Skip to main content
Iconixx Insights BlogIncentive Compensation ManagementSales Performance Management

Track employees with incentive compensation software

By August 9, 2013January 16th, 2023No Comments

Designing an incentive compensation program is more than just a one-step process. From planning to implementation and review, it’s important to remember that incentive compensation management is a multi-faceted process that requires consistent monitoring and tracking. Incentive compensation software simplifies the monitoring process. The software, which will help executives plot out specifics regarding base pay, commission rates, bonuses and merit increases, also provides a window into employee performance. ICM software allows an executive to track employee sales] and attendance, and see how an ICM plan is affecting performance. This is an invaluable tool, as a supervisor will be able to tweak a plan as necessary to drive performance as effectively as possible, and open up communications with staff to take their suggestions. A VP of sales can log into the program and soon will be presented with sales data sorted according to salesperson and department. An executive can even look into industry trends, allowing a company to stay sharp and compare sales numbers with those of a competitor’s. A supervisor will be able to see how different program participants respond to a particular incentive, such as a gift card, bonus or extra day off, and can shift or reinforce a plan when they see fit.

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.