NLP is a field of AI that enables computers to analyze and understand human language. It was formulated to build software that generates and comprehends natural languages so that a user can…
I have been around the commission’s industry for some time now and I have only really seen two real, substantive changes, which is telling. Those two changes were the move from on-premise to cloud computing and the other was dashboard visualization. There is a desire for change and growth, but what does that look like?
I’ve been working with commissions for well over 20 years now and have heard the following forever: Excel is prone to error and is not a reliable commission system. Further, Excel has a 6% error rate. We can help you reduce that error rate by implementing NEWCOMP system.
RPA, or robotic process automation, is an emerging technology practice designed to streamline business operations and reduce company costs. It can help automate simple processes, giving staff the ability to serve customers on more complicated tasks or complete higher-value work…
I recently read a book on corporate strategy. Inside was chapter on intergrating your strategy into your compensation plan and measure the affects. I had the opportunity to have several conversations with the author in which he shared…
I have wondered for a while what Sales Performance Management (SPM) means. From a systems perspective, that journey took shape as commissions tools, things that did calculations back in the 90s. This morphed into what we have today. But I want to look at the timeline – what we have today and why it became that way.
Nothing is harder than truly splitting commission on a deal. In the past I’ve seen this being done one of two ways: one is that the reps split what would be 100% commission on a deal, or the second is that the company overpays on the deal itself by paying over 100%.
One of these causes conflict without specific rules, the other causes irritation on the part of the manager, finance and commission team.
Sales incentives are incredibly important for a variety of industries and of course, particular roles within said industries. However, how do you determine these roles? and where’s the line when it comes to the benefits of sales compensation for different roles not just for the employee but also the employer. So why do we even talk about incentive compensation then? Why not have these people go for a bonus or just a salary?
While there are thousands of processes that could be automated using Robotic Process Automation, it’s hard to know which are the best. Of course, the best automation processes for one industry will be completely different for another. However, regardless of your industry or company size, there are some simple questions you can begin to ask yourself to determine which processes might benefit from automation the most.
Given there are success stories that are amazing in RPA like the one Chet Chambers from UiPath discusses, where he automated over 500 processes before he left HP, it’s no secret that RPA should be in every company’s future. So let’s talk about how to achieve that success and more specifically how you can take the proper steps to achieve the efficiency that RPA provides.
I’ve been working with commissions for well over 20 years now and have heard the following forever: Excel is prone to error and is not a reliable commission system. Further, Excel has 6% (from some study from someone) error rate. We can help you reduce that error rate by implementing NEWCOMP system.
We have seen commission systems for well over 20 years now, all with the promise of automation and miracles. In many cases, this requires some substantial effort, whether configuring the commission system or developing integrations that require high skill set levels, substantial time to test and are prone to bug fix issues for years to come.