The data collected from commission calculations offer clear insights into sales performance. Additionally, it also provides some of the best information in the company for many other purposes. If compiled correctly, commission reports, dashboards, and analytics are effective tools for leadership as well as for employees.
What’s generated through commission management is the most accurate sales data you can get your hands on. This is because every time a commission cycle is run, that data gets scrubbed. So leveraging that work and incorporating it into reports would be effective in measuring overall sales performance.
Reports built with commission data deliver insights that help sales organizations grow revenue and improve sales.
At Core Commissions, we support clients in building a wide range of reports that sales, marketing, and leadership find insightful. We can also help you determine what reports to create and who to send them to.
What Reports Can You Build with Commission Data?
- Individual Commission Reports: A basic commission report provides details on how an individual performed and how that translated into earned commissions. This helps communicate where wages originated from and how each sale contributed to an employee’s paycheck.
- Territory Performance Reports: A higher-level look views overall sales and revenue generated across a territory. Reports like this deliver insight into how sales fare with a demographic or trends toward growth in a geographic location.
- Team or Managerial Commission Reports Combining data from an entire team creates the opportunity to look at how sales progressed. It also delivers details on which team members excelled compared to those who underperformed.
- Trended Sales and Performance Metrics: Once managers have reviewed team performance, higher-level management may want to look at overall sales. A report like this could look at combined sales growth over a period of time or compare territories, teams, or individual sales. This could be an important tool in determining new quotas or sales goals.
- Sales Revenue Reports: Thanks to the amount of detail that needs to go into commission cycles, revenue data can also be generated. If compiled correctly, a commission report featuring sales revenue can offer details on how revenue has fared over time.
- Other Sales and Finance Reports: Core creates a variety of reports for clients using the data they generate through commission management. We can help you identify the best ways to review this information. That includes accrual and ASC 606 revenue recognition schedules that can be imported into a company’s general ledger.
Who Gets Commission Data Reports?
- Payees: Obviously salespeople, agents, contractors, or anyone else earning commissions from your company needs a report. Providing this shows an individual what they earned, how they earned it, and what to do to earn more. Being detailed cuts down on commission disputes and questions from employees as well.
- Sales Managers: Anyone overseeing a team earning commissions should have access to team reports. They can be a useful tool in properly directing a team toward success. A team report may also allow a manager to identify top performers and underperformers ahead of employee reviews.
- VP of Sales or Sales Directors: The people who make decisions about quotas and sales goals require a full overview of sales. This should include sales data and commissions over the previous fiscal year or a different period of time.
- CFO or Finance Directors: Anyone in charge of the financial direction for an organization should look at revenue from all perspectives. Numbers on revenue through commission data would not only be helpful but it could unlock insights not found elsewhere.
- Other Employees and Executives: Depending on your organization’s structure, there could be even more people who could use a look at commission data. We can work with you to determine who that might be.