build relationships, and drive sales. So, if anyone at your company is wasting time on spreadsheets or time-consuming activities, you’re throwing money away.
The truth is that automation can help! In fact, automation is trending right now. It can help companies manage complex commission schemes while eliminating human errors.
With the right automated commission management platform, businesses can increase efficiency, manage their sales compensation plans more accurately, and save time, money, and resources. So, do you need more reasons to start automating your commission management and calculations to save money?
3 compelling reasons to automate commissions and save money
1. Data Centralization
Businesses are more dynamic than ever. As a result, centralizing all your data will enable you to get a 360-degree view of your insights for deeper analysis.
Typically, the data needed to calculate commissions or generate reports are scattered around different platforms or systems. The person responsible for executing the tasks must dig through all those sources to collect the data they need.
This step can consume a lot of time and effort, but if you want to avoid it, you should trust in the power of automation.
Data integration through an automated commission management platform can help you decrease the amount of time needed for this task. A lot of time spent on a single task like this is removed even just by exporting a document from the source and importing it into your system. In the same way, data centralization will allow businesses to store all their data in one single location.
2. Eliminate spreadsheets
Even if spreadsheets are an easy-to-use tool, they are potentially error-prone, and insecure, don’t scale, and can create data silos. If your teams are using spreadsheets to manage and calculate commissions, they can be spending up to days or hours to get their calculations done.
Typically, once completed, formulas need to be checked, results need to be audited, and errors need to be identified. These mistakes will waste more time and could be even more expensive. So, if you want to eliminate those errors, you need to consider investing in an automated platform that can help you calculate commissions accurately.
Blitz is the solution that can help you automate your commission management processes while improving accuracy and saving time and money.
3. Reporting and Analytics
After data has been obtained and commission calculations are done, the next step is to generate reports.
Each person who receives a commission payment will require a document that outlines their earnings and the details of how they were calculated. Creating these reports manually becomes complicated, especially when a compensation manager or team member must search through spreadsheets to collect the information needed.
Usually, this type of task takes up to a few days to be completed or solved, but an automated platform like Blitz can help you save up to 86% of the time spent in commission management processes.
Additionally, Blitz is a flexible and easy-to-use centralized platform that will enable sales managers or compensation departments to keep track of commissions while providing real-time data and control for detailed reports.
Realize the true value of commission automation
Automation is critical in commission management, especially if you want to eliminate commission errors and reduce time spent on certain activities or processes. So, if you’re rethinking how your sales managers are calculating sales commissions, automation can help you save valuable time and money.
Forget about errors and the old and traditional ways of calculating commissions; Blitz is the automated solution you need to empower your organization to build the right compensation plans for fast-changing business goals.
From insurance to retail and finance, Blitz is the one-single platform that adapts to your specific industry needs.