NetSuite Incentive Management - Easy to use Solution for Incentive Management

NetSuite incentive Management

NetSuite Incentive Management enables use of commission schedules to calculate, automatically, commissions on sale orders or invoices.

The comprehensive commission plan comprises multiple commission schedules defined by rules and effective dates. This aids the much needed flexibility for structuring and deployment of commission plans.

Organizations can design, track and execute sales commission plans. The easy-to-use solution helps in evolving and maintaining complex multi-tiered commission plans and criteria based sales compensation. Sales teams thus get a clear view into their incentives which helps them align with business goals.

The commission rules can be based on multiple criteria. The commission period, ranging from monthly to year to date is categorized by achieved sales - product or service - subsidiary, business, department or location. Another criterion is by total sales or the quantity sold. The third is on profitability based on each order. The advantage of the incentive management system is its ability to calculate commissions based on custom criteria.

With NetSuite Incentive Management, commissions can be calculated on a linear or a marginal scale, a target factor or even no scale. While the linear scale payment is based on total value of the order, marginal scale assigns portions of the order value to every step of the scale. With target factor a single schedule can be set using a linear scale to allot a percentage.

Indirect commissions due to managers and executives can be calculated from sales at the field level. All this will require is a schedule to be set up and the respective incentives will be reflected in the organizational hierarchy.

NetSuite Incentive Management enables businesses to split commissions between multiple parties on the same sales transaction. If the corresponding contribution percentages are specified for each sales individual who was part of the transaction, the commission schedules determine the appropriate payout.

In addition to all the above features, NetSuite provides complete reporting and analytics from sales to sales ops and finance. Salespeople can forecast their earnings and integrate commission reports into their sales dashboard and sales force automation activities. The system further ensures sales, sales operations and finance monitor sales trends, performance achievement, distribution attainment as well as summary and detailed compensation based on roles and real-time dashboards.

Speak to our experts to learn more about NetSuite’s Incentive Management.

Friday, December 21, 2018

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