Automating processes gives your business greater efficiency, greater capability to adapt to changes, further reduced human errors, and greater ability to clarify job roles and responsibilities.
Save time and money in your commission calculation process!
Automated business processes mean ensured compliance in some of the most common areas of fault. But, what about compensation calculation? Automation is critically important in creating an incentive plan, too. Let’s get into the details.
A lot of companies and sales directors use spreadsheets to calculate commission payments, but this can trigger some errors. The first problem with this is that the data is not available to all those that need it. Let’s remember that transparency is key for a sales team. Plus, if your business is constantly growing, you’ll be stuck working with a lot of spreadsheets far more often than you want to. Maybe we use spreadsheets because is the cheapest tool to calculate commissions, but it becomes quite expensive when there’s a huge risk of making mistakes?
Manual and complex spreadsheet calculations take time. Think about the time you can save by automating your calculation process. It’s a lot, right? After all, spreadsheets are a manual process and susceptible to error. Therefore, when modifying incentive programs, compensation administration costs can sky-rocket as more spreadsheets are added in into a deficient compensation system.
With manual commission calculations come risks and mistakes. An error in a single cell can result in overpayments, and sometimes you are not sure where the error was generated. In a study done by CBC, it was found that 8% of all the surveyed companies’ spreadsheets had errors, and 50% of spreadsheets have material defects. This could result in loss of time and money, damaged reputations, and lost jobs.
Add more value to your time and start automating your sales commission calculation. It is time for an update! We have the perfect software solution to automate your commission process: Blitz. This will save you time, money and will boost efficiency in your compensation plan. With Blitz, administrators and sales directors can spend more time on value added work rather than purely administrative tasks. Are you interested? Click below and request a free demo!