Many of our clients are asking about the role of Business Intelligence in Sales Performance Management (SPM) Generally SPM refers to the automation (design, administration, reporting and modeling) of corporate variable-based sales incentive programs. The emphasis is not only on remunerating the sales force but also on effectively and strategically driving desired behavior throughout the entire organization. In this context, BI is fundamental to successful SPM.
A solid Sales Performance Management strategy can only benefit an organization if it delivers the profit and value it has promised. To ensure these results the solution must:
1. Keep corporate goals in mind- These are established and measured through KPIs and Dashboards and must be reviewed to track success or tweak the incentive process.
2. Possess the functionality to align business activities with actual results- Use of what if scenarios and regression testing methodology must be used to ensure proper alignment and measurement
3. Motivate and drive employees and partners while focusing them on the business objectives that produce profit & growth
4. Focus not only on the sales team, but the employees, managers, customers, partners, distributors, retailers, and suppliers who also contribute to the success of the business
5. Measure, review and Modify- SPM is a continuous process requiring constant review and “tweaking” to ensure the best possible scenarios.