Management of Sales Performance to Improve Customer Results
To produce revenue and maintain an advantage over the competition, organisations rely on highly motivated sales teams. The sales team is a key factor in driving bottom-line development for the success of the entire organisation because they serve as the crucial conduit between an organisation’s goods and services and its customers.
Organizational leaders must have a firm understanding of sales performance management based on tried-and-true strategies and solutions that are in line with organisational objectives in order to properly motivate and compensate these workers. They are turning to trusted advisors to demystify sales performance and guarantee business outcomes in an environment of economic uncertainty.
Companies begin to consider how to compensate their salespeople right before the fiscal year, according to David Cichelli, a revenue growth advisor at The Alexander Group who is well-known for his work tying sales success to organizational goals. People asked some unique queries this year, such as “Are wages increasing? What about online sales? What effect will that have on our sales team? What about attrition, you ask?
At the SAP North America Sales Performance Management Customer Summit, which took place February 21–22, 2023, at the SAP facility in Tempe, Arizona, Cichelli presented his ideas to SAP clients. Cichelli stated that “the connection between quotas and sales projections has to be accurate,” even though sales compensation is frequently dependent on estimates that are not very precise. You run the danger of either underfunding or overpaying your salespeople if you can’t get that right. Watch a Cichelli conversation.
The global summit, which was held under the theme “Better Customer Outcomes,” drew attendees from 25 different sectors that use SAP Sales Performance Management. They arrived to get information on the most recent upgrades and features for the entire product line, which includes SAP Commissions, SAP Territory and Quota, and SAP Agent Performance Management. Product specialists and SAP partners were available to meet privately to address queries and facilitate breakout sessions. With support from SpectrumTek, Canidium, OpenSymmetry, Accenture, and Cahaba Consulting Group, the gathering served as a showcase for the SAP ecosystem. Watch a discussion about SAP Sales Performance Management with Accenture.
Commitment to Innovate, Empower, and Connect Customers
According to Rahul Iyer, general manager of SAP Sales Performance Management, SAP SuccessFactors, who gave a state of the portfolio presentation during his keynote, more than 650 customers handled commissions for more than 12 million payees in 2022. He observed a rise in adoption from international clients eager to make use of SAP’s capabilities. 25% of Fortune 100 companies use SAP Sales Performance Management, and they depend on it to show a unified view of variable compensation, decrease errors and payout time, and provide an engaging user experience. According to Iyer, customers are beginning to view total remuneration as a whole, incorporating a variety of pay components like incentives, management by objectives, commissions, restricted stock units, and recognition programmes.
News Source : SAP News