Importance of Data Integration in Sales Performance Management Solutions
For several decades now, businesses have used Incentive Compensation Management (ICM) solutions to calculate commissions and implement their sales compensation plans. However, as technology grows and company needs change, businesses are finding the need to switch to modern compensation management systems.
For instance, with businesses growing and operating environment changing, sales channels have become complex. Additionally, service and product offerings by companies change. To handle the complexities arising from these changes, businesses will require sales incentive systems that do more than just calculate and pay commission. This has led to the rise of compensation systems that focus on sales performance management.
What can a Sales Performance Management system do for you?An SPM system is a good solution to many challenges your business could be facing in relation to the execution of sales plans. Businesses are using SPM solutions to:
Improve Accuracy in Highly Repeatable Processes – for instance, when you use a modern SPM, you no longer need to manually import or export sales compensation data into an existing CRM or HCM system. Seamless integration eliminates manual processes thus helping to reduce chances of errors in data transfer and processing.
Save time – an open, standards-based SPM application that interoperates with existing applications and is easy to set up saves an organization a lot of time that can be used on other profitable tasks. Besides, real-time access to data from a central location helps streamline operations, improve employee productivity, lower costs, and improve customer experience.
Even with the above goals, any serious company won’t invest in a new application without first evaluating how easy or quick the process of deploying and implementing it will be. Another important consideration is how the new software will interoperate with the existing infrastructure. Why do these considerations matter?
The Importance of Integration
When you acquire an application that connects with existing systems seamlessly, your business can maximize the application’s full value and enjoy maximum ROI. Your existing systems cost money to acquire and maintain. Besides, they host important business information that you don’t want to lose in the process of switching to a new platform.
Data integration brings the different sources of business information together giving a central access to data to save you time and money. With a data integration tool, you don’t need to do away with your existing CRM, HRM or ERP just because you are acquiring a new Sales Performance Management tool. All you need is an SPM with data integration capabilities.
Data integration eliminates the need for manual labor related to transfer of data from different existing systems to a new application. Besides, any good integration tool will ensure proper protection and preservation of the information stored in different business applications such as CRM, ETL, ERP, and others. Integration ensures efficiency and effectiveness in business operations.
A Good Example of an Efficient Data Integration Tool is QXchange
QXchange is a robust data integration application that’s flexible and easy to use. This on-premise installed software enables Sales Performance Management system’s interoperation with leading accounting systems such as Quickbooks, Xero and SAP Business One. It is also the software you will require when you want to automate the interchange of data between your Incentive Compensation Management system and popular CRM systems such as Salesforce, MS Dynamics, Sugar CRM, and Oracle Fusion, among others.
It features a simple, intuitive user interface that enables users to easily extract data, transform it into desired formats and feed instructions for transferring data between platforms with different formats. The software’s ability to convert data into different formats enables you to sync all your enterprise data whether you are using a Comma delimited flat file-based system, MS Access, MS SQL Server, Excel, and others. QXchange’s simple architecture means that no prior training required before your staffs can begin using it.See this Salesforce demo to get a better idea of how QXchange can power your business integration.