Automating processes gives your business greater efficiency, capability of adapting to changes, reduced human errors and clarify job roles and responsibilities. Automated business processes means ensured compliance in some of the most common areas of fault. But, what about the commission tracking process? Automation is vital to perform a commission tracking plan too, let’s get into the details.
A lot of companies and sales directors use spreadsheets to do commission tracking, but this can trigger some errors. The first problem with this is that the data is not available to all those that need it, let’s remember that transparency is key for a sales team. Plus, if your business is in constant growth, you’ll be stuck working in a lot of spreadsheets far more than you want to. Maybe we use spreadsheets because is the cheapest commission tracking tool, but how inexpensive it turns when you are losing money because of the big risks of making mistakes?
Spreadsheets are the most common tool for commission tracking process
Manual and complex spreadsheet commission trakings take time. Think about the time you can save by automating your commission tracking process, that’s a lot right? After all, spreadsheets are a manual process susceptible to error. Therefore, when modifying incentive programs, commission administration costs boost as more spreadsheets are added in into a deficient commission tracking system.
With manual commission tracking come risks and mistakes. An error in a single cell can result in overpayments, and sometimes you are not sure where the error was generated. In a study done by CBC, it was found that 8% of all the surveyed companies’ spreadsheets have errors, and 50% of spreadsheets have material defects. This could result in loss of time and money, damaged reputations, and lost jobs.
Add more value to your time and start automating your sales commission tracking process, it is time for an update! Using a commission tracking software like Blitz will save you time, money and will boost efficiency in your commission plan. With Blitz, administrators and sales directors can spend more time on value added work rather than purely administrative tasks.