In the world of Sales Performance Management (SPM), probably one of the most important acronyms is ‘TtV’ (Time-to-value). Three tiny unassuming letters that can, if you pay attention to them, ensure a successful SPM project in addition to saving you considerable time and money.
“Time to value (TtV): The period of time between a request for a specific value and the initial delivery of the value requested. Said value is a desirable business goal that can be either quantifiable (tangible) or abstract (intangible).”
When integrating a new SPM system into an organization, any system integrator will tell you that the success of the project can largely be attributed to two key factors; a successful technical integration and… the clock.
(And not necessarily in that order).
…Because SPM is unbelievably vulnerable to both internal and external changes both during and after deployment.
In order to avoid long, inefficient, ineffective and costly SPM implementation, you’ll want to make sure you have these five key issues covered:
• Short Design or Gap Analysis
Ensure that you fully understand the design / gap analysis process. Does it require long, drawn out designs and approvals, etc., or is your selected SPM platform technology agile enough to provide a gap analysis / design in days and weeks respectively due to its built-in flexibilities, as opposed to months?
• KPIs: Later rather than sooner
Does your selected SPM require your company to provide all your KPIs (number of products sold, number of product returns, etc.) before implementation or can they also be created within the system, afterwards based on transactional data? If your system administrator can expand on just a basic number of initially programmed KPIs after implementation, you’ll significantly cut down on TCO.
• Friendly GUI?
Just how intuitive, flexible and friendly is your GUI? Does it allow you to make changes and updates freely? You’ll want to make sure your chosen SPM is code-free so that your administrators are free to define new business models, geographical territories and evolving organizational structures without having to get a PHD in technical code writing This one little item alone can save you a small fortune in TCO.
• Data enrichment on-the-go
Advanced SPM system allows customers to merge various data elements into every transaction so that all calculations include that information at any stage of the sales cycle or payment collection that will occur shortly thereafter. That’s the power of turning raw data into much more meaningful information.
• Just how long until go-live?
This is the holy grail of successful SPM integration. Find out, in black and white, just how long it will be until you can expect the system to be fully up and running. Get this right and you’re good
When it comes to successful SPM system implementation, the devil is in the details. If you get these five points right, you’ll be laughing all the way to the sale.