These tools will usually have a dashboard in them, and a dashboard is an integral part of Sales Performance Management, but it is not the only component. It is not simpy the reports that are produced from many sales tools, but these are components, too.
A Sales Performance Management Framework is most needed when a company desires to:
- Increase Sales productivity
- Improve forecasting
- Increase topline revenue.
Sales Performance Management is the framework, methodology and metrics needed to drive superior sales performance.
However, it is a subset of Business Performance Management, much as Sales is a part of a business. So, the objectives being driven in Sales Performance Management must align with the business objectives and strategies being managed in a Business Performanace Management realm.
A recent post on the BeyeNetwork refreshes the reader with the definition of Business Performance Management. The author, Craig Schiff, puts forth his simplified definition, “A simplified definition I use today is that performance management enables organizations to plan, monitor, and execute on their strategies.”
Taking that to the Sales Performance Management definition, SPM would enable an organization to plan, monitor, and execute on their sales strategies as aligned to the higher business strategies.
- Measurement and Metrics
- Process Optimization
- Reporting, Trending and Predictive Analytics
- Sales Alignment with Strategic Objectives and KPIs
- Integration to other Sales Drivers (e.g. Sales Process)
What concepts or terms would you add to this definition? Does your Sales Performance Management match this definition?