Enhance Your Technical Support Team's Performance with airSlate SignNow's Sales Performance Management System

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all right uh welcome everyone and thank you for joining us in uh soft cloud's continuing uh webinar series today we will be discussing sales performance management and how oracle sales performance management can assist in providing operational effectiveness my name is brian friedman i'm gvp of sales of soft clouds and i'm joined by balarama chandran who's our founder and ceo we will be discussing the oracle sppm and how it assists companies to start off what we really want to focus on is how the sales landscape is changing what we're finding is that consumer behavior is changing significantly customers are really showing that they're not concerned about who helps them they're just concerned about getting help and making sure that they're getting the answers and the information that they need 73 percent of consumers say that the customer experience is an important factor in their purchasing decisions and 45 percent of consumers are using mobiles more than ever as a shopping channel and this i think has probably increased even more during the pandemic and the times that people have been at home and not able to go out and do their typical type of shopping behavior 51 percent of consumers rely on the content that they can gain through research to influence their buying decisions and 55 percent of consumers are willing to pay more for a better customer experience so what this means really for the seller for the provider of these services is that the need is increased for sales enabling tools to support and guide the reps as well as the consumers in their activities there's a need to develop skills to have greater knowledge and experience in order to give the type of customer experience that customers are looking for and sales coaching is definitely needed to be able to uh provide the type of information that that a customer is looking for one thing i neglected to mention at the beginning of this is that we have placed all of you on mute if you have a question uh please feel free to answer ask the question you can do that in the q a section in the dashboard so feel free to jump in if you have any questions as we go through this presentation so what all this means is that there's a need for platforms to assist and to help what what we find is that 86 of employees say that a lack of effective team communication results in workplace failures sixty percent of companies lack a long-term strategy for internal communications and eighty-seven percent want transparency into commissions and incentives and this this is really a huge piece as we're talking about this because what we find is that the sales people want to be able to know and understand where their commissions are coming from how they're being compensated and how they can increase or gain greater commissions in the transaction so as we talk through some of the components of the sppm platform we'll really focus a bit on how this impacts the way that selling is done and the way that sales people are incentivized to sell more and sell better 71 percent of employees fail to read and engage with company emails and content and we all see this in in our day-to-day life as well that a lot of communication a lot of information comes our way and we don't really focus as much attention on it as we should and this number seventy percent of employees work remotely at least one day a week obviously that's changed significantly in the past year and most likely will change even more going forward because the notion of the traditional workplace where people go to work and they they spend their day they spend their week that's changed significantly and probably changed forever in terms of the way in which companies operate as a result of that companies are going to need more tools and more ways to engage with their employees and their sales people to make up for that gap in not being physically present in the office face to face on a daily basis when we look at the spm market it's going to grow exponentially the spm market is seen as about a 1.5 billion dollar market in 2020 and will more than double in size to 3.4 billion by 2026. so 40 of b2b companies with more than 100 payees employees who get paid a commission or an incentive they're going to use some type of spm to reduce incentive compensation payments by three to five percent by 2022. 44 of the overall increase in sales takes place when there's a strong incentive structure in place and we'll talk about some examples of this later on but there's real world examples of how a company can increase sales and increase margin by using an effective incentive compensation platform there's three times more cost effective use of non-cash rewards to motivate motivate sales teams and 75 percent of banks using spm see a 75 increase in revenues generated and what this means is that banks will set the goals for their branches or their employees and in doing that they'll see a significant increase in revenues because those employees understand what they need to do which products they need to focus on which products they need to promote to customers in order to be more successful to have a more successful banking relationship so if we look at the two ways that spm platforms are ranked the gartner magic court quadrant and the forester wave you'll see that oracle ranks in the top quarter in both of these instances very highly rated platform uh a very well respected platform in in the industry so why is sppm needed today well and again these things have changed significantly in the past year but the sales team is distributed and this has always been the case that sales people are located all over the place they aren't necessarily coming into the office they don't have that face-to-face contact with management in in the managers work from home obviously has created a level of opaqueness and this is something that a number of companies have struggled with in the past year because the transition from being in the office to being solely remote really has caused a number of companies to question and not fully know what the sales people are doing what their performance is and how they're performing against goals managers end up relying quite significantly on sales people doing self-reporting and as we all know