Varicent Software, which sells incentive compensation and sales performance management products, has announced what company officials are calling "an integrated product" with Microsoft (News - Alert) Dynamics CRM.
The move is characterized by Varicent officials as producing a tool to help sales managers and sales users get a complete view of sales performance, compensation results and key performance indicators and better visibility into inquiries, compensation and plan approvals from a single application. It's also touted as helping users "manage other incentives, including Management by Objectives," and to "facilitate the development and management of quota plans."
Varicent officials see "business value" in the product arising from users' Microsoft Dynamics CRM being extended to sales performance, and "providing a single product that addresses the needs of various departments across the organization." Working with marketing, finance, sales and human resources, the product provides "alignment between field activities, and corporate strategy."
Brian Hartlen, vice president marketing at Varicent, argues that having an integrated CRM and SPM tool will "increase CRM's relevance to sales, motivating increased adoption rates. The sales audience will gain visibility into actual and potential commissions through enhanced sales reporting, analysis, modeling and forecasting available within this unique integrated offering."
TMC (News - Alert) reported that Varicent was selected as the SPM product for Nexient Learning, a Canadian corporate training and consulting company.
Nexient is implementing SPM “as part of a larger customer sector strategy aimed at improving sales and service effectiveness,” company officials said at the time. The company has grown through acquisition, and has disparate sales systems and compensation strategies.
The company’s management and sales reps were “challenged” by the lack of visibility and transparency into sales activity across the entire organization, company officials admitted.
Nexient said it implemented a standardized approach to the sales roles, customer coverage, and sales reporting across its business, and needed technology to support process improvements. Varicent SPM was expected to help “unburden sales management and sales representatives from manually tracking and calculating activities,” company officials said, adding that “ultimately, consolidated and segmented performance reports will improve sales effectiveness.”