Sales compensation has become both more complex yet more critical to a company's growth and success. While most finance departments struggle to manage the process, many run the risk of non-compliance with Sarbanes-Oxley (SOX) due to errors resulting from spreadsheet-based systems.
Leveraging sales compensation management positively impacts a company's top and bottom lines because it aligns sales behavior directly to corporate financial objectives for increased sales performance and profits. Managing the sales compensation process effectively enables a more productive and efficient sales organization that is not only motivated, but also has real-time visibility into their individual and team performance.
Mark Smith, CEO and Executive Vice President, Ventana Research, stated in a webinar devoted to the topic of sales compensation management from the financial perspective, “Many acute challenges include driving, tracking and monitoring better accuracy and providing consistency, oversight and legal compliance. It's a complex process, but it has to be executed effectively-- not with the technical, operational or financial silos that are common today--but by providing insight, accuracy, agility, strategic solutions and improving process quality.”
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