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What is OTE salary? Calculation + Examples

When sales reps go job hunting, they want to know how much they can earn in a particular role if they hit all their targets. Similarly, if companies want to attract the right talent, they need to include OTE in their job listings—something juicy enough to draw reps in

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How to calculate commissions on QuickBooks?

Are you using QuickBooks for your business accounting but struggling to calculate commissions for your sales team or employees?  Unlike commission calculation software, QuickBooks doesn’t have built-in features for commission calculations.  However, fear not! With a few simple steps and the right approach, you can efficiently calculate commissions on

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How to calculate commissions on Xero?

Learn how to calculate commissions on Xero software.

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What is Management by Objectives and the process of MBO? Is it relevant in 2024?

Ambiguity is the arch-nemesis of corporate success. In competitive markets, businesses cannot operate based on rough estimates and guesses. It is imperative to have clearly defined objectives in place to help the leadership and departmental teams plan their course of action. This is where the process of MBO comes to

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ElevateHQ Wraps Up 2023 Winning Multiple Badges from Gartner Digital Markets

Exciting news is in the air as ElevateHQ has soared to new heights, clinching not one but two prestigious badges in the 2023 Gartner Digital Markets awards!  We have got Capterra Best Value Badge and Ease Of Use Badge for: * Compensation Management Category * Sales Performance Management Category These badges are

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ElevateHQ: An Excellent Alternative to Performio

Executive Summary: This article compares ElevateHQ and Performio, two prominent players in the sales compensation management arena.  It evaluates critical aspects, including: * Setup time. * Commission plan designer. * Reports. * Commission simulation. * Notifications. * Dedicated support. Selecting the right sales commission tool can significantly impact the efficiency and success of your sales operations.

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ElevateHQ vs. Oracle SPM: Exploring the Ultimate Alternative

Executive Summary: This article provides a thorough comparison between ElevateHQ and Oracle SPM, both significant contenders in the sales compensation management domain. It assesses vital components such as: * Setup time * User-interface * Commission plan designer  * Notifications * Integration * Dedicated support Selecting the right sales commission tool can significantly impact the efficiency and

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ElevateHQ: The Modern Alternative to SAP Commissions

Executive Summary: This article aims to provide an exhaustive exploration of both ElevateHQ and SAP Commissions, assessing critical aspects that include: * Setup time. * Commission plan designer. * User-interface. * Workflow. * Reports and dashboard. * Tool integrations. * Dedicated support. Selecting the right sales commission tool is a strategic move that significantly impacts the efficiency

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Understanding Pharma Sales Reps: What Motivates Them and How to Drive Sales Performance

Executive summary:  Pharma sales reps connect medical products with healthcare providers, bridging the gap between life-saving medications and the professionals who prescribe them.  We’ll explore the responsibilities: product persuasion, building relationships, finding market insights, delivering sales presentations, record-keeping, and product training. Then, we’ll move on to the factors

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When is Sales Commission Legally Earned?

Executive Summary: This article dives into the intricacies of when sales commissions are legally earned, shedding light on: * Commission agreements. * Key legal principles that affect commission payouts. * The impact of termination and resignation. * The laws regarding commissions. Sales commission is an important component of any compensation package. It works as

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NBRx in Incentive Plans - Is it a good idea?

Executive summary: NBRx in incentive plans is a good idea. But it can’t be the only component - it must complement TRx and NRx. Read on to find out more! New-to-brand prescription, or NBRx, is a new metric that provides unmatched insights into patient prescription behaviors. NBRx considers all

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5 Tips To Run Tight Sales Contests

Executive summary: Five tips for running tight sales contests: * Keep it simple * Involve your team in the planning * Give regular updates and keep the highest possible visibility * Keep your word * Hand out prizes ASAP We've all been there – the adrenaline rush of hitting those targets, the thrill of

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Sales metrics for high-functioning teams

Executive summary: Sales metrics can be divided into three categories: * Company-wide metrics * Sales function and processes metrics * Sales rep performance metrics "You can't manage what you don't measure" – this old saying still holds its weight, especially for high-functioning sales teams like yours. You'

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How to calculate sales pipeline coverage

Executive summary: Pipeline coverage = Total sales pipeline/Total quota for the same time period But what’s the optimal ratio here? Read on to find out. Sales teams pay attention – this is your ticket to quota-crushing success. Think of it this way: your pipeline is your offensive line, and you&

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Optimizing Pharma Sales Force Effectiveness: 8 Strategies for Success

Executive summary: This article explores 8 essential strategies to help pharmaceutical companies maximize their sales force effectiveness. They are: * Align metrics with organizational priorities. * Focus and consistency through data. * Develop effective habits. * Understand target expectations for competitive advantage. * Build an automated and flexible management solution. * Focus on average performers. * Empower

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Role and responsibilities of an Area Sales Manager in Pharma

ASMs in the pharmaceutical realm shoulder a pivotal responsibility that navigates the complexities of sales, client relationships, and market dynamics. As orchestrators of business growth, they are tasked with an array of responsibilities that span from strategic engagement to analytical insights. In this article, we’ll take an in-depth look

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How to Train Your Pharma Sales Team

Executive summary: This guide delves into a holistic training strategy that not only encompasses product knowledge but also incorporates cutting-edge tactics. They are: * Harness clinical data for convincing claims. * Use a customer-centric sales approach. * Provide the right tools. * Equip your pharmaceutical sales team. * Embrace the power of virtual selling. * Unlock

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Structure a Sales Team for Pharma Sales in 10 Easy Steps

Executive Summary: This comprehensive guide unveils a step-by-step approach to crafting an efficient and effective pharmaceutical sales team. The steps are as follows: * Analyze the key factors influencing sales team structure. * Design an effective team structure. * Allocate resources. * Develop specializations. * Promote cross-functional collaboration. * Implement training and development. * Set clear goals

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Tired of running your commissions on spreadsheets? Afraid of switching because it may be too costly, or time consuming? Well, allow us to take care of all that and more.