Incentive compensation management (ICM) involves designing, implementing, and optimizing a strategic plan around sales commissions and incentives. The goal of ICM is to improve sales performance by keeping salespeople motivated while keeping incentive schemes within a margin theoretically, this allows the organisation to maximise revenue.
Features:-
- Sales compensation plan creation:- Easy for Sales to create incentive compensation plans without IT assistance.
- Complex sales crediting:- Users can set up complex crediting chains to attribute credit for sales to multiple tiers of employees and/or partners.
- Sales compensation process automation:- Automates processes related to sales compensation, like incentive and quota plans, approvals, dispute resolution, payroll processing, etc.
- Incentive auditing/regulation compliance:- Internal workflow and tracking elements create an audit trail and help ensure regulatory compliance.
Benefits:-
- Less-time consuming
- Error-prone accounting practices
- Better visibility