In times of economic uncertainty sales departments are looked at to step up and defend the organizations profitability, getting accurate up to date details on revenue and the ability to build revenue attainment plans more effectively are key performance management best practices that leading organizations are partaking in. Having a more “connected” approach to performance management allows organizations to that takes less time collecting information to analyze and builds a more repeatable process for planning (rather than typical once per year planning efforts). Effectively compensating sales on performance is another key aspect of the planning cycle, and how sales organizations can effectively model incentive compensation should fit into their overall approach for performance management. The following article provides a few best practices leading organizations are using, how does your sales department match up?

  • Formal and documented sales processes
  • A centralized repository of data (customer, account, prospect and sales)
  • Defined performance metrics to measure effectiveness
  • Executive-level support for sales productivity tools
  • Clearly measurable performance goals.

Read an article on this topic from Business Finance Magazine