Why You Should Track Your Employee's Commissions

Commissions are your sales team's bread and butter. It's the most significant incentive they have to perform well, and most will work hard to beef up their commission check as much as possible.

While you might focus most of your insight on total sales data, tracking employee commissions can provide many benefits. Here are just a few reasons why you should use a commission tracker.

Gain Better Insight Into Sales Productivity

What better way to monitor overall productivity? Basic sales data only shows you so much. Commission data expands the picture and helps you create detailed reports with tons of insight.

For example, you can create easy-to-read visuals for any part of your compensation data. Look at specific regions, identify trends for individual teams, and more. Commission-tracking lets you create reports with filtered information. Segment your sales and fine-tune your view to learn about productivity as much as possible.

Informed Decision-Making

Of course, you can put all that data you collect with commission tracking to good use. Your sales market is constantly evolving, and maintaining success requires regular adjustments to your sales tactics. Use a commission tracker to make crucial decisions that impact your bottom line.

Identify trends and tap into emerging markets before the competition realizes it exists. Or, readjust your resources to prepare for swells and dips. All of that is possible with commission data.

Empower and Motivate Sales Reps

One of the best ways to use commission data is to empower your employees. Many sales reps will attempt to keep track of their earnings throughout the period. Others will leave it up to fate.

With tracking, you can provide accurate information in real-time. Provide in-the-moment commission information and provide regular updates. Knowing where they are at any given moment empowers your team to keep pushing no matter what.

Tapping Into the Power of Data

Commission tracking software is a must for any sales-focused business. The data you collect is multi-faceted. Use it to make decisions, motivate your team, and monitor overall success from one easy-to-use platform.

Read a similar article about commission tracking here at this page.

Why Manual Commission Tracking is a Thing of the Past

Your sales team is the profit drivers of a given industry. Their hard work makes your business possible on a day-to-day basis. Paying them fair and accurate commissions is part of doing business. However, manual commission tracking doesn't always serve your team well. Learn why manual commission tracking is a thing of the past as the 21st century carries on.

1. Time-Consuming Labor

Manual tracking takes time. Administrative employees must create spreadsheets, input formulas and keep up with the data input each day, week or quarter. With the hardware and software available to perform this work, manual inputting should be a thing of the past. It's the responsibility of the employer to update the company with the proper software that ultimately takes this task out of daily rotation among admin professionals.

2. Fraught With Errors

Regardless of how accurate your employees are, manual tracking is full of errors. There can be a mixture of both human and spreadsheet-formula errors, for instance. These errors add up to inaccurate commissions that either shortchange the salesperson or company.

These errors have culminated into real lawsuits against companies. Turning to a commission tracker is the smartest way to improve accuracy and avoid possible lawsuits.

3. Commission-Based Software on the Rise

There are plenty of software bundles geared toward the corporate world that have commissions built into them. Be wary of these all-in-one packages, however. Look for commission-based software that's a standalone product. This software is often specialized as commission trackers, which means that the effort was put into the coding for commissions alone. The product doesn't have to perform other functions that might minimize the accuracy of the commission tracker itself. With so much software available today, you can narrow down the perfect tracker for your company's unique needs.

4. More Affordable Than Before

Companies often procrastinate when it comes to purchasing new software. It's an investment that can cost thousands of dollars. Today's products, however, have varying price tags. Simply compare products before buying one. You can find an affordable product that greatly improves your calculations. The money invested into the tracker will ultimately pay for itself and improve profits over time as your sales team remains paid with precise numbers.

Make use of a software demonstration to see what a commission tracker can do for your business. You'll ultimately have happier workers and accurate sales numbers. Higher profits can be in your future as a result.

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