QuotaPath Plan Verification is live!
First, what’s Plan Verification?
Remember at the start of last year when you led your team through the new sales compensation plans? You addressed their questions. Then you followed up by trying to get every rep to sign off on their new comp agreements.
That’s Plan Verification.
This step shows that your reps understand how they get paid and creates alignment and transparency across the comp planning process. Plan Verification, and re-verification, should occur anytime someone makes a change to a comp plan. In our experience, these changes most frequently happen at the start of the year and again during mid-year adjustments.
Try QuotaPath for 30-days
Try the most collaborative solution to manage, track and payout variable compensation. Calculate commissions and pay your team accurately, and on time.
Try for FreeAt larger companies, leaders often administer comp plan verifications via DocuSign and store the agreements in Dropbox or Google Drive. Sometimes they sit in a saved email folder. Smaller companies usually run this similarly, in person, or not at all. (By the way, if you’re on a team that doesn’t have any Plan Verification in place, please start!)
The entire process can take weeks to reach 100 percent verification, is often manually tracked, and can induce headaches for those in charge.
Still, verifying your reps’ understanding of their comp plans is a necessary step. It gets your team to slow down, re-read their comp plans, and ask for clarity before signing. A clear understanding of rep’s comp plan agreements and how they are getting paid, leads to motivation and empowerment.
That’s why we’ve made it easier.
Introducing QuotaPath Plan Verification
With this feature, sales organizations can roll out new comp plans and collect rep signatures directly in QuotaPath.
Here’s how it works:
Through QuotaPath Plan Verification, admins can upload comp plan documents in our platform and distribute those plans to reps via email. As reps review and sign off that they understand the new comp plans, admins will be able to see verification completion statuses directly from the Plans page view. All verified plans will be stored and accessible in the platform with the option to print or download as needed.
By verifying your comp plans within QuotaPath:
- Save time and simplify the Plan Verification process
- Strengthen rep understanding of comp plans
- Create more transparency around commission payments
- Lean on one system for entire workflow
- Receive automatic updates as reps complete verification
- Easily re-administer as compensation plans change
We love a streamlined workflow and think you will too.
For more information on QuotaPath’s Plan Verification feature and sales compensation software, chat with a team member today.
