View dashboards and reports to track costs and review the effectiveness of incentive compensation programs.
As a Finance leader, you need a strong relationship with Sales. You, along with Sales leaders, need to ensure that the revenue plan and the quota plan remain in sync. If one plan changes, there will be an impact to the other.
Changes in the sales structure, such as a Sales Rep leaving the organization, accepting a promotion, or simply moves to a different location. All of these types of changes trigger a territory coverage gap and unassigned quota. In turn, the revenue plan and the quota plan result in a change.
Depending on how long it takes to recruit, hire, and on-board a new salesperson can have a significant impact to the revenue and quota plan. The faster you can reassign the sales territory and allocate the unassigned quota target, the less the impact of aligning the revenue plan and quota plan.
Finance leaders are also concerned about the expenses. For example, the expense of paying sales incentive compensation to the Sales Team. Finance leaders want this expense item to be as low as possible, whereas the Sales leaders always want to increase this expense to lower turnover.
With Varicent, the Finance Leader can:
- View dashboards and reports that track the cost of incentive compensation versus the budget amount to ensure that the organization does not go over budget.
- View territory coverage and quota distribution reports alongside of the revenue plan to ensure alignment between Finance and Sales leadership.
- Access incentive compensation effectiveness reports and analyze whether the incentive compensation plans are working as intended and if there are any outliers indicating if any of the salespeople are ‘gaming the plan.'