Automation is a hot topic right now. With the right platform and automation tools, businesses can increase efficiency and productivity while saving time and money.
Automation can help companies manage sales commissions more accurately, effectively, and efficiently by eliminating human error and providing real-time visibility into sales data.
However, automation can be a double-edged sword if not strategically considered. This robust feature gets wasted if companies do not realize the value of true automation.
Set goals for sales through an automated commission tracking platform
Automation is vital to commission management because it allows companies to set goals for their employees. Goal setting helps employees understand their role in the company, perform better and achieve higher output.
For example, if you run an automobile dealership and want your team to sell more cars, you could set the goal using automation technology. It will enable you to track the sales figures and compare data to identify areas requiring improvement.
Goalsetting also helps managers recognize top performers. Automation can enable customized sales goals based on location, experience, or seasons for different sales professionals.
Use pre-defined rules for commission calculation using automation
You can define the rules for calculating commissions through automation. For example, you can set specific criteria for each case when commission calculations are based on volume or product category. Using automation, you can also configure a rule that calculates the commission amount for every sale and automatically creates an invoice in the system.
Such a system effectively eliminates mundane tasks such as shadow and manual accounting. Proper automation saves time wasted by associates in figuring out their commissions, allowing them to close more deals.
Use data analytics to analyze the results of incentives and sales improvement plan
You can also use data analytics to analyze the results of incentives and sales improvement plans. For example, you can monitor how well individual employees perform compared to their goals or benchmarks. You can also track if there are any opportunities for training or development in certain areas.
Automation can bring the reports and actionable insights straight to your computer, allowing you to work on optimizing team performance rather than wondering how or where to start. From identifying key markets and targets to sales personnel’s performance metrics, automation can liberate managers and companies from tedious tasks and provide them with crucial insights.
Combine automation with real-time visibility and easy integrations
Automation offers a single source of truth for sales commissions that is continuously updated in real-time. By giving meaningful insights into the performance metrics and automating tedious yet time-consuming tasks, automation ensures the company and management pull in one direction.
There is also a reduced risk of human error with automated systems, which results in higher productivity. For instance, companies that employ teams to manage their sales commission system manually end up losing valuable time, which could be gainfully used to pursue leads or close deals.
Automation can help you manage your sales commissions more accurately, effectively, and efficiently. Sales commissions are a great way to motivate your employees and put them on the path to success. But they only work if you know how to leverage automation to make their work easier.
Realize the true value of automation with Blitz
Automating the commission management process with a platform like Blitz can improve accuracy while saving you time, reducing errors, and helping your team or company make more money.
Blitz empowers organizations to build the right commission plans for fast-changing business goals. If you’re planning to supercharge your commission plans, get a comprehensive view of trends and strategies in our blog.