Oracle Sales Cloud has an amazing Incentive Compensation calculation engine. It can be used to calculate anything from the obvious variable income to scores, rankings and performance scorecards. These can be used to compensate individuals for achieved results, for gamification purposes or just to get deep understanding of how sales organizations are behaving.
From a sales organizations perspective, these are important tools to correctly and accurately reward achieved goals and drive the behavior of an organization into a certain direction by rewarding compliance to a newly implemented strategy.
But who cares about corporate strategies?
From the perspective of a compensated individual, whether it is a salesrep, a sales manager or an executive, compensation is about something completely different. It is about how much money they will earn at the end of the month, the end of the quarter or the end of the year. It is about where they can go on a holiday and how much fun they can have there.
The interesting aspect of compensation though, is that is it calculated after a deal is closed. Any compensated individual typically only understands truly what he will earn once his job is done and he has moved on to the next opportunity to close. But it is annoying to only book last minute holidays, when you have to wait till you receive your pay slip before you can decide where to go.
Why would a salesrep have to wait to see what he could make at the end of the year until he has closed his deals? Why would you not want him to get any insight in that upfront?
Understanding rules and expectations
Before one can hope to achieve set goals, these need to be clearly documented.
Oracle Sales Cloud allows compensated individuals at all times to review their compensation plans. These contain exactly what is expected from them, and how rewards can be earned.
Once a compensation plan has been accepted, and approved, a compensated individual should have complete insight how much was earned on each of the transactions he closed. But is that enough?
Oracle Sales Cloud Incentive Compensation cannot only calculate compensations once a deal is closed, it also comes with a solution for salesreps to estimate their compensation for ongoing opportunities. All the already available deal information is held against their compensation plans in order to estimate the compensation for these deals. Salesreps can play with prices and discount levels and see the immediate effect on their potential earnings.
The same process can be implemented for Oracle CPQ Cloud. The effect to potential compensation of changes made to quotes by up-selling more products in a deal, or adjusting discount levels can be seen immediately!
In Oracle Sales Cloud, a complete overview of current earnings and estimated compensation based on ongoing deals is always available for any compensated individual.
But what if you do not agree with your compensation, or notice that you have not received any compensation for one of your deals?
The ability to log disputes and have insight in how those disputes are handled adds to the trust that any employee must have in the systems that calculates his income. Too often disputes are managed through …. EMAIL ! Emails being send around from the person having the issue, to his management, to the compensation, finance or HR department who might have to make changes in order to resolve the issues. Email is everything but transparent as the original sender has no idea where his email has gone.
Oracle Sales Cloud comes with a complete dispute management system where every dispute goes through a structured resolution process. Every step is documented and the progress is shared with all parties involved.