Let's Talk About Sales Commissions

Calculating commissions driving you crazy? Let’s talk about how automating commissions increases profitable sales, commission accuracy, and produces happier salespeople!

By Tracy Larson

Now is the time to think about finishing the year with the most favorable tax situation. How can companies reduce what they’ll owe? The most obvious option is to spend on business equipment. The Section 179 deduction allows small and medium sized businesses to deduct the entire expense in a single tax season.

Business software is always a solid investment, as it gives back for years to come. This is especially true for sales management software, which turbocharges your company’s revenue-driving engine. Here’s how:

Create Automated, Repeatable Processes: Automation delivers efficiencies. Salespeople can spend much more time actively selling because sales software reduces data entry, centralizes product, labor, and service pricing, eliminates manual review and approval bottlenecks, generates proposals and contracts for e-signature, and provides accurate, real-time reporting.

Automation, by definition, creates consistency and repeatable processes. As a result, sales face less risk as they move into delivery due to higher accuracy in the sales process. Organizational gaps and distrust typically created by manual, decentralized processes, are no longer of concern. The results: easier growth, higher profitability, happier team, efficient delivery, and more satisfied customers.

Increase Your Close Ratio: One of the easiest ways to increase your close ratio is to get customers to sign on the spot, especially for high-volume, add-on, and smaller-ticket sales.

Quoting software lets you collaboratively design a system with the customer, build a quote, automate contract documents, and electronically sign. Your customer is ready to buy, and you’re ready to sell right then and there. Clients who use WeSuite in this way create a “paperless” process and have reported a 20% increase in close ratios!

Build Your Brand: You spend money on all sorts of marketing materials; your website, literature, signage, etc. They all help communicate who you are as a company and the unique value you offer. However, most businesses fail to realize that their proposal documents are one of their most used and visible marketing pieces. Sales management software provides tools and templates to auto-generate highly professional, detailed, customized, and branded proposal documents for every sale.

Sell More Profitably: Sales management software helps with this in so many ways. Here’s a list of the biggies:

  1. Reduces time.
  2. Pricing is always accurate and current, especially when integrated with accounting platforms.
  3. Nothing gets forgotten on estimates. The software prompts the inclusion of miscellaneous items, fully burdened labor, permits, service plans, tax, and whatever else is necessary for the project.
  4. No quotes go out the door unless they satisfy specified profit margins and predefined thresholds. All others require approval – also automated!
  5. Software helps salespeople increase profit margins by providing transparency as they work the numbers.
  6. Salespeople sell more profitably when commissions are auto calculated within the estimate. They see, in real-time, how much they’ll make as they design systems and build quotes.

Measure KPIs: Key Performance Indicators (KPIs) are the statistics you need to understand if your company is on track. The centralized sales management platform is packed with data to track and evaluate KPIs, empowering management to make data-driven strategic business decisions. Furthermore, the software does the analysis. Dashboards provide real-time and cumulative reporting that identifies trends and highlights areas of growth, improvement, and profitability.

Tick Tick Tick:  Hear that sound? Now is the time to start planning ways to reduce your year-end tax burden. Investing in sales management software is the place to start. This sensible investment will reduce your check to Uncle Sam while making the sales process far less “taxing” for everyone in your organization!

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Now is the time to think about finishing the year with the most favorable tax situation. How can companies reduce what they’ll owe? The most obvious option is to spend on business equipment. The Section 179 deduction allows small and medium sized businesses to deduct the entire expense in a single tax season. Read more…

Let’s Talk About Sales Commissions

Calculating commissions driving you crazy? Let’s talk about how automating commissions increases profitable sales, commission accuracy, and produces happier salespeople!

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