Spotlight on Sales Incentive Compensation
]CallidusCloud was recently a proud sponsor of World at Work’s Spotlight on Sales Compensation event in Chicago. The event is packed with thought leaders in the incentive compensation space from practitioners to partners. I took part in a session discussing the latest trends in the sales compensation and sales performance management markets. I did a similar session at last year’s event and the difference in topics was night and day. Here are my top three takeaways:
1. Sales Compensation vs. Sales Performance Management
This year there was much greater awareness and understanding of sales performance management. In a very compensation focused audience it was great to hear people are already plotting their next moves beyond incentive compensation automation. Sales coaching and mobile learning were hot topics, but territory and quota planning was something that many were grappling with.
2. Territory and Quota Planning
There’s an inherent link between territory, quota, and compensation. But territory and quota management is a huge pain point in organizations. Companies are looking for a way to manage goals, ensure proper coverage, and align quotas to corporate objectives, fast. We’ve been focused on this topic quite a bit recently, and it was no surprise to see so many people express a need for a way to create territories and distribute quotas faster and easier.
3. Approvals and Spreadsheets
The thing that struck me most was that there are still plenty of companies out there paying out millions of dollars in compensation using a spreadsheet. Yet these same companies rely on systems for approving purchases, in some cases, for less than 50 dollars! So how come you can payout millions in compensation on a spreadsheet relying on emails for approvals, yet when it comes to a $50 purchase a workflow driven process enforces compliance? Something is very wrong with this picture! Gartner released their latest report on Sales Performance Management (SPM) and, like us, are seeing more and more interest in the topic. If you are planning for the inevitable quota uplifts of 2014 or simply want to learn more about SPM, then take a look at the report.