Pre-sales data drives sales. Post-sales data – who bought what, for how much – drives profits. Linked together, companies get more of both. These days, companies of all sizes have revolutionized their pre-sale information with CRM applications. Sales representatives use them to manage the sales pipeline as efficiently as possible. But what about post-sales data?
For many, post-sales information is scattered across a variety of systems—including ERP, HR and payroll. Often, it’s bound up in spreadsheets. Some companies are retiring those cumbersome spreadsheets and centralizing post-sales data into a single sales compensation management system. This radically changes the landscape for post-sales data, just as CRM optimized the sales pipeline.
The game-changing starts with clean data on what has been sold, to whom, at what margins, through which channels, in which regions and at what price. With this information, companies can:
- Better design compensation programs
- Keep compensation programs relevant
- Accurately forecast commission exposures
- Stay responsive to opportunities
And that's just the start. When post-sales data is easy to access and easy to use, sales reps can see in real-time how they will be compensated for selling the things the company wants them to sell, such as higher-margin products. They can even run "what-if" scenarios to determine how to structure a sale for maximum payout of commissions, bonuses, and special incentives.
Combining that information with pre-sale information, reps can focus on profitable sales. With a truly strategic compensation plan in place, what is most profitable for the company is also most profitable for each rep. Post-sales data makes those profits happen.