Turbocharge Your Sales Performance Management System

Reduce the time and cost required to administer your incentive compensation program.

Implementing compensation management solutions

Sales Performance Management (SPM) systems helps sales organizations align their efforts from strategy through execution, all while striving to improve the efficiency, accuracy, and timeliness of what can often be a highly complex series of administrative processes. IBM found, for example, that organizations that implement compensation management solutions can expect to reduce errors by more than 90%, reduce processing times by more than 40% and reduce IT and Admin staffing by more than 50%.

Organizations that implement compensation management solutions can expect to reduce errors by more than 90%, reduce processing times by more than 40% and reduce IT and Admin staffing by more than 50%

IBM

Transforming your business processes

At SmarTek21, we can help you get more out of your SPM. We have a deep understanding of business processes and technology, which has helped us minimize operational issues and increase operational efficiencies for countless clients. We are also experienced in roll out’s, maintaining SLAs for performance, enhancing operational excellence and adding intelligence to tools. What’s more, we leverage a combination of IP, years of experience and custom project management tools to deliver consistent results.

Integrate with necessary systems and data sources

Sales compensation calculations require data from a variety of sources. At SmarTek21, we’ll help you compile territory information, leads and pipeline data from salesforce.com and actual transactions data from ERP systems—including SAP, Oracle and people data from HR systems like Workday. Then, we’ll help you pull data from these disparate systems into an SPM system regularly; before commission calculations run.

Configure and implement business rules

Our solution speeds up the implementation of new incentive programs. This means your team can move faster, respond to changing market needs and drive better incentives for your sales team. SmarTek21 has also established a solid knowledge transfer process, which can help you transfer operational knowledge from your commissions application developers and business users to your operations team.

Create comprehensive reporting for all teams and users

The SmarTek21 solution enables flexible reporting. This allows your team to track results, make informed decisions and allow for some creative freedom when generating reports and metrics. Our solution will also help you become self-sufficient. We’ve developed a robust self-service knowledge management system with 24×7 support and an intuitive AI-based help desk.

SmarTek21 has helped organizations make their sales compensation process more effective. Our clients have seen major improvements in sales outcomes, and recognize that a streamlined and automated sales compensation process contributes significantly to sales performance success and better ROI.

Improving efficiency, accuracy and timeliness of the associated administrative processes

Partnering with SmarTek21 is a great way to achieve increased efficiency and productivity. SmarTek21 understands enterprise sales compensation and provides the tools and expertise to streamline the process.

Benefits include bottom-line improvements, such as increased operational efficiency and improved accuracy, and top-line returns, such as better profitability, increased overall sales, and greater retention of talent

Companies may save as much as 50% of shadow accounting time by using a dedicated sales compensation system.

GARTNER

Increased Operational Efficiency

ST21 team, brings industry-leading technology and expertise that will automate and streamline every part of your sales compensation process:

Gather and merge data
Execute the sales compensation process quickly and accurately
Build Sales commission reporting analysis
Execute the entire sales compensation process

A well-designed sales compensation process saves the company many hours every pay cycle – freeing up sales operations staff, sales managers, and IT staff to focus on the core business of the company

Improved Process Accuracy

Smartek21 offers:

A dedicated sales compensation team and products that ensures clean and validated data each pay cycle
Automation of sales compensation plan execution, with complete audit trails and reporting
Accuracy in payroll calculation and disbursement and eliminating overpayments, which leads to a rapid, measurable return on sales comp investment.

Reduced Shadow Accounting

ST21 helps companies reduce and ultimately eliminate shadow accounting from their company by bringing to bear its expertise and technology capabilities. For enterprise sales organizations, recapturing even a small percentage of the time salespeople spend validating their pay checks, and turning that into selling time, provides a powerful return on investment.

Using a dedicated technology solution to execute sales compensation ensures timely and accurate disbursement of payroll. It also offers the ability to immediately see and download a compensation statement and further drill into line-item details. When salespeople are able to instantly and easily review their compensation breakdown, they gain greater confidence in the process

Increased Sales Effectiveness

ST21, provides the expertise and a range of technology capabilities that allow sales operations to:

Explain how to use the plan in order to maximize earnings
Clarify the organization’s objectives and its current sales strategy
Quickly deliver information about change in policy or strategy

These capabilities include “what if” calculators, a structured communications framework, sales training programs tailored to your business strategy, and more.

The right technology and expertise facilitate communication regarding the compensation plan. Thus, rolling out changes to the sales strategy, resetting quotas, and redistributing territory all become easier to manage.

Less Turnover

Companies that partner with ST21 are often able to quickly reduce sales turnover and measurably improve employee satisfaction among salespeople. Increased visibility into earnings details and timely, fair, and accurate payments establish a sense of satisfaction and confidence among the sales team.

Should disputes arise, they’re easy to enter, manage, and resolve, leading to a more open and more productive relationship between the sales force and the company. Implementing a Sales Performance Management solution ultimately leads to better management and utilization of sales resources.

Companies using dedicated sales compensation systems and following sales compensation best practices saw an increase of 2.2% y-o-y in profits as compared to those with manual processes.

ABERDEEN GROUP

Vendor Partnerships

The goal of SmarTek21 ICM is to dramatically enhance the performance and flexibility of your preexisting SPM solution, not to replace all or part of it. We currently offer out of the box support for the three leading vendors — Varicent (formerly IBM), Callidus (now SAP Sales Cloud), and Xactly — and can easily add support for other SPN vendors as needed.

Feature spotlights

Reporting, Dashboards, and Analytics

Create standard, pre-built reports to compensation administrators, sales management and sales reps to view and analyze the health of the compensation plans and sales performance.

Pay sales reps quicker

Gain efficiencies and accuracies to better manage and process timely incentive compensation for sales team. By paying sales reps faster, you will have a happier and more motivated sales force.

Composer and Calculation Engine

We handle the various registrations of the chatbot via channel deployment. We monitor the deployment and usage for any unanticipated behaviors. We provide 24×7 escalation services for the enterprise as part of our service..

Improve visibility

Provide instant transparency and visibility of sales performance and incentive compensation to sales team. As a result, sales reps will spend less time questioning their compensation and more time selling.

Workflow Routing and Scheduling

Create workflow routing processes to facilitate the incentive compensation agreement, compensation payout, inquiry/disputes, quota setting, territory assignment and other business processes.

Align to corporate objectives

Build new plans or make changes to existing plans more easily, allowing you to align sales behavior and motivation with corporate objectives.

Integration with IntelliTek.ai

With the click of a button, open your compensation dataset in IntelliTek.ai so that you can easily discover how your compensation plans are performing using natural language, whether typed or spoken.

Collaborate more effectively

Reporting and analytics capabilities makes it easier to share sales performance metrics across the organization (e.g. Sales, Marketing, HR and Finance).