Intelligent Sales Performance Management software

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Introduction to SPM

There is no denying that the role of a sales leader is becoming increasingly challenging day by day. Growth leaders are faced with the daunting task of achieving aggressive goals in a remarkably short period of time to combat cut-throat competition. 

Another important realisation is that data is everything! With digital transformation taking hold, there is no doubt among sales leaders that data-led approaches to sales strategy are the way to go.

What is Sales Performance Management (SPM)?

Sales Performance Management is a data-informed approach to planning, managing, and analyzing sales performance.

To put it simply, a Sales Performance Management software allows you to use your data in a more systematic and accurate way. This means that you can now gain better insights, identify risks and take more bold decisions in real-time. 

Over the years, it is becoming increasingly clear that SPM is not just a preference but a priority for most sales leaders to gain the agility and accuracy needed to thrive in today’s business environment.

While digital transformation is not a one-step process, Sales Performance Management could be step one for sales leaders!

Benefits of Sales Performance Management

Sales Performance Management solutions streamline the sales process. They help you break the silos of legacy systems by collecting your data from multiple sources (spreadsheets or any other homegrown systems) and streamlining it into a single source of information.

Effective SPM solutions have the potential to-

Facilitate collaboration between departments and teams

Automate and integrate processes 

Allow leaders to effectively design and manage quotas, territories and incentives

Boost sales ROI

Address market and economic shifts

Sales Performance Management Solutions by Industry

Manufacturing Industry

When selecting an SPM solution for the manufacturing industry, it's important to consider the specific needs and requirements of the industry.  

Factors such as scalability, ease of use, flexibility, and vendor support should be taken into account.

It is recommended to request demos, and speak with vendor representatives to find the best fit for your manufacturing business.

Retail Industry

Sales Performance Management tools for the retail industry often integrate with various data sources and systems, such as point-of-sale (POS) systems, customer relationship management (CRM) platforms, and inventory management systems.

This integration allows for seamless data flow, reduces manual data entry, and provides a holistic view of sales performance.

By implementing a robust SPM solution tailored for the retail industry, organizations can drive sales productivity, enhance performance transparency, and align sales activities with business objectives.

Life Sciences Industry

Life Sciences companies operate in a highly regulated environment. SPM solutions for this industry incorporate compliance features to ensure adherence to regulations, such as tracking and reporting of promotional activities, monitoring of fair market value (FMV) guidelines, and maintaining transparency in incentive compensation processes. 

By leveraging SPM solutions, Life Sciences companies can enhance their sales performance management process and gain a competitive edge in the market.

Finance Industry

Financial institutions often have complex commission and incentive structures to motivate and reward their sales teams. A Sales Performance Management system offers ICM functionality to automate the calculation, allocation, and payout of commissions and incentives based on predefined rules and performance metrics.

This ensures accurate and timely compensation calculations, reduces errors, and improves sales team motivation and alignment with business objectives. Customization options and the ability of the SPM solution to adapt to evolving business requirements are also crucial factors to consider.

Features that makes KENNECT the best option

Query Management
System
IC reports and
real time tracking
Enterprise Grade Scalability
Intelligent Nudges
Custom Workflow Management
Seamless Integration with CRM, HRMs, ERP's
No Code plan builder
IC Simulator
Query Management
System
IC reports and
real time tracking
Enterprise Grade Scalability
Intelligent Nudges
Custom Workflow Management
Seamless Integration with CRM, HRMs, ERP's
No Code plan builder
IC Simulator

FAQs

What is Sales Performance Management?

Sales Performance Management (SPM) is a crucial aspect of business operations, especially for organizations that rely on sales revenue as a primary driver of growth. SPM refers to the strategies, processes, and tools used to measure, manage, and enhance the performance of a sales team.

What is the importance of Sales Performance Management?
How to overcome the sales planning challenges with Sales Performance Management?

Sales planning challenges can be effectively addressed with the implementation of Sales Performance Management (SPM) strategies by-

Defining clear goals and objectives

Analyzing historical data

Aligning sales territories and quotas

Providing sales training and development

Fostering collaboration and communication

Why should you upgrade?

Spreadsheets

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Time Consuming and Error prone
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Live tracking not available
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Complex process to manage and collate individual report
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Transparency on queries is non-existent and difficult to navigate
through mails
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Difficult to use data analytics
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Not Scalable

Legacy Systems

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Outdated and Complicated UI
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Limited Data Analytics
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Huge Integrations and professional fees
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Expert and costly resources to manage the systems
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Not built for SPM
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Difficult to adapt to your business requirements

Trusted By

Ajanta Pharma Logo Kennect
Zydus logo Kennect
Alkem logo Kennect

Our Blogs on Sales Performance Management

How to Tackle SaaS Sales Commissions: Designing a Winning Comp Plan

March 14, 2024

Essential steps needed to successfully tackle SaaS sales commissions & craft a compensation plan that ensures optimal earnings & maximizes your sales.

What a Useful Sales Commission Report Looks Like?

March 7, 2024

Learn how to create a sales commission report that satisfies the needs of salespeople, executives, and administrators boosts motivation and improves transpare

What is ACV in Sales? Examples, Calculation And Its Significance

March 5, 2024

Explore The Significance Of Annual Contract Value (Acv) In Sales And Uncover How To Calculate It. Gain Insights Into This Key Metric For Informed Business Dec

Gross Sales vs Net Sales: Understanding the Key Differences

February 29, 2024

Understanding Gross Sales Vs Net Sales Is Crucial For Meeting Sales Targets. Track Both To Ensure Increased Revenue And Grasp The Difference For Better Income

Drive your Sales Performance Management with confidence

Kennect equips you with the insights and tools needed to make informed decisions that propel your sales performance forward.

Product showcase video: Demonstrating automation features for streamlined incentives

90X

faster calculations of sales Incentives

200+

hours saved by admin teams every month

80%

reduction in incentive related queries

Transparent and Dynamic Reporting

Kennect's customizable reports and dashboards demystify commission calculations, fostering trust and eliminating manual tracking.

User-Friendly Dashboard

A central, intuitive dashboard on Kennect offers instant insights, motivating reps with a clear view of their performance and earnings

Personalized Pay Statements

Kennect automates personalized, detailed pay statements, enhancing payout transparency and accuracy for reps.

Immediate Access to Compensation Plans

With instant access to compensation plans, Kennect reduces disputes and boosts confidence in commission expectations.

Product showcase video: Demonstrating automation features for streamlined incentives

Real-Time Performance Analytics

Kennect provides live analytics for reps, driving motivation with immediate feedback on sales performance

Scenario-Based Earnings Forecasts

An interactive earnings calculator on Kennect allows reps to explore sales scenarios and their potential earnings impact, aligning efforts with business goals.

Competitive Leaderboards

Kennect's leaderboards foster healthy competition, motivating reps with clear performance benchmarks and recognition.

Customizable Performance Dashboards

Tailored dashboards on Kennect offer deeper performance insights, empowering reps with the data they need to excel.

Insights for Effective Team Management

Kennect equips managers with real-time performance analytics, aiding in strategy optimization and targeted coaching.

Product showcase video: Demonstrating automation features for streamlined incentives

Streamlined Commission Management

By centralizing commission management tasks, Kennect lets reps focus on selling, enhancing productivity and satisfaction.

Efficient Approval and Dispute Resolution

Automated, streamlined approvals and quick dispute resolutions on Kennect ensure timely, accurate payouts, maintaining sales focus.

Simplified Collaboration to Boost Productivity

Kennect simplifies commission-related collaborations, enabling reps to easily manage tasks and inquiries from a centralized dashboard.

Robust Approval Workflow

Kennect's automated, multi-level approval process emails ensure reps are paid accurately and on time, streamlining the payout process.

Product showcase video: Demonstrating automation features for streamlined incentives

What

thinks

Testimonial Swiper: Explore customer feedback and success stories in an interactive testimonial slider

Abhijit More

Head of Data Management, MIS & SFA

I am glad that we chose to do a pilot with Kennect and then went live for all 20 teams. After a year of using just the automation part, we now also seamlessly provide real-time incentive visibility to every sales rep

Testimonial Stars: Representing customer satisfaction with a five-star rating system for our product
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Unlock Actionable Insights

Kennect transforms the way you handle incentives, offering a seamless, automated solution that streamlines your process end-to-end.

