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80 Percent Of Executives Rate Current Incentive Compensation Management Approach As Difficult
Varicent and BPM Partners' Sales Performance Management Survey Still Open for Your Participation; Complete the Survey and Receive a Customized Score to Benchmark your Organization's Sales Performance Management Effectiveness
(Toronto and Stamford, Conn.) – Varicent Software, the only provider of complete solutions for sales performance management (SPM) and BPM Partners, the leading independent authority on business performance management, today unveiled a sneak peek at results from the recently launched 2007 Sales Performance Management (SPM) survey. Early results show that more than 80 percent of executives responding indicated that their current incentive compensation management solutions range between somewhat difficult and extremely difficult to use.
To date, many companies still rely on cumbersome spreadsheets or stand alone home-grown compensation management systems, creating errors, inefficiencies and a lack of visibility into sales performance and operations.
The survey queries finance, human resources, sales and IT executives on incentive compensation management, territory alignment, quota planning and sales performance analytics. To participate in the survey, go to: www.varicent.com/survey
"The 2007 BPM Pulse Survey showed that sales performance is a high priority for business performance management projects," said Craig Schiff, president and CEO, BPM Partners. "This new survey on sales performance management delves into the pain points many companies have in trying to manage variable pay programs intended to achieve better overall corporate performance by identifying issues and motivating individuals."
In addition to the astounding amount of participants considering their SPM approach as difficult, the survey finds more than half of the executives rate their current compensation plans as somewhat effective or ineffective.
This survey asks respondents 15 questions on their adoption of SPM and their ability to link corporate goals to individual performance in order to create a pay-for-performance culture. It also asks brief questions on specific components of SPM, including territory management, quota planning and incentive compensation calculation.
Respondents to the survey receive a customized score rating SPM initiatives as compared to leading best practices for sales performance management.
About BPM Partners
BPM Partners is the leading independent authority on business performance management (BPM) solutions and a founding member of the BPM Standards Group. BPM Partners' vendor-neutral consultants guide companies through their BPM initiatives from start to finish, helping companies attain the maximum value from their business performance management initiatives. This is done through hands-on services that provide insight on how to collect and analyze the right information to address specific business goals. BPM Partners leads clients through requirements definition, vendor selection, and deployment of departmental or enterprise-wide BPM systems. In 2006 BPM Partners was named a 'Small Jewel' in Consulting Magazine's annual selection of the most innovative consulting companies.
By analyzing and then matching the client's requirements with the appropriate vendor, BPM Partners helps companies narrow the selection of vendors from a lengthy industry list that includes Applix (Nasdaq: APLX), Business Objects/Cartesis (Nasdaq: BOBJ), Clarity Systems, Cognos (Nasdaq: COGN), Infor, Longview Solutions, Microsoft (Nasdaq: MSFT), Oracle/Hyperion (Nasdaq: ORCL), OutlookSoft/SAP (NYSE: SAP), SAS and others. For more information on BPM Partners, please visit http://www.bpmpartners.com.
