The sheer volume of data that is needed to do the complex compensation calculations also complicates the process. The huge variety of products available and the complicated structure of sales territories require a robust system capable of handling billions of rows of data to calculate pay.
Performio's incentive compensation management solution can effortlessly handle these complex calculations for you. We provide sales reps out in the field with a level of transparency that helps put their motivation into overdrive.
Our platform can handle multiple levels of hierarchy and syncs with HRIS systems. You won't have to worry about manually keeping track of reps that work in multiple territories and are re-assigned to different products.
Sales Comp for Pharmaceuticals at a Glance
- Common Data Sources: Salesforce, NetSuite, Oracle, and SAP.
- Common Sales Incentive Plan Components: On-Target Earnings model with multiple weighted components, tiered pay curves per component, payment frequencies varying from QTR to Half-year to Annual End of year true-ups. Sometimes with rankings and market share components.
- Common Sales Comp challenges: Frequent plan changes, complex territory structure, high staff turnover, and multiple data sources.
Easily automate your sales commission calculations so you can focus on bigger things
Automating sales compensation calculations reduces the overhead that comes with doing everything manually and creates a more streamlined process for everyone.
Keep your reps motivated by reducing the delays that traditionally come with calculating sales commissions. Not only that, but you can keep them happy by eliminating calculation errors, as well.
Faster and accurate compensation payouts equal happier reps that perform better.
Streamline one of the trickiest aspects of pharmaceutical commissions
How would you like to streamline: Sales reps and managers who change positions, plans mid-quarter, mid semester, or mid-year?
Our experience in the industry means that we know what you need. That’s why we built Performio to include specific functionality to handle both eligibility criteria management and plan change management. You can see all “slices” of commission in one statement that gives FLSMs and SLSMs the power to review data across all periods.
Our robust approval workflows cover all the edge cases and, we can auto-generate statements to include those edge cases as they come up.
Clearly communicate commissions to your salespeople to keep them engaged
Our incentive compensation management software makes it easy for reps on the road to stay in the loop. They can track their performance and get an up-to-date look at their expected pay. It’s an easy way to keep the team engaged and motivated.
Reps can accept new commissions plans in-app. This is all Performio, no third-party integrations required. Sales reps can also raise any queries or disputes using our innovative Chat-as-Workflow feature.
Performio is intuitive and easy to use. New hires can hit the ground running without any training.
Get actionable insights from sales data you can’t get anywhere else
Performio allows you to track and measure performance in the way that best suits your company to provide unparalleled access to the business data you need to make highly informed decisions.
You can measure performance according to product, territory, sales rep, as well by compensation plan or individual plan components.
Everything can be displayed in dashboards or reports that show:
- C-Suite see performance vs forecasts
- Sales Managers see team performance vs quotas
- Reps see actuals vs quotes and projected earnings
This gives you the power to make adjustments on the fly that allow you to maximize the performance of your team, like placing high performing sales reps in underserved territories based on actual data.
Performio excels at automating sales compensation for software companies
Performio has over 15 years of experience partnering with pharmaceutical companies to solve their sales commission challenges. Here are some of the world-class organizations we work with: