Sales Performance Management Market by Solution (Incentive Compensation Management, Territory Management, Sales Planning and Monitoring, Sales Analytics), by Services (Consulting, Implementation, Training and Support, Managed) - Global Forecast to 2020
The increasing business progressions across organizations are significantly transforming the operational patterns for organizations worldwide. This has invariably led to the obligatory need to drive sales so as to derive more revenues for the company through enhanced customer engagement. With the definite realization that boosted sales force form the core valuable asset for organizations that define its success functionality, the need to have the sales teams equipped with efficient sales tools and processes has led to the advancement of sales performance management solutions.
Sales performance management solutions facilitate organizations with a consolidated view of their sales data, manage sales teams from anywhere in the organization, and ensure collaboration of their sales workforce. This sales performance management solution helps organizations achieve sales targets, align sales goals based on customer-centricity, outperform their competitors by covering higher sales quotas, aligning their sales strategies to ensure accurate sales revenue generation and commission allocation. The sales performance management software and services help organizations to forecast payouts, standardize sales, share sales data for attending queries, synchronize sales documents, analyze sales channel performance on real-time basis, and credit sales through fair application of compensation. This in turn has helped organizations prioritize their business, improve process efficiency, increase performance through proper sales hierarchies. Further, with the increasing realization of converting sales potentials through client interactions, organizations are improving sales productivity by building client-sales models aligned with categorical sales representatives. Considering these optimizations, the users namely the Small and Medium Businesses (SMBs) and large enterprises, have been instrumental in widely adopting sales performance management solutions.
With client data holding the highest creditability, proficient sales conversions is becoming the substantial factor driving revenues for organizations. The incorporation of sales performance management solutions assists organizations in ensuring timely execution of all their sales initiatives, increase sales turnover, widen visibility of sales coverage, and ensure higher sales satisfaction through execution of intricate sales plans. Further, the SMBs and large enterprises are precisely incorporating these solutions to ensure the precedence of highly motivated salesforce engaging to maximize business value for the organization. In the recent years, the realization of the potential clients that can be identified from the accumulation of sales data present in the organization have led to the expansive considerations of multi-functional sales performance management solutions. The incorporation of the sales performance management software deployed over the cloud and on-premises provides organizations with multiple approaches to accurately manage, maintain, update, and regularize the sales content. This content facilities sales collaboration, and permits visibility for the sales representatives over their mobile devices. Thus, sales performance management has been instrumental in revolutionizing the sales performance within the organizations.
With the rising acknowledgements to sales performance management, these software solutions and services is fast gaining momentum in the market. This has in turn benefited the sales performance management software providers, sales performance management managed service sellers, and cloud-based sales performance management service vendors to leverage and expand their provisions in this market. Considering this, the sales performance management offerings have also been essentially accountable for increasing the average revenues for these stakeholders in the sales performance management ecosystem. Further, the bridging of technologies for Business Intelligence (BI), within the sales performance management offerings has also led to the advancement and broad considerations by various industrial verticals to embrace the usage of sales performance management. Thus, these augmentations have also fostered the rise in sales performance management software and services market.
Over the years, the indispensable requirement to have competent incentive compensation management system, increasing BYOD trend among organizations, and mounting demands for maximizing value of organizational data are some of the prominent factors driving the adoption sales performance management software and services. On the other hand, lack of awareness about the positive impacts of sales performance management, and prevailing sales data security apprehensions are the restraining factors hindering the growth of the sales performance management market. Considering this, the report further helps to identify the latest patterns and trends intensifying the progression in the sales performance management market across all regions.
North America, Europe, and Asia-Pacific have the highest adoption and usage market of sales performance management. The regions of Latin America, and Middle East and Africa are gradually considering these sales performance management software and services, and in turn offer a lot of opportunities for the vendors in the sales performance management market.
There are various assumptions that have been taken into consideration for the market sizing and forecasting exercise. A few of the global assumptions include political, economic, social, technological, and economic factors. The dollar fluctuations are expected to not seriously affect the forecasts in the emerging regions.
The report will help the market leaders/new entrants in the sales performance management market in the following ways:
1. This report segments the market of sales performance management into software solutions and types of services covering this market comprehensively. The report provides the closest approximations of the revenue numbers for the overall market and the sub-segments. The market numbers are further split across deployment types, user types, and industry verticals in all the major regions.
2. This report will help sales performance management software and service providers better understand the competitors and gain more insights to better position one’s business. There is a separate section on competitive landscape, including mergers and acquisitions, and venture capital funding. Besides this, there are company profiles of the ten major players in this market. In this section, market internals are provided that can help place one’s company ahead of the competitors.
3. The report helps the suppliers understand the pulse of the market. It provides information on key market drivers, restraints, and opportunities.