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Effortlessly manage DSA sales commissions in NBFCs with automation. Simplify unique plans, ensure GST compliance, automate invoices, and integrate systems for accurate, transparent, and efficient financial processes.
Delayed or miscalculated incentives in the BFSI industry can lead to a domino effect—damaging morale, causing retention risks, and low productivity. The blog explores strategies to prevent the domino effect by building a resilient, transparent incentive management system that keeps your team motivated and aligned with company goals.
LIC recently responded to new IRDAI guidelines mandating higher surrender values by reducing agent commission rates. Learn how Incentivate’s dynamic sales commission solution can support compliance, maintain agent motivation, and enhance customer retention.
AI-driven cross-functional integration aligns sales compensation with broader business goals, optimizing strategies by uniting teams and eliminating silos.
AI transforms traditional quota-setting into a dynamic, adaptive process, tailoring goals to sales professionals' strengths and market shifts.
Incentivate launches incentive simulators, to help sales reps and agents understand their incentives earnings potential. Integrated into their sales commission dashboards, users can intuitively vary their sales performance or other KPIs to reveal how much they would earn.
Despite the company’s best efforts sales incentive plans may end up being more complex than one would like. Complexity to the plan may emanate from product/bundle complexity, multiple KPIs being blended into commissions as well as sales process complexity in itself which may not be easily avoided. In such scenarios, sales effectiveness teams have to ensure your sales reps/agents are able to clearly understand the link between their sales performance and what commissions they would earn.
Commission simulators or earnings calculators are a great way to achieve that. Incentivate’s commission simulators are easy to understand and use for end-users. This feature will help reps clearly link their performance to their earning potential and direct their effort towards the required actions to achieve that. What’s more, simulators can be adapted to your plans and multiple simulators can be embedded in commission dashboards to estimate earnings from multiple components and include riders/qualifiers in the calculator.
Read more about Incentive Simulators and all its features at the below link