Commission data provides powerful insights. Primarily it facilitates commission payments but it has the potential to deliver sage advice to the company, offering a look into operational metrics that would normally come at an additional price. Sales organizations often overlook those numbers but they can deliver an accurate view of how the company as a whole is performing.
Every commission cycle, that data gets scrubbed rigorously. It has to because otherwise people might not get paid. If something was recorded incorrectly, it results in mistakes in commission pay and an employee will make sure that gets fixed. Thanks to extreme scrutiny from not only the administrator but also management, finance, and employees themselves, that data is about as clean as it can be.
Thanks to extreme scrutiny from not only the administrator but also management, finance, and employees themselves, that data is about as clean as it can be.
With such meticulous input, managers and executives have the ability to review a variety of measurements.
Insights you can pull from commission data include:
- Which products earn the most: once you have all the commission earnings data in one place, you can take a deeper look at which products have earned your employees the most in commissions. That allows management to determine which products as a result are selling the most and earning the most revenue for the company. Armed with this knowledge, the executive team can refocus efforts on those products.
- Territories with the most opportunity: commission data holds the key to the next big opportunities for your sales team. Take a closer look at the territories where your team’s sales have increased over time. This detail can lead you to the solution of where and with whom to focus your efforts.
- Top performers on the sales team: you may have a grasp on who is performing the best on your team through other metrics but commission data really brings that home. If one standout has figured out how to earn the most commission then they’re also earning the company the most money.
These and several more insights may be found in their most raw form within your commission data. You might also find non-sales data, like …
- Product Margin
- Cost of Sale
- Revenue Recognition Schedule
- Amortization Schedule
You just need the power to arrange and drill down into those components—a task that becomes increasingly difficult if the data is dispersed across multiple spreadsheets.
Core’s flexible reporting functionality simplifies reports of any kind. All information uploaded into Core becomes instantly accessible within the report, analytics, and dashboard modules, giving you the ability to easily design that information. In fact, you can use Core’s output tools to tell a story. And your salespeople have access to that story when they log onto the web portal. (You have the ability to limit what parts of the story they see, of course.)
The minute Core has pulled in all the data it needs to run a cycle, those numbers become available as analytics through the analytics module. Choose to view those data points in any way you see fit and drill down even further. You can use different time frames or look a little closer at a salesperson’s quota attainment.
As a way to get sales organizations up and running quickly, we’ve built several standard reports for you. Once you’ve edited your table of records, you can filter that data however you like, include or remove columns as needed, and immediately publish a report to the web. Administrators can bulk email individualized reports to every payee with the click of a button.
If the standardized reports don’t tell the story your company needs, the Core report designer gives you the power to rearrange that data in whatever way you need it. Use drag and drop tools to pull in charts, grids, or graphs that highlight specific insights. Create a bar graph that shows how much each salesperson has earned over a specific period of time. Use that same bar graph to visualize which products are earning the most for the team and for the company.
Using drag and drop tools, you can also set up any view of the analytics you’d like to see in a dashboard. The dashboards provide a larger variety of panels to view more of the statistics you want to see. In fact, you can actively drill down to specific data points and see the data adjust immediately. Dashboards give you the flexibility to learn more about the revenue you and your team are earning as well as any other company performance metrics you want to observe.
If you would like to access the most powerful data your sales organization can find, send us a note and we’ll walk you through how Core can help.