Quota Manager
National quota allocation, modeling, analysis, and management tool with built-in life sciences focused target setting methodologies. It allows you to set achievable and fair targets across geographies using a variety of sales and non-sales-based potential factors and applications of caps and floors. Business users can also iteratively model and analyze with pre-built analysis, bias checks, and statistics and compare performance across model configurations.
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Key Features
Use non-sales-based potential factors
Business users can incorporate a variety of potential gauging factors outside of the sales ecosystem such as marketing spend, key accounts, patient demographics, number of specialized physicians, etc.
Integrated forecast scenario modeling
Allocate national quotas to underlying geographies based on different performance scenarios such as optimist, realist, pessimist, etc.
Embedded ML-based sales trending methodology
Trend geography level sales for individual products using embedded machine learning frameworks with the option to select platform identified best methodology or manual selection
Built-in fairness analysis framework
Evaluate the quality of allocated quotas based on historical period testing and visually analyze performance across modeled scenarios using historical performance markers such as historical product volume, market volume, etc.
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Key Features
Use non-sales-based potential factors
Business users can incorporate a variety of potential gauging factors outside of the sales ecosystem such as marketing spend, key accounts, patient demographics, number of specialized physicians, etc.
Integrated forecast scenario modeling
Allocate national quotas to underlying geographies based on different performance scenarios such as optimist, realist, pessimist, etc.
Embedded ML-based sales trending methodology
Trend geography level sales for individual products using embedded machine learning frameworks with the option to select platform identified best methodology or manual selection
Built-in fairness analysis framework
Evaluate the quality of allocated quotas based on historical period testing and visually analyze performance across modeled scenarios using historical performance markers such as historical product volume, market volume, etc.
Your Guide to Sales Goal Setting and Quota Management
Sales quotas are a powerful and effective tool that provides the salesforce visibility of expectations and helps them work towards strategic organizational goals. Apart from helping you achieve your strategic objectives for different layers such as sales, market, and financial, it also assigns a definite timeline. While the right goal setting could do wonders for your business, setting the wrong quota could leave your salesforce demotivated and dissatisfied – the individuals happen to be the backbone of your organization and overall growth.
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Challenges with Setting Sales Targets
During every incentive cycle, the sales operations team and sales leadership have to deal with setting challenging yet fair sales targets. As a business, you have to ensure that your sales goals are engaging and realistic and that your sales team can meet their goals effectively while driving your business toward growth.
A lack of a thorough understanding of the market dynamics along with other external factors can make the process of goal setting inaccurate and challenging. Some of the common indicators that show there might be a problem with your sales quota include –
- Too many or too few hitting targets
- Extreme outlier performances
- High-performance standard deviation, causing an uneven or wide distribution of target attainment
- A disconnect between top/bottom performers and performance
- A mismatch between business objectives and team performance
- Biases in systemic payment based on historical product performance or specific market situation
- Changes in the performance of salespeople over an extended period of time
When sales quota is ineffective, it can end up being demotivational to the employees, impacting the employee morale and hence the company revenue. For a goal setting process to be effective, the set quotas need to be tested to ensure they are unbiased, fair, and able to deliver the desired outcome.
The right quota in sales can not only keep your salesforce productive and satisfied but also help you drive toward your organizational goals. Here are a few best practices that sales operations teams should keep in mind to set the right sales quota –
- Look at previous data to rethink new objectives and ways to achieve them
- Evaluate external market factors that may have an impact on the selling process
- Analyze the brand’s national forecast number using historical performance and realistic expectations.
- Keep sales targets flexible enough to be changed once they have been set, especially when unexpected situations occur .
- ● Use quota management platform to ditch manual work and automation to produce fair, effective, and accurate sales targets .
Sales Targets – How Automation Can Benefit Your Business?
Automating your quota in sales process can benefit your business in more than one way. With the right quota management tool, you can –
- Significantly improve the transparency for the salesforce and overall quota buy-in
- Improve performance and efficiency of the selling process
- Identify the strengths and weaknesses of your sales team
- Analyze individual geography’s quota performance based on selected parameters
- Ensure your sales targets are in sync with the market changes
Get Your Sales Quota Manager Today!
Sales quotas are a valuable metric to measure the overall performance scorecard of your sales team. Other than that, it also acts as an incentive to motivate employees to work and achieve specific goals. However, if you want them to be effective, you must know how to set them right.
With Aurochs’ Quota Manager, you can set fair and achievable target earnings report for your employees while allowing you to track their performance. If you want to increase the quality of your sales targets, get in touch with us to leverage the power and potential of our Quota Manager platform to drive your business forward.