Let’s face it, managing sales commissions and sales professionals is no walk in the park. It starts with enthusiastic dedication and needs constant upgrades, audits, conflict resolution, and documentation to ensure that there are no hiccups.
Sales provide fuel for the rest of the company to run on; hence, you must nurture it. A key component to achieving this is by deploying an effective and transformative sales commission management platform.
Sales commission management platforms must be flexible enough to be an asset to every member of the team and robust enough to integrate the latest technology and features.
In the same way, commission management platforms must be user-friendly and easily accessible while providing adequate cybersecurity to protect the company’s data. It must be cost-effective and provide value for money while not compromising on quality or cutting-edge technology.
It might seem not very easy, but considering the following six factors will help you zero in on the correct sales commission platform for your company. Let's dive in.
6 factors to look for in a commission management platform
1. Integration with the latest technology and features
The rate of progress in the tech space is hard to wrap your head around. So, choosing a platform that can leverage the latest and best innovations becomes essential. New developments in Artificial Intelligence and Machine Learning could open new pathways for sales commission management to function. A robust and effective platform must have the capability of integrating seamlessly with the incumbent processes.
2. Flexibility to offer customizable incentive plans to sales professionals
Every sales rep is different, and the incentives that motivate them must also be different. If incentive plans are designed with a one-size-fits-all approach, the results are more likely to be disappointing than promising. An incentive management platform should allow the company to regularly change incentive plans based on different factors, such as seasonality, goals, performance, experience, etc.
3. Reporting and data analysis to unlock higher efficiency
A critical feature of a commission management platform is its ability to collect, collate, analyze, and report the data it gets. Numerous sales reps input their daily performance, and the platform can turn this data into actionable insights for both the sales reps and the company.
4. Conflict resolution to collect and fix complaints in one place
An aspect that is often ignored in sales management is timely conflict resolution. This builds greater trust and loyalty between the sales reps and the company and helps members focus on core tasks. A platform with inbuilt customer service features is a great time and energy saver. It could be the main difference between keeping and losing your most important sales team members.
5. Automation to reduce manual tasks and save time
Automation is a gift that keeps on giving. Platforms that seamlessly integrate automation relieve their sales staff from worrying about tepid, manual tasks which consume time. They also ensure that important aspects such as payments and analytics are done on time, ensuring overall efficiency.
6. Cost-effectiveness to save money
This is self-explanatory. A sales platform packed with features but exorbitantly priced is like window shopping – good to look at but not practically useful. Find a platform that offers both benefits and value for money.
We help you lead your company to a successful and affordable commission-based solution
The implementation of an effective commission management platform in your company can lead to improving sales performance. However, it must also be aligned with the sales team’s needs. The six factors mentioned above can be a yardstick in your search for the right platform that ushers in operational efficiency and helps streamline processes.
Start automating your sales commission processes while improving your team’s commitment and drive to sell with Blitz.
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