How do you measure the success of a sales performance management (SPM) implementation? The conventional way is to compare the plan against the actual timelines and budget of your initial SPM implementation plan. In that scenario, if the project was completed on time and within budget, it is a success.
The problem with this approach is that it really measures the efficiency of the implementation process, not the actual implementation itself.
Another conventional way to measure success is to perform a standard return-on-investment (ROI) calculation. This is one way to assess an SPM implementation, but it also falls short; SPM solutions deliver much more than financial savings. Companies rarely implement an SPM solution with the primary goal of cost savings in regard to compensation administration.
So how do you properly calculate the success of your SPM implementation? Here are 10 ways:
- Commission Administration Productivity
- Agility in Handling Plan Changes
- SLA for Reports and Payments
- Draw Period
- Commission Disputes
- Reconciliation and Trust
- Manual Adjustments
- Process Improvements
- IT Support
We go into these 10 factors in more detail in the Spectrum white paper, 10 Ways to Measure the Success of an SPM Implementation. Download your copy today.