Honestly, in my many years of selling, I’ve felt like this is the way many organizations magically assign quotas for the year, quarter, or even month. There doesn’t seem to be much science in the process (if any at all), but more so a finger waving in the air trying to hit some other finger wave number on what we should be selling. It has left me feeling that there must be a better way to do this as it is no way this is sustainable for a business, nor is it creating trust with your sales force.
In a recent survey, completed by Cascade Insights and commissioned by Varicent, it was found that there is no right way to assign quotas. Each organization takes a different approach to setting quotas and formulating their go-to-market strategy. So, how do you account for this when looking at creating a solution to support the wide array of planning approaches out there? Well, it is actually quite simple – you make it flexible and configurable to take these siloed, manual processes and let technology do the work.
Automate Planning Mechanics with a Purpose-built Territory and Quota Solution
Varicent has done just that with our new Territory and Quota Planning (TQP) solution. We developed a solution that allows each company to mold their manual process (usually Excel powered), into a fully digitalized, data-driven, collaborative process.
Allowing our users to define territories aligned with their go-to-market strategy and enabling quotas to be set using multiple data measures, gives the organizations we partner with the ability to change their ways from David Copperfield magic, to Albert Einstein science. There is true ability to slice and dice your business for how you go-to-market. Then, drive data down to that level to bring in prior year(s) data, competitive and market data, plus many other factors, to allow the organization to focus on actually driving a realistic and data-based quota for its individuals.
A very famous movie quote from the Wizard of Oz goes, “Pay no attention to the man behind the curtain.” With Varicent TQP, we encourage you to look behind the curtain and to find out how your quota has been derived and how you’re expected to hit your various targets.