These questions that are essential to ask Sales Commission vendors can be broken down into two major categories: product fit and implementation and service.
You need to know how an Incentive Compensation Management software is going to suit the unique needs of your business. Put the vendor through their paces and have them use a demo site so you can see how your data can be reflected using their ICM software. Always check how much of the functionality is 'out-of-the-box', configured and custom items, and understand how much of the user experience you as the customer will be able to control.
Implementation and Service Fit
You might think that adopting one particular ICM software is a no-brainer. It works exactly how you need it to. But have you checked what the implementation process will be like? Always find out who exactly from your ICM provider will be working on your account and how well they know their own system. The worst case scenario would be a long - and costly - onboarding process and lengthy delays when need assistance because your account managers don't know their software well enough.
The webinar finishes with a couple of bonus questions that could help you to better understand ICM software providers and their product, and if they might be the best fit for your business.
When is the Right Time to Switch
The answer to the question in the headline depends upon—and this may be hard to hear—how much pain your company can bear. Find out when is the right time to switch your variable compensation software.