Holistic Data Integration

Our platform becomes the single source of truth for all your sales performance related data. Use it for performance evaluation, employee appraisals and business strategy discussions.

Data-Driven Decision Making

Bridge the gap between having data and using it. Analyze performance metrics, identify trends, and adjust incentive structures to align with organizational goals.

Leverage ‘What-If’ analysis

Leverage ‘What-If’ analysis to ensure that Incentive plans remain responsive to dynamic business environments.

Optimize resource allocation

Optimize resource allocation, ensuring that incentives are distributed effectively without unnecessary overhead costs.

Product showcase video: Demonstrating automation features for streamlined incentives

Security and Compliance

Stay agile with Kennect’s intuitive platform. Quickly modify compensation plans to align with your evolving business needs, ensuring your strategies are always current and competitive.

Risk Mitigation and Compliance

Mitigate risks associated with non-compliance and potential legal issues using our ready to use reports in standard audit formats.

Enhanced Sales Security

Secure sales processes and maintain compliance with global and region-specific regulatory, financial, and security standards.

Financial integrity and transparency

Ensure sales and commission processes are compliant with ASC 606 and other policies

Product showcase video: Demonstrating automation features for streamlined incentives

With Kennect,
everyone wins!

Our platform brings a wave of transformative benefits to various teams within your company.

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Sales Reps

Enhance sales rep motivation and performance with instant insights.
Know More
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Sales Leadership

Provide sales leaders with tools and analytics for informed strategy.
Know More
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Finance & Compliance

Automate incentive calculations and provide audit-ready reports.
Know More
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Operations

Boost efficiency through simplified incentive management.
Know More

Learn More About what kennect can do

Robust Integrations

Operational Efficiency with Powerful Integrations

With our robust integrations, swift go-live capability, minimal IT dependency, and secure SSO access, we are setting a new standard for operational excellence.

Product showcase video: Demonstrating automation features for streamlined incentives

AI-Powered Nudges

AI-Powered Nudges for Increased Sales Performance

Transform your sales strategy with Kennect’s AI-Powered Nudges. Timely insights, personalized nudges, and seamless integration across platforms to empower your sales team to exceed their targets

Product showcase video: Demonstrating automation features for streamlined incentives

Query Management

Unified Query Lifecycle Management

Kennect ensures that your query lifecycle is managed seamlessly on a single platform, with complete audit trails for accountability. Move beyond the chaos of endless email chains to a structured, process-oriented system where every query finds its resolution swiftly and efficiently.

Product showcase video: Demonstrating automation features for streamlined incentives

ELT And Calculation Engine

High-Speed Processing and Calculations

Our ELT and Calculation Engine is designed to handle millions of calculations in minutes. With Kennect, complex plan creation becomes straightforward, adjustments to plan changes are seamless, and all without a single line of code.

Product showcase video: Demonstrating automation features for streamlined incentives

Explore latest trends.

Dive into our collection of resources and blogs. Stay up-to-date with industry insights.

Cash vs Non-cash Incentives: When to use them?

Blog —
March 27, 2024

How to Use OTE Compensation in Your Sales Team Competitively

Blog —
March 26, 2024

Sales Commission Rates: Industry Average Breakdown

Blog —
March 21, 2024

FAQs

What is Sales Performance Management?
+
Sales Performance Management (SPM) is a crucial aspect of business operations, especially for organizations that rely on sales revenue as a primary driver of growth. SPM refers to the strategies, processes, and tools used to measure, manage, and enhance the performance of a sales team.
What is the importance of Sales Performance Management?
+
Sales Planning
Sales Incentives
Sales Analysis
How to overcome the sales planning challenges with Sales Performance Management?
+
Sales planning challenges can be effectively addressed with the implementation of Sales Performance Management (SPM) strategies by-
Defining clear goals and objectives
Analyzing historical data
Aligning sales territories and quotas
Providing sales training and development
Fostering collaboration and communication

Get a Personalised Demo!

Understand how Kennect can help your organization

Gartner Insight
G2
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