High Tech
High technology businesses require a flexible SPM solution that can keep pace with constant innovations and industry changes. Without comprehensive solutions that can manage all aspects of sales performance for an increasingly mobile, agile sales force, high tech organizations risk late or missed commission payments, misunderstood plans, lack of insight into organizational performance, and a loss of their competitive edge.
Challenges
When high tech businesses lack an integrated solution to manage incentive compensation and location and store operations, they are unable to:
- design and manage incentive compensation components, including monthly, quarterly, and annual commissions, bonuses, contests, rewards, and SPIFs, and quickly modify plans to align with evolving business requirements
- collect, combine, and verify product sales and performance data from multiple sources without risking data integrity, accuracy, or security
- present individual performance metrics to salespeople in a meaningful way to improve sales results, and provide managers and executives with high-level, strategic insight
- efficiently manage business processes that involve submitting, routing, reviewing, approving, and communicating information across sales channels and within the organization
- effectively manage individual and group sales quotas and forecast projected profitability
- size and structure distribution channels to maintain strategic alignment
Solutions
Synygy’s solution for the high tech industry enables companies to:
- support a variety of compensation plans for sales representatives, external agents, managers, and other participants, and easily adapt plans to reflect corporate strategy and shifts in market conditions
- integrate, validate, and manage product sales and performance data from a single, secure, auditable web portal
- communicate individual, group, product, and overall business performance, including product profitability, top and bottom performers for contests and SPIFs, quota attainments, and other results through clear, actionable reports, analytics, dashboards, analyses, and trigger-based alerts
- automate the management of payroll, disputes and inquiries, hierarchies, alignments, sales coaching, on-boarding, and more to ensure consistency and accuracy
- set, adjust, approve, and communicate product and sales force budgets, and quotas and objectives that reflect the sales strategy
- define and optimize equitable territories and manage distribution channels that meet or exceed sales forecasts
Synygy’s software and services solution for the high tech industry includes:
- Commission and Bonus Management
- Rewards and SPIF Management
- Data Repository and Data Process Management
- Dispute and Inquiry Management
- Sales Crediting Management
- Compensation Plan Modeling, Design, and Deployment
- On-boarding Management
- Reporting and Analytics Needs Assessment and Design
- Budgets and Quotas Management
- Channel Management
- and more
