Work 365 enables users to track sales incentives for the recurring business model of cloud-based revenue. There are two important areas around incentives to keep in mind:
- How to incentivize employees
- When to incentivize employees
- Create an incentive template: Work 365 ➤ Templates (under incentives) ➤ +New
- These templates are a way to define the parameters of an organization’s incentive schemes.
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- Any subscription that matches the criteria of the template (ie. effective date, expires on, product class), is eligible to be added to a sales person’s incentive plan.
- Any subscription that matches the criteria of the template (ie. effective date, expires on, product class), is eligible to be added to a sales person’s incentive plan.
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- Fill in these fields:
- Name: Unique name for the sales incentive template
- Product Class:
- This will link to the product class defined on a subscription entity. Note that all subscriptions must have the product class entered for Work 365 incentive calculations to work.
- It’s recommended to add the product class on products in the product catalog, which then populates automatically when a subscription is created. For information on the product catalog see Configuring the Product Catalog and Non-Recurring Products.
- This will link to the product class defined on a subscription entity. Note that all subscriptions must have the product class entered for Work 365 incentive calculations to work.
- Effective Date: The date on which the template becomes effective.
- Example: using the calendar or fiscal year start date.
- Expires on: The date on which the template becomes ineffective, and no longer eligible for incentive plans. Incentives earned for a subscription during this period will not be eligible after this date.
- Example: using the calendar or fiscal year-end date.
- Incentive Basis: Revenue-based or Net (GP) based
- Net: Incentive on Margin
- Net= Revenue – Cost
- Revenue: Incentive on Revenue
- Net: Incentive on Margin
- Incentive %: The percentage of incentive calculated against the incentive basis (Revenue or Net).
- Frequency: The frequency of incentives paid out.
- Monthly, Quarterly, Yearly
- Earned For periods: The number of periods for which incentives will be earned where the period is determined by the frequency.
- To incentivize sales employees on a monthly frequency for a year, then select monthly as the frequency and enter 12 periods.
- To incentivize sales employees on a Quarterly frequency for a year, then select quarterly as the frequency and enter 3 periods.