that can be a very unreliable way to gain information about the progress of the sales funnel in this progress of sales process and especially in remote work it's easy for a sales team to bluff it's easy for people to say they're doing work their pro they're moving prospects forward when actually it may not be happening at all so why do companies need sppm 83 of companies have payment inaccuracies in their commissions 72 of companies don't have their incentive compensation plans ready on day one of the fiscal year sixty percent of companies use error-prone disjointed sales processes and forty percent of executives rely on instinct when setting quota targets we're just in uh the middle of march at this point but you can see how without these things in place if a company wasn't ready on the beginning of the calendar year at the beginning of any fiscal year there could be a long lag between the time that the new year starts and the processes quotas incentives are in place to start the actual sales process in a new fiscal year so all of this is extremely important in having a way to create these metrics create the plans set quotas and have a way for management to know what the quotas are and for the sales team to know what the quotas are so the planning and sales the challenges in sales planning really fall into three categories can be a disconnected process an outdated process and that it's inefficient on the disconnection side what it really talks about is the management team having limited insight and leading to inaccurate and infrequent forecasting so if there's inaccurate forecasting it's very difficult for the sales team to know what they're going to do what they need to do and how they need to move forward to achieve their goals on the outdated side a lack of modeling and analytic capabilities will often create a need to use manual processes to create goals to create forecasts to create quotas and as a result of that if the departments aren't speaking to each other in a modern way silo departments will act on their own and come together at some point to create a sales model and a sales forecast it's not a very efficient way to do it and so in that efficiency in lack of efficiency you lose sales reps you have a constant refinement and revision of forecasts and accounts and when things change in march of 2020 as a perfect example there's an inability to quickly change quotas and territories to respond to unexpected market conditions and we saw that very clearly last year when things began to lock down and shut down and companies really didn't have a way to efficiently go and change the quotas change the forecasts and adapt to the way in which the market was changing so significantly so to meet those challenges you need to be adaptable you need to find a way to help reps reach their quotas faster you want to be able to triangulate the pipeline the actuals and the models and you want to be able to analyze and adjust quotas so that you can retain talent that you can help people grow in their position you can keep them motivated and you can give them the intelligence that they need to really execute on their sales goals in doing that you can maximize your go to market efforts you end up with high performing sales teams and the entire incentive compensation solution becomes an automated solution so as we're looking at this we're really going to focus in on one specific area of five different parts of the oracle sales suite and that's the first one on the left the sales performance management piece we're going to look at incentive compensation we'll look at sales quota planning territory management and predictive sales forecasts and this all comes in as part of the overall oracle sales suite that includes salesforce automation customer data management channel management and the platform itself but today we're just focusing on sales performance management in oracle sales performance management consists of five different components sales planning quota management territory management incentive compensation and forecasting so let's look into each of these in a deeper way for predictive planning and performance management what we want to be able to do is assess the plan accuracy to really optimize market potential improve the forecasting and mitigate opportunity risks what this means is that we bring all of this data together and all companies have this data it's a question of how it's stored and how it's used by using the oracle sppm platform you're able to take this data and put it together in a way that gives you more accurate forecasting and find a way to mitigate opportunity risks so by having this connected planning and performance management platform you really are able to bring sales planning sales onboarding and responsiveness together so that the sales team understands what their goals are and how they can meet those goals and the goals are set in a realistic way they're done in a way that it's something that based on historic performance and logical forecasting the sales team has a way to be successful has an opportunity to be successful so there are a number of templates in the sppm platform that have best practice methodologies and a smart view for predictive planning capabilities and what that means is you're able to modify different components different elements of the performance and do it in a way that is logical and understandable for the sales team and by doing this you've got clean complete and accurate data and once you take this historical data and you create future quotas there's a justification for that there's an ability to say the quota for the coming fiscal year is logical based on various components and you can point to those components you can point to the data and you can explain to the sales team why those goals for the coming fiscal make sense you also have an ability to incentivize the key stakeholders and what you want to do with this is you want to align the teams to the business goals you want to get to the point where the sales team is incentivized to do what management wants which has help the company make more money and in doing that you roll out incentive programs that make sense based on sales goals sales quotas and profitability that enables you to have a win-win situation so we look at sales planning we have the planning part the analyze part and the adjustment part on the plan part you can set