Why You Need Commission Tracking Software
If you pay sales associates multi-tiered commissions, then a software that tracks commissions is a great idea. While this could be accomplished in MS Excel, but because a serious mess very quickly. Lets talk about six of the major reasons to get a commission tracking software.
1. Tracking software may help eliminate over payments as well as other errors.
There is nothing worse than having a sales rep call you and dispute the amount you paid them. If you are using Excel, the mistake could have been made either on the calculation or the entry. The fact is, data entry has at least a 5% margin of error. By using CommTrack, you will cut the margin of error significantly.
2. It will help you keep Reps
It is more important to commission sales people than salaried employees to make sure their paycheck is calculated correctly. If their check is wrong time and again, then do you expect them to stay? With a good commission tracking software, you will not need to worry about accuracy in paychecks. Making certain that your sales staff are being paid properly is probably the best way to keep them around.
3. The productivity of your sales staff improves.
While commission software in itself does not make an Associate more productive, the lack of it makes them less productive. When they can see projected sales and feel that the reports are accurate they can spend the majority of their time on the phone with customers, not with you discussing issues. If you havent already figured it out, it is time to buy your commission tracking software.
4. There will be savings on administrative costs.
Think of the number of hours required to process commission checks. On the other hand, if you only have a couple of salesmen, then it can be pretty easy. But when your business grows to 10, 20 or more sales reps, with each closing several transactions, things get complicated quickly. If you are still using Microsoft Excel, you are burning way more hours than you need to. A commission tracking software will make it so much easier. When you save time, you save money. That is the greatest benefit to a good tracking software.
5. The best way to get nightmares is process commissions in Microsoft Excel
Lot of companies track commissions using the spreadsheet. But this is a problem waiting to happen. Unique industry requirements are only going to be handled properly by a program designed to address them. Even if you handwritten program is working today, it doesnt mean it will work the next time you use it.
6. Its only natural for there to be industry specific commission plans.
For one example, the printing industry needs to have exact costs for each transaction, but retail plans are store and product sales based. The lack of standards for a commission structure creates an issue that creates unique commission software that function totally different than their competition. The result of this is a need for a program that can cover a very broad base. CommTrack has this ability built in.
The most customizable software on the market is CommTrack. You can set up any commission structure you like. It is totally customizable. With all the reasons out there, you know what they are, you need to seriously consider getting a software program to cut cost and time.
I wanted to free up the time of the people that tracked commissions, so I developed the commission software that does just that. It takes the hard work out of the equation. Now you have the confidence everyone is being paid correctly.