Sales Performance Management is a term that has evolved over the past few years to describe the process of measuring and rewarding sales performance. In the past, similar industry terminology such asSales Incentive Compensation Management (ICM), Enterprise Incentive Management (EIM), and many other acronyms were popularized by consultants and practitioners to describe the same fundamental process of measuring and rewarding sales achievement. Practitioners using the term Sales Performance Management typically refer to three keystone elements to the process;
- Territory Management – The scope of responsibility
- Quota – goals and targets
- Sales Commissions and Incentive Compensation Management – Timely and accurate feedback in the form of calculated performance achievement, earnings & reports.