In an effort to maximize time management and productivity among channel sales reps, Channelinsight, a cloud-based, sales management platform specifically for the channel has teamed with on-demand sales compensation and performance management solution Xactly.
The Compensation Management Solution is designed to provide vendors with the resources to restore direct sales rep confidence and increase overall visibility into sales activities. In an effort to ensure reps are paid for channel sales accurately and on time, the new solution also is expected to improve channel loyalty. As a result, vendors will achieve greater mindshare, making partners more willing to run programs and discuss opportunities with direct reps.
“Channelinsight and Xactly sought a way to optimize compensation management for the channel by providing unprecedented visibility from lead all the way through to compensation,” said Mark Geene, CEO of Channelinsight. “By combining our visibility into every aspect of channel sales with Xactly’s ability to manage sales compensation from calculating to paying commissions, we are enabling channel sales teams to spend less time tracking sales and more time selling.”
Lack of visibility into channel sales data results in overpaying incentives and commissions by as much as 5-10%, according to Channelinsight. Furthermore, research from Gartner’s “Top Processes for CRM Sales, 2012” report reveals that “through 2012, enterprises will miss the equivalent of 5-10% of annual sales as “lost opportunities” that could have been captured through improved management of sales territories, quotas and compensation plans.”
Powered through Channelinsights’ Lead to Ship functionality via the Sales Manager solution, the Compensation Management Solution provides accurate shipment data in real time to open and incomplete opportunities. Discounts also are calculated so commissions are paid on net price, rather than list, encouraging greater efficiency among sales.
To address the need for in-depth access to sales progress, the Compensation Management Solution for the Channel links opportunities with point-of-sale data. Sales reps are enabled to receive accurate opportunity and shipment data and can click on the Xactly “estimate incentives” button to see commission potential for any potential partners and contacts.