90X
faster calculations of sales Incentives
200+
hours saved by admin teams every month
80%
reduction in incentive related queries
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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.
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!
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
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.
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 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.
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.
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.
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
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Kennect equips you with the insights and tools needed to make informed decisions that propel your sales performance forward.
faster calculations of sales Incentives
hours saved by admin teams every month
reduction in incentive related queries
Kennect's customizable reports and dashboards demystify commission calculations, fostering trust and eliminating manual tracking.
A central, intuitive dashboard on Kennect offers instant insights, motivating reps with a clear view of their performance and earnings
Kennect automates personalized, detailed pay statements, enhancing payout transparency and accuracy for reps.
With instant access to compensation plans, Kennect reduces disputes and boosts confidence in commission expectations.
Kennect provides live analytics for reps, driving motivation with immediate feedback on sales performance
An interactive earnings calculator on Kennect allows reps to explore sales scenarios and their potential earnings impact, aligning efforts with business goals.
Kennect's leaderboards foster healthy competition, motivating reps with clear performance benchmarks and recognition.
Tailored dashboards on Kennect offer deeper performance insights, empowering reps with the data they need to excel.
Kennect equips managers with real-time performance analytics, aiding in strategy optimization and targeted coaching.
By centralizing commission management tasks, Kennect lets reps focus on selling, enhancing productivity and satisfaction.
Automated, streamlined approvals and quick dispute resolutions on Kennect ensure timely, accurate payouts, maintaining sales focus.
Kennect simplifies commission-related collaborations, enabling reps to easily manage tasks and inquiries from a centralized dashboard.
Kennect's automated, multi-level approval process emails ensure reps are paid accurately and on time, streamlining the payout process.
Kennect transforms the way you handle incentives, offering a seamless, automated solution that streamlines your process end-to-end.
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.
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 to ensure that Incentive plans remain responsive to dynamic business environments.
Optimize resource allocation, ensuring that incentives are distributed effectively without unnecessary overhead costs.
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.
Mitigate risks associated with non-compliance and potential legal issues using our ready to use reports in standard audit formats.
Secure sales processes and maintain compliance with global and region-specific regulatory, financial, and security standards.
Ensure sales and commission processes are compliant with ASC 606 and other policies
Our platform brings a wave of transformative benefits to various teams within your company.
With our robust integrations, swift go-live capability, minimal IT dependency, and secure SSO access, we are setting a new standard for operational excellence.
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
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.
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.
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