Generating Stellar Reports in NetSuite for Commission Management
Client Portfolio
Jobin & Jismi was approached by a renowned home appliances company to compile a commission summary report, offering a comprehensive outline of the commission income accrued by the sales team over a specified duration. This firm is known for offering exceptional customer service at reasonable costs. They have achieved significant success in northern California, boasting a range of over 80 brands and hundreds of appliances on display.
The company is the ultimate destination for all home appliance needs. They offer personalized buying experiences and the fastest delivery and installation services. Appliances can be conveniently delivered, and ongoing support is provided to customers.
Problem Statement
At the behest of our client, we have been 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 for 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 commission report. Therefore, they approached us for a customized 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 customer 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 gained the ability 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 solution experts 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 customer 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 backups 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 will optimize their commission structures, identify top performers, and forecast future sales. Ultimately, it will help our client make data-driven decisions that drive their business forward.
Customer Success
Effective business planning and customer interaction are both essential for a successful organization, and our involvement has resulted in numerous benefits for the client.
The Commission Sales Report provides valuable information that helps businesses track and optimize their sales performance, which can lead to increased revenue and customer satisfaction. Our assistance has enabled the client to achieve:
• Improved Sales Performance: By providing insight into sales performance, the Commission Sales Report can help sales teams optimize their approach. This can lead to better results, such as increased sales and revenue, which can improve customer satisfaction.
• Increased Accountability: The Commission Sales Report provides transparency into sales performance, which can increase accountability among sales team members. This can motivate 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
Ultimately, the Commission Summary Report had a significant impact on the client’s business by providing valuable insights into sales performance and commission earnings. By analyzing the report data, the client identified trends, strengths, and weaknesses in their sales process. This allowed them to make data-driven decisions to improve sales performance and increase revenue.
