Generating Awesome Reports for Commission Management in NetSuite

Problem Statement

At the behest of our client, we were tasked with generating a Commission Summary Report to present a comprehensive snapshot of the commission earnings garnered by their sales team within a designated timeframe. This report had to include information on sales performance, commission rates, and earnings of each salesperson. Due to the complexity of their commission calculation and the presence of multi-tier commission metrics, they were unable to utilize the standard out-of-the-box report.  

The absence of this report would present significant challenges for our client. They would be unable to ascertain their monthly earnings or determine appropriate compensation for their sales team. Additionally, they would lack visibility into the proportion of their earnings designated for commission payments.  

At an individual level, they would be unaware of their specific earnings. Likewise, when evaluating at the organizational level, they would be unable to determine the optimal allocation of funds for employee commission payments. 

Solution

Our NetSuite experts provided valuable assistance to the client by devising a comprehensive solution for commission reporting. The recommended approach involved leveraging custom record and Suite script functionality. By implementing a user-friendly interface, the customer was able to easily access and view the commission earned by each salesperson. Furthermore, to facilitate tracking of sales performance and commission earnings for management or CFOs (Chief Financial Officers), our team proposed the creation of a customized Saved Search utilizing the custom record. This integrated solution ensured efficient and accurate monitoring of commission-related data across the organization.  

The client conveyed their preference for a solution that would not cause any disruptions to their existing process. Our experts suggested the implementation of custom records for the commission summary report, which also acts as backup for historic data.  

To ensure the integrity of the transaction record, our client’s commission was stored separately in a custom record, allowing for independent updates and avoiding potential issues during development.  

By providing our client with a Commission Summary Report, we are enabling them to track and analyze their sales performance. This optimizes their commission structures, identifies top performers and predicts future sales. Ultimately, it helps our client make data-driven decisions that drive their business forward.

Customer Success

Our involvement has resulted in numerous benefits for the client. Commission Reporting provides valuable information that helps businesses track and optimize their sales performance. This can lead to increased revenue and customer satisfaction. Other benefits include:

• Improved Sales Performance:By providing insight into sales performance, the report can help sales teams optimize their approach. This can lead to better results, such as increased sales and revenue, improving customer satisfaction.

• Increased Accountability: It also provides transparency into sales performance, which can increase accountability among sales team members. This motivates salespeople to work harder and be more productive, leading to improved customer success.

• Enhanced Accuracy:Manual commission calculations can be prone to errors, leading to discrepancies and disputes. By automating the process, the Commission Sales Report ensures accurate and consistent calculations, minimizing the risk of errors and improving overall financial accuracy.

Key Achievements  

• 98% Sales rep vice Sales data visibility.

• 95% Accuracy in calculation.

Way Forward

We ensure satisfaction by understanding client objectives, providing effective solutions as per the unique day-to-day requirements. Based on customer feedback, we are convinced that our collaboration has enabled them to achieve their goals, laying the firm foundation for future business growth and profitability.