Skip to main content
Sales Performance Management

How sales compensation management software helps you manage sales performance

By January 3, 2017January 16th, 2023No Comments

Sales performance management has become a more data-based strategy over the past few years. Insight Squared explained that the practice involves measuring employee performance across a number of metrics, rather than simply rewarding them for reaching a certain quota. Companies that value sales performance management fare much better than those who don’t. They are far more likely to achieve revenue growth and reach annual quotas. With the growth of sales performance management has come an increase need for sales compensation management software, an easy-to-use tool that helps managers keep track of employee performance.

How sales compensation management software encourages high performance 
As Business 2 Community explained, sales performance management software combines a company’s sales process with its sales culture. The software not only provides a platform on which employees can track their own progress across a personalized set of metrics, but it also allows sales reps to compare their progress to one another.

Sales reps have competitiveness in their blood, and providing a healthy level of competition is a key way to motivate them. Live data tracking coupled with the ability to see where one falls on the performance ladder are key methods to incentivize sales reps. They can compete against both themselves and others with compensation management software.

According to Insight Squared, sales performance management helps employees understand exactly how they are being evaluated. It establishes consistent performance metrics across an entire team and helps sales reps understand which metrics should be prioritized to achieve the company’s goals.

Sales performance management is all about moving beyond quota-driven strategies to focus on obtaining the right clients and making the best deals. With compensation management software, sales reps can keep track of how they spend their time on a daily basis, which will help them determine what changes need to be made to improve performance and snag the most worthwhile deals.

Among many other things, managers can use compensation management software to keep every team member on the same page and promote peak performance strategies. When everyone has access to the same information and is constantly kept aware of how their work is contributing toward company objectives, the team will inevitably see greater results.

Leave a Reply

Close Menu
Ballast Point Ventures

Ballast Point Ventures is a later-stage venture capital fund established to provide expansion capital for rapidly growing, privately owned companies in diverse industries, with a particular emphasis on companies located in Florida, the Southeast, and Texas. The BPV partners have more than 70 years of combined experience investing in and building high-growth companies in a number of industries, including healthcare, business services, communications, technology, financial services, and consumer goods. BPV has $200 million under management and seeks to make equity investments ranging from $3 million to $10 million.

Harbert Management Corporation

Harbert Management Corporation seeks to generate superior returns for their investors by identifying and investing in the most promising early growth stage companies in the Southeastern U.S. HMC seeks to capitalize on what it believes are compelling regional dynamics, such as a strong and fast-growing economy, significant research and development activities, and an established entrepreneurial community. The HMC team combines substantial investment, advisory, and operating experience with capital and networking contacts to support great entrepreneurial teams in successfully executing their growth plans. With offices in Birmingham, Alabama; Richmond, Virginia; and Gainesville, Florida, it’s well positioned to partner with entrepreneurs throughout the Southeast.

KBH Ventures

KBH Ventures was an early investor in Iconixx Software. KBH's investment philosophy plays a significant role in the firm's successful track record. KBH believes in running businesses to be cashflow positive and profitable every month. Startups and companies in a startup mode, such as one that has been purchased in distress, are expected to generate revenue within the first six months and reach profitability within the first 12 to 18 months. KBH also only invests in or acquires companies that are in the startup phase or have less than $20 million in revenues. KBH targets technology companies that offer business-to-business services.

S3 Ventures

S3 Ventures is an early expansion and growth stage venture firm with $200 million under management. It’s focused on information technology solutions that solve large business problems. S3 also invests in medical devices that improve the human condition. S3 invests in category-defining opportunities. It partners with the team and help focus methodically on what it takes to build a successful company. S3 today helps talented entrepreneurs take their technology and market knowledge and form valuable businesses in a repeatable fashion. Investment sizes start at several million or more for Series A, B, and C financing.