Every company, regardless of size, wants to generate more sales. For companies with more resources, this isn't a difficult task – they can invest in the tools and programs to bolster their sales departments. Small businesses, on the other hand, have less leeway to play around with, creating some intrinsic disadvantages that their larger competitors don't have to deal with.
Fortunately, software vendors are increasingly keeping startups and smaller organizations in mind as they develop new solutions that are cost-efficient for every business. As Chris Cabrera, an associate at sales compensation management vendor Xactly, told Business Insider, small businesses are no longer precluded from taking advantage of automated solutions to handle payments.
For years, many small businesses used programs such as Microsoft Excel to track sales commissions and payouts. This creates problems, as these solutions aren't meant to handle complex sales issues, and even the smallest of mistakes can have huge ramifications on the accuracy and speed of commissions. This is especially the case when sales managers at small businesses have other responsibilities as well.
"What is now happening is we are seeing small businesses waking up to the fact that they can now afford to use the best in class, the best practices and the best software solutions that are in the cloud," Cabrera told the news source. "The same ones that these giant public companies use."
The right sales management tools and vendors can help in other ways as well. For heads of small companies, sales might not be their area of expertise. This can lead to additional problems, such as ineffective commissions plans being implemented – initiatives that either aren't lucrative enough to salespeople or give too much money on commissions.
Leveraging the right solutions can help address those common problems as well. Sales compensation management software can be used to ensure companies are running the best sales departments they can, which will help set up businesses for success.
This can also lead to greater satisfaction throughout the workplace as well. Slow payouts or wrong commissions degrade workplace morale, which in turn can have an impact on sales. By leveraging solutions designed to handle compensation management, even the smallest of businesses can ensure their sales agents are being paid the right amount in a timely fashion.