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Iconixx Insights BlogIncentive Compensation Management

Reduce errors with incentive compensation software

By September 16, 2013June 11th, 2024No Comments

Busy HR professionals and VPs of sales are often pressed for time. Tasked with everything from handling payroll to employee coaching and sales management, it’s tough to make time to manage spreadsheets tracking employee sales figures. However, in order to implement a strong incentive compensation plan, accurate tracking is essential.

Using spreadsheets may be popular at some companies, but these manual technologies are quickly becoming out of date. As any HR professional knows, it’s easy to enter a wrong number into a spreadsheet every once in a while. In other fields this may not be a big deal, but with sales, small errors add up and can lead to incorrect compensation and other issues.

Instead of using spreadsheets, smart companies are choosing to use incentive compensation software. This powerful software automatically updates sales information on a regular basis, so compensation plans, including bonuses and merit increases, are always doled out correctly. Automatic processing ensures numbers are accurate, which is extremely valuable for busy HR professionals. The software will take care of uploading and analyzing sales data, freeing up time for members of a company whose time and energy is needed elsewhere.

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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.

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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.

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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.

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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.