How to Automate Sales Commission Calculations
5 min read | May 11th, 2022
What is a Commission Management Tool?
A commission management tool helps to easily keep track of generated, paid, and submitted commissions.This ensures that your sales reps are being compensated accurately and on time for the deals they close. And the best part? It avoids that back and forth between your accounting team and sales teams regarding payouts. Certain sales compensation tools can be integrated with Salesforce to prevent flipping between platforms – further saving you time in your workflow.
Are There Other Benefits?
There are so many benefits to automating your commission calculations with a sales compensation management tool. In addition to saving you substantial time in your day to day work processes, it also boasts these added benefits:
– Improved Accuracy: Manual commission calculations are often prone to human error as a result of relying on spreadsheets and formulas. A sales compensation tool acts as your single source of truth so you can calculate commissions with confidence. You’ll get access to accurate, granular data around specifics of each sales incentive plan, minimizing the risk of incorrect calculations and payments.
– Enhanced Visibility: For any organization, data is power and having access to critical sales data that is updated in real-time helps your team visualize trends across individual plans, teams, and the entire organization. This in turn motivates sales reps to see what they’ve currently earned and aim to earn more.
– Increased Productivity: It’s no secret that manual commission calculations can be incredibly time consuming, especially if you have a large team. Commission automation helps you manage a high volume of data seamlessly and allows sales teams to effectively manage pipelines by centralizing key information. All of this means that you’re able to promote scalability and growth throughout your organization by no longer being limited to how far spreadsheets can take you.
– Promotes Org Transparency: Comprehensive reporting offers intelligent analytics into sales commission data to empower the sales reps, team leaders and management. Break down data to identify areas of growth and improvement and cultivate an environment in which you and your sales team can focus on the future of the company.
Why Integrate a Commission Tool into Salesforce?
By utilizing a sales compensation tool, it means your org will benefit from improved accuracy, enhanced visibility, increased productivity and org transparency – among many others. But by integrating it within Salesforce, it means that all information and tools are localized so you can find what you need when you need it – no more endless scrolling for the right options, and no more platform hopping.
How Do You Automate Sales Commission Calculations in Salesforce?
If you’re looking to automate sales commission payments, plans and calculations, there are a multitude of options that are 100% native to Salesforce, enabling you to take back control over your commissions without ever having to leave the instance. One of the great things about the Salesforce community is that there is more often than not a pre-existing solution to your problem, so there’s no need to spend time reinventing the wheel. However, with the innumerable amount of applications out there, it can be hard to determine which one is the best fit for your business’ goals. Access Commissions is an application created by Access Global Group to simplify the sales commission process and offer users a way to take back control of payments, plans and calculations.
Access Commissions Fast Facts
– 100% native to Salesforce and can be found on G2
– It’s affordable – a free version of Access Commissions is currently available with 5 plans / 5 users
– Features a home dashboard that’s customizable for your specific needs and displays key data that updates in real-time
– Sales commission plans and structures can be tailored to your specific needs and goals regardless of industry
– Equipped with pre-built commission reports such as commissions by month, quarter, year and so much more
– Equipped with pre-built commission plans such as Entry Criteria, Commission Payout Rules, Schedule Criteria, Commissions, and Assigned Users and are fully customizable for your specific needs
– Easily create sales commission plans and manage the licenses on those plans
– Users can easily view all generated, paid, and submitted commissions; customizable by date, plan, and users
-Assign sales reps to commission plans with ease
Setup is easy, and once downloaded, Access Commissions is ready to use. Designed with a crisp user interface, Access Commission houses all critical information under five centralized tabs: Admin Setup, Commissions, and Reports & Dashboards. The Admin Setup tab offers two two options: “Commission Plans,” where users can create commission plans and “License Management,” where you can manage the licenses on those plans.
The Commissions tab is where you can view all your generated, paid, and submitted commissions, all of which are customizable by date, plan, and users. The Reports tab features pre-built reports for most anticipated business needs, such as Commissions by Month, Quarter, Year and so much more. The options on the reporting side are truly limitless. Finally, the dashboard acts as the heart of Access Commissions, offering users a 360 degree view of everything from reports and plans to users and data, which is conveniently updated in real-time to ensure that you’re viewing the most accurate data every time. Your dashboard is yours and is fully customizable for your unique business model.
On time payments make for happy sales reps and happy sales reps are 12% more productive at work. Every dollar matters and you deserve a solution that saves time and cuts costs. So what are you waiting for? Access Accuracy, Access Management, Access Efficiency – Access Commissions. To learn more about this revolutionary application, click here.
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