A sales team represents one of the most important pieces of a business organization. Accordingly, motivating a sales team can be quite difficult. There are many external factors that affect motivation. One such factor can be the repetitive “NO” that they receive from prospects.
Excel is known to be a powerful and useful tool. With it, businesses can collect, track, and manipulate data. But it was never designed to meet all of your business needs, and it certainly isn’t the best choice for tracking or processing sales commissions for your sales team.
What Causes Sales Compensation Errors?
There is an old saying that you never hear a sales rep complain about getting overpaid; only when they are underpaid. For the sales reps, opening their pay stub or checking their bank accounts and finding extra money from the company is a wonderful, joyous event. It’s like Christmas came early!
Are you still using Excel for calculating sales commission? Then, you should be aware of the following cons of using Excel for calculating sale.
Choosing the best sales commission structure is important to motivate your sales people and achieve your business profit. However, there are many factors that can impact sales commission. Some of these factors include: what you are selling, your employees, the industry, your company size, sales cycle length, and more.