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Sales people sell what they’re incented to sell. The best incentive plans are developed and executed using analytical insight to ensure the plans are aligned with objectives and well-designed before they are rolled out. Rules-based automation makes the incentive plan to payment process highly efficient for allocating credit, determining earnings, and even updating financial records to ensure accuracy. Use this modern best practice to streamline your approach to incentive planning and awarding payment.
Define incentive plan based on performance measures and sales strategy. Use accelerators, thresholds, and gates to augment behaviors.
Align relevant employees and third party resources with optimal incentive plans.
Launch plans to support selling with the right behaviors.
Use rules-based automation to allocate sales credits and splits.
Determine earnings based on plan rules for a particular time period.
Identify outliers, audit earnings, and manage adjustments and/or exceptions.
Process payment and automate updates to financial records to ensure accurate statements and accruals. Intelligence-driven review, monitoring and fine-tuning.