Depending on who you talk to, the actual process of commission management requires hours or days. It’s the tedious work of hunting down data, pulling it into spreadsheets, checking formulas, and auditing results. All that happens before you even create reports for each employee earning a commission.
Commission management is a task that you only revisit once a month — in some cases, less. Once that predetermined commission time rolls around, a commission administrator jumps right in. They face stacks and stacks of statements. The lucky ones operate software to organize that data. No matter where the numbers are, an administrator spends ages finding them and putting them in the right place.
Core Commissions saves so much time on commission management that administrators can take a much longer coffee break.
Sales organizations simply accept the time and resources poured into this task as “the way it’s done.” Luckily, advancements are emerging in the world of commission management.
When you implement commission software, like Core Commissions, you save time on every step of the process. In fact, our application immediately cuts down on the workload by 85 percent.
When it comes to commission management, how long should you spend on it? Scroll down for more on how to save time immediately.
Pulling Data from Multiple Sources
The data used to determine commissions is stored in a number of different places. It comes in statements from third parties that are then converted into a different format. Other times, the data is stored on someone’s computer. It also sometimes lives in an application, like a CRM. Wherever it is, it gets collected and incorporated into whatever you’re using to manage commissions.
In the case of Core Commissions, that data is easily imported. In fact, if you integrate your business systems, you automate this task. Either way, we cut this part of the process down from countless hours to a few minutes. At most, you may need to export a document and import it into Core, typically a 10-minute job.
If you need a little extra help in this arena, our Managed Services package takes the entire process off your hands.
Calculating Complex Commission Variables
Those sales organizations using commission spreadsheets to manage the process feel the pain of complex calculations. A spreadsheet is a mess of formulas. Very often, a cut-and-paste error or a duplicated document results in inaccurate calculations. Not only is it be difficult to set up each cycle, but it’s also usually a wreck that takes time to clean up.
Thanks to Core’s easy-to-use technology, administrators implement even the most complex commission structures. Once done, calculations run instantly at the click of a button. Additionally, the Automated Auditing feature allows administrators to review each piece of the calculation to eliminate errors before results are set in stone. What normally requires at least a full workday to pull together drops to mere moments of work.
Generating Commission Reports
Creating a report for each and every individual earning commission is a time-consuming job. Administrators buried in excel sheets wade through cells and formulas to get the information needed for each report. They already spent days pulling data and calculating accurate commissions. Now they revisit everything for minute details included in a commission report.
On the other hand, Core’s application makes this a simple function. As data gets pulled into the Core application, analytics and metrics are immediately available for reports. With access to a wealth of ready-made reports, administrators easily populate a statement for each employee. The Bulk Email Tool eliminates the need to email each of those reports out individually too. Our Sales Web Portal also gives reps the ability to check in on their progress at any time without requiring a report. Another day of work reduces to a couple of hours at most.
Reviewing Sales Quotas and Sales Performance
Teams working with commission spreadsheets don’t have an easy option to review commission data for performance insights. It requires even more time to delve into those excel sheets for details on sales trends.
With easy-to-navigate dashboards, Core turns that situation right around. Administrators use drag-and-drop tools to build charts and graphs that show information at a high level. They also easily dive into details for more information on sales performance.
If you need to cut the commission management workload immediately, we have the solution for you. Contact us to get all the information you need. Or set up a free demo and we’ll walk you through the application. Let’s get started!