actionable and motivating quotas and goals based on historical information current data and predictive analytics on the analyze side you can support the planning attainment measure sales performance and you've got analytics dashboards to be able to see how things are progressing on a day-to-day week-to-week and month-to-month basis and you've got the ability to adjust the quotas by product accounts seasonability or unexpected market conditions any of these things give you the ability to change as you go based on how the market is performing on the sales performance management side you can mentor motivate and maximize so on the mentoring side what we're talking about is data driven analytics which are based on quotas earnings cost of compensation activities and predictive deal forecasting all of this again is how you motivate the team to move ahead with sales goals to move ahead and get to the point where the sales team is successful they're aligned they're meeting their quotas and there's financial stability and financial justification by the company for the way in which all this is going forward and all of that then allows us to maximize the way in which things take place the result you've got a connected process that's much quicker to be deployed based on intelligence the connection part is where we connect the sales planning with finance and hr we integrate with erp and sales data and we connect incentive compensation quotas and territory management this then gives us a faster way to achieve quotas to make sure that cop is paid quickly efficiently and effectively we increase the time to value for the reps and we have structured sales programs and the intelligent piece of this is that we minimize the manual processes we take away the guesswork we take away the spreadsheets and the amount of time that it takes to do a lot of these different steps in the process and we increase accuracy and efficiency we replace intuitive forecasting with intelligent forecasting and using this data-centric approach we've got very powerful planning tools so let's briefly look at what the future of spm looks like if we look uh eight or nine years in the future the vision for spm is that sales incentive plan eligibility will focus on roles that interface with and influence clients sales will be the key element driving incentive plan metrics super sellers will emerge challenging in existing compensation limits participant experience will be consumer grade with personal communications overriding choice and sales compensation will be consultative as opposed to just a straight out intuitive basis the top technologies that will drive spm will have robust crm platforms with multi-channel communication and full control of the customer journey we'll have artificial intelligence used throughout the process to automate project management tasks planning forecasting and development of sales metrics we'll use digital assistance so that users will be able to interact with conversational ui the internet of things will play in to connect technologies and products to allow more opportunities and the predictive analytics will help in the sales pipeline management and forecasting so let me stop there and see if we have any questions at this point max did we receive any questions yes let me open up these questions okay here's question one uh what are the different compensation plans that can be automated in oracle incentive compensation i can take that question brian okay so from the compensation types point of view you know some companies provide the compensation plan of straight percentage basis and some companies provide based on the pro you know margin and also some companies even these days as you mentioned brian with the connected devices and things like that even usage based commissions are becoming normal these days uh fortunately the article icm module uh can work with any of these types of the commission plans and even if you take uh [Music] multi-level marketing kind of companies you know where they have completely different kind of compensation plan either matrix based or they have more than 10 different commission plans they have in multi-level marketing kind of industries so i'm referring that particular market industry is that you know where we have very complex um commission structure oracle icm can handle any of these types of commission plan or commission structure and automatically calculate the commission and based on variety of these input parameters and provide commission information to the base great thank you bala uh max do we have any other questions yeah so this uh this person asked well we use salesforce as our crm platform would i have to purchase oracle crm in order to use the oracle incentive compensation module that's a very interesting question probably five years ago we wouldn't have even encouraged that question uh in oracle webinar so that's the world we are living in you know the companies and executives are fine with the multi multi sas or multi-cloud concept the good news is that again oracle incentive com can work as an independent module and it can take the transaction information from the sales force opportunity or salesforce code or any any other systems and uh can process those commissions uh and calculate conditions in icm and uh work as it works with articles from sabbath club great thank you bala um max i see we have one other question so far yeah well last question um in our industry the commission payout happens post delivery how does oracle icm handle the situation that's an interesting question um so in fact we are working with a company implementing ipm um now and it's going live in a few weeks um so in this kind of situations you know once the product is sold and delivered and the erp systems get the notifications the transactional data for icm will come can flow through erp system and uh just like the way the previous answer i provided it could be and crm or any other crm or erp after the post delivery or post fulfillment or post provisioning of an order the information can be fed to icm for commission calculations great thank you bala i'd like to thank you all for joining us today we will uh be circulating this deck in a copy of the webinar for your future use and reference if you'd like that and we look forward to hosting you again in our next webinar in about two weeks thank you all very much and uh have a great day