Processing SPIFF claims in a timely and efficient manner is a critical component of any sales incentive program.
A SPIFF program is all about maximizing revenue and building brand loyalty by rewarding sales partners for focusing on your product on the sales floor.
For any type of incentive to be successful, the turnaround time needs to be fast, reinforcing the selling behavior your brand is looking to reward. If the reward is not done in a timely manner, associates in your channel will not make the connection between the late reward and the behavior you are seeking to enforce.
This need for a fast turnaround requires a delicate balance in which SPIFF processing teams must carefully analyze all sales claims for accuracy and eligibility with the program, while also getting payouts out to accounting quickly so the final payments can be made.
Keeping everything running smoothly can be challenging in the most difficult circumstances, but what happens when your resources get pulled?
Dealing with a resource shortage
SPIFF program managers can end up left in the dark when resource allocations behind their initiatives get pulled part way through, but there are a few options that can pay off even in the most trying times.
Whether you are dealing with human resources or fiscal ones, you need to consider a transition to digital SPIFF management.
For a minute, think of how much time you spend gathering records from sales partners, organizing files, transferring data between sheets, making phone calls to clear up any areas of confusion and sending final paper invoices out to accounting.
Now, imagine if all of those processes were completed within a single application. Obtaining sales reports is simply a matter of opening a file sent over from a sales partner. That data is then automatically organized and pulled by the channel management software to calculate SPIFF eligibility and payouts. From there, you simply verify the facts and pass the digital invoice over to accounting with a click of the mouse. A process that once took hours for each SPIFF claim can now be completed within a few minutes.
A resource shortage doesn’t have to lead to a struggle. Instead, it could be an opportunity to get your organization to modernize.
“A resource shortage doesn’t have to lead to a struggle.”
Turning a problem into innovation
There are multiple reasons that your brand could pull resources from your SPIFF claim processing team. For example, your marketing and finance teams may need human resources to support program administration, leading to them borrowing your staff. These kinds of situations can be aggravating, but they don’t have to hold you back. Instead, you can take consistent resourcing issues, such as absent staff or financial concerns, and leverage them to convince business leaders to invest in innovation.
Adjusting resources on the fly once or twice may not say much about your company, but habitually shuffling personnel and finances just to keep up with everyday tasks is a critical issue. Your company may not have the fiscal headroom to hire more staff, but subscribing to a cloud-based channel management platform can help you manage SPIFF processing more efficiently, eliminating the need to depend on copious amounts of human input on a day-to-day basis.
Automation creates opportunities to maximize the value of existing staff. SPIFF management platforms streamline data collection and analysis so your workers can spend more time on tasks that contribute a larger return on investment. Instead of letting a resource shortage constantly leave your SPIFF processing operations falling behind, make the problem a solution and a chance to innovate. You can play a pivotal role in pushing the business forward and coming up with a long-term solution.
Modern channel management programs are making sophisticated functionality accessible from a price standpoint, creating a new resourcing perspective that you need to consider.