Using Excel to Track SalesUse Excel to track sales
Commission handling is already a laborious job, which becomes even more complex with Excel. Today there are much better possibilities in the commission related softwares. Let's talk about the reason why your company should hesitate to keep using Excel tables and consider commission based solutions instead. First and foremost, Excel tables are susceptible to errors.
Indeed, research shows that 88% of Excel tables contain error. Whilst Excel has intuitional calculations that you can use to charge fees, it doesn't prevent people from making mistakes by manually entering information, accidentally deleting, omitting, including specific cell in calculations, saving omissions, etc. Migrating from Excel tables to commission-based softwares reduces mistakes significantly.
In addition to all the possible mistakes we've been talking about, inconsistencies also occur with companies that have more than one version of a spreadsheet. What's more, they can have more than one version of a spreadsheet. What's more, they can have more than one version of a spreadsheet. According to a poll, 44% of companies have problems with more than one version of spread sheets. In the case of commission-related softwares, the necessary information for performing the calculation is provided once and does not usually have to be updated again.
You can of course make changes to percentage rates or amount payments, but the number of mistakes drastically reduces if you cannot change dates simply or unintentionally. At the same time, in the same poll, they said that they spent 12 hrs a day each months "consolidating, changing and revising the spread sheets on which they work with others and which they often reuse".
It is a wastage of time when you fiddle with more than one version of the spread sheet and entry at each payout. Even worst, mistakes are accepted. Staff recognize that there are mistakes, but do not want to devote the effort to finding them (provided they are small). Businesses that move to commission-specific softwares are saving hrs moving from a more human to an automatic one.
And, when the people who handle the commission spending less and less on checking Spreadsheets and troubleshooting can concentrate on other important things for your organization. Performancerelated assessment is indispensable for any type of company. Analyzing in Excel tables can be tricky and timeconsuming. They can edit the dates and make diagrams and diagrams within a spread sheet, but all of these involve very much manually-processing.
The mistakes we have debated in a spread sheet have led companies to make judgments or make judgments on the basis of imprecise information. Techwalla also states that Excel tables should only be used for short-term analyses, not for long-term analyses. Concerning commission information, you want to go back one, three, three, even five years and see trend.
Put simply: Excel is not the right way to do this successfully. Using order-specific softwares, the analyses are less complicated. Sometimes the softwares even create real-time graphics that you can watch. This information can help you steer your company in the right direction on the basis of precise inferences. Below is an example of a real-time graphic that shows the commission per sales representative within AgencyBloc.
This information enables the company to better target its top manufacturers and better determine which sellers may need more support or advice. These are just a few examples of the types of information you can quarantine and analyse with commission-specific softwares. "Graphic "top agent fee received" in AgencyBloc. The search for an order-specific application can be somewhat daunting.
Also, you should be aware that many CRM plattforms have built-in commission tracing capabilities. It might be a good choice for companies that want to store all their information in the same system. Conclusion: If you are still using Excel tables to track and track your company's commission page, you are likely to take too much of your computing power, your Spreadsheets are likely to contain mistakes, and you are not going to learn and grow from analyzing your own information as you should.
It'?s good to see a difference? Celsey provides and manages education and training for insurers to make better commercial choices, incorporating the use of technologies. The AgencyBloc is an executive search system that enables insurers to expand their businesses with industry-specific CRM, commission handling, and built-in enterprise and market intelligence.