"Ask Anshul": Drive Sales Performance with a Stronger Quota Management Plan

Picture of Anshul Gupta
Vice President, Industry Solutions
Varicent is harnessing the Cloud to create more accurate and fairer quota planning. This enables your sales executives, managers and supporting team to strategize, manage and share quota assignments more efficiently – all of which are designed to meet and beat revenue targets and increase sales.
 
By using Varicent on Cloud, you have the opportunity to model and test the financial impact of proposed quotes prior to rollout for cost management and budgeting. This cloud-based tool can report on quota attainment and pay distribution which gives you the information needed to bolster your incentive plan and agree more focused objectives for each of your sales team.
 
Compensation administrators can then better forecast fair commission and bonuses by incorporating quota attainment levels.
 
Sales operations staff and managers can access reports that allow them to assess which sales reps, team or territory is most likely to achieve quota targets while proactively launching selling activities to boost sales revenue in advance of the period close date.
 
In addition, the sales reps themselves can easily view and digest up-to-the-minute dashboards and reports that display quota targets and attainment then compare these values against actual sales revenues. Live and accurate data helps the team to be motivated and aligned in their approach to closing a deal and achieving the compensation they deserve.
 
Pull quote: “By harnessing the power of Varicent on Cloud, you get a more reliable quota management solution that is fair to your sales team and simple to monitor”
 
Features and benefits
 
Intuitive interface, quick configuration
 
This easy-to-use tool is ideal for sales operations staff and compensation administrators. Every feature on the interface (i.e. wizards, drag and drop, visual elements) can be easily set up, configured and utilised. That means less time and expense on IT specialists and more focus on a pain-free quota management process.
 
Get your team involved in the quota planning action
 
The most watertight way of ensuring quota values are evenly distributed across your business is by involving the team in the end-to-end process of planning, setting, review and approval. Giving the right people access to the tool brings the necessary human perspective while ensuring all quotas are achievable.
 
Set the sign-off, editing privileges and alerts
 
An important stage in quota planning is workflow routing, sign-off, approval privileges and editing rights. You can limit or extend each person’s access and privilege limits, such as view and/or edit by setting configurable attributes.
 
In addition, you can set an alert that can be picked up by a manager of HR if any values or attributes change and control who is subject to this scrutiny, depending on where they sit in the company’s hierarchy.
 
Avoid unlawful system access
 
Configured and protected security privileges ensure only approved personnel can access data and parts of your system, so entry is always effectively guarded .
 
Mark effective dates
 
All configuration settings are time stamped with effective dates so you can make quick changes while keeping track of all previous quote distribution markers.
 
Set your milestones
 
The quota planning process and cycle is often marked with milestone dates indicating critical, time-dependent actions. Set dates in advance and this will be automatically flagged and rarely overlooked.
 
Keep data integration simple
 
Varicent dislikes complication and conflicting software as much as you do. That’s why our incentivized Compensation Management, Territory Management and Quota Manager software all run on one platform and integrate with one another.
 
Meet compliance standards
 
Once set up, keeping up with compliance and regulatory requirements becomes child’s play, as does reviewing system changes and activity fluctuations.
 
Trust in Varicent’s Cloud solution
 
It’s simple. Reduce costs, stop leaking resources and improve your quota management output by harnessing Varicent on Cloud’s trusted, secure and far-reaching capabilities.
 
Business benefits checklist
 
  • Improved planning, management and distribution of quotas
  • Simple to make changes to current quotas
  • Easy to track historical quotas
  • Encourages transparency and collaboration across your company
Highlights
 
  • Cloud-based or premises-based set-up
  • Easy to manage, easy to read quota management
  • Simple to sort workflow at all stages of the process
  • Robust reporting and analytics on your quota achievements and queries
About Varicent™
 
Varicent helps clients accurately track, manage, and report on sales processes through the industry-leading Sales Performance Management (SPM) solution. Established in 2005, Varicent innovated the SPM software industry by developing business tools for Incentive Compensation, Territory, Quota, and Channel Management. With Varicent’s augmented intelligence-powered platform, customers realize bottom-line efficiencies and top-line results through sales dashboards and models for better decision making at all levels of the business.
 
For more information
 
To learn more about Varicent Industry Platform solutions, contact your Varicent sales representative or visit: www.varicent.com

Tags: Territory and Quota Planning

Picture of Anshul Gupta
Vice President, Industry Solutions

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