NetSuite Commissions Built-In to Complete Sales Lifecycle
SAN MATEO, Calif. (October 06, 2005) – NetSuite, Inc., the leader in on-demand business management software for small and medium-sized businesses, today unveiled a set of new, advanced CRM+ features that allow for the tracking of multiple quotas and multiple forecasts, as well as the associated commission plans. Such powerful capabilities, which are the first for an on-demand solution, enable quotas, forecasts and commission plans to be driven using additional metrics that map to the way sales forces are actually managed. For more information about the new features available in NetSuite CRM+, please visit www.netsuite.com/crmplus_mqmf.
These new NetSuite CRM+ forecasting capabilities are not possible with typical SFA applications since such applications are not built to handle sales transaction related processes such as booked orders or incentive compensation. Built on the powerful foundation of NetSuite’s Order Management & Commissions platforms, the new capabilities allow companies to measure sales teams using more than just gross metrics of total sales or total bookings. For instance, many companies would like to have a quota for product sales, and another one for services sales. Companies that offer an ongoing subscription service may wish to incent their sales force on the revenue recognized from a single year of a contract, as well as the total value of the booked order.
“This announcement marks the death of the Excel forecast. Simple, single metric quotas and forecasts are rare in any size business, but the SFA tools offered–both on premise and hosted–can’t handle this basic requirement. As a result, most forecasting and commissions happen in Excel, not the SFA tool,” said Zach Nelson, CEO of NetSuite. “Because NetSuite CRM+ captures the actual sales transaction in the form of an order, that order can now be sliced and applied against multiple quotas, forecasts and commissions schedules automatically. No more Excel.”
The addition of these new advanced forecasting and commissions features furthers NetSuite’s #1 position in providing superior sales force automation (SFA) functionality. A recent report by Forrester Research (Source: Forrester Hosted CRM Tech Rankings) ranked NetSuite as the leading application in the most important functional areas of SFA including Forecasting, Opportunity Management, Activity Management, Dashboards, Document Management, Pricing & Products, and Queries.
Source: NetSuite