In the ever-shifting market space of 2021, made more turbulent by the ongoing impacts of pandemic fallout and global resource shortages, looking ahead becomes a key priority. SPM solutions will become more and more integral to sales divisions and sales leaders in the coming year. This will also likely happen sooner than you might think. SPM solutions have traditionally been seen as a solution for only the largest enterprise customers. However, industry expert predictions find that by 2022 over 40 percent of B2B companies with over 100 salespeople on payroll will deploy SPM solutions to reduce errors on both over and underpayments on sales comp. Additionally, by the same year, 75 percent of compensation disputes within organizations that use an SPM solution will be able to solve the issue with a digital assistant. So what does this mean? Next year, it’s going to become the norm for businesses to streamline and automate their incentive compensation processes. Ease of access and the ability to focus resources on higher value activities will become the industry standard. (Gartner)
Other predictions place 2022 as the year in which about 50 percent of sales organizations will have employed dedicated SPM solutions to aid their leadership operations and run things smoothly. Businesses across the board identify sales performance as a priority moving forward and are using these solutions to address that priority. As SPM software becomes more standard, sales teams are identifying the benefits of such systems, in error reduction and comprehensive overviews of sales. The businesses that choose to employ these methods will gain a competitive advantage, becoming leaders in their industries and pull ahead of their contemporaries, leaving behind those who failed to innovate. (Ventana Research & Forrester)
In this changing digital landscape, it is important to look forward, to always have your eye on the horizons, and to predict the shifts in your industry. For those who employ sales teams, this is the next wave of innovation. Next year a large majority of businesses will be using these programs, and before long you are going to be the odd one out if your team does not. SPM software allows a great amount of optimization and control, tailor-made for any team or business. It is no surprise that this technology has been noticed and is beginning to be utilized by industry leaders, who desire the efficacy that SPM can bring. The use of this software is the next big shift in sales management and will differentiate the leaders from those who are in the past.