Overview

This article will guide you through the process of setting up, calculating, and managing sales team incentives in iVendNext.

1. Introduction to Sales Team Incentives

Sales incentives are rewards or bonuses given to sales team members based on their performance. These incentives can be tied to various metrics such as total sales, individual contributions, or achieving specific targets. In iVendNext, you can automate the calculation of these incentives using custom scripts, making it easier to manage and track incentives across your sales team.

2. Setting Up Incentive Calculation in iVendNext

2.1 Custom Script for Incentive Calculation

iVendNext allows you to use custom scripts to calculate incentives for your sales team. These scripts can be tailored to your specific business requirements. Below is an example of a custom script that calculates incentives based on the total sales amount:

cur_frm.cscript.custom_validate = function(doc) {

    // calculate incentives for each person on the deal

    total_incentive = 0;

    $.each(wn.model.get("Sales Team", {parent:doc.name}), function(i, d) {

        // calculate incentive

        var incentive_percent = 2;

        if(doc.grand_total > 400) incentive_percent = 4;

        // actual incentive

        d.incentives = flt(doc.grand_total) * incentive_percent / 100;

        total_incentive += flt(d.incentives);

    });

    doc.total_incentive = total_incentive;

}

2.2 Key Components of the Script

• Incentive Percentage: The script sets a base incentive percentage (2%) and increases it to 4% if the total sales exceed a certain threshold (e.g., 400).

• Total Incentive Calculation: The script calculates the total incentive for each sales team member based on their contribution to the sales transaction.

• Automation: The script automatically updates the incentive amount whenever a sales transaction is saved, ensuring accuracy and efficiency.

3. Assigning Incentives to Sales Team Members

3.1 Adding Sales Team Members to Transactions

In iVendNext, you can assign sales team members to specific sales transactions. This allows you to track individual contributions and calculate incentives accordingly. To add a sales team member:

1. Navigate to the sales transaction (e.g., Sales Order, Delivery Note, or Sales Invoice).

2. In the Sales Team section, click on Add Row.

3. Select the sales team member from the list and specify their contribution percentage.

3.2 Contribution Percentage

If multiple sales team members are involved in a transaction, you can assign a contribution percentage to each member. The total contribution percentage must add up to 100%. iVendNext will automatically calculate the incentive for each team member based on their contribution.

4. Define Clear Incentive Policies

Before setting up incentives in iVendNext, it’s important to define clear and transparent incentive policies. This includes:

• Incentive Structure: Decide whether incentives will be based on total sales, individual contributions, or specific targets.

• Thresholds: Set thresholds for higher incentive percentages (e.g., 4% for sales above 400).

• Frequency: Determine how often incentives will be calculated and paid (e.g., monthly, quarterly).

5. Generating Incentive Reports

iVendNext offers built-in reporting tools to help you track and analyze sales team incentives. To generate an incentive report:

1. Navigate to Selling > Standard Reports > Sales Team Incentive Summary.

2. Select the date range and other filters as needed.

3. The report will display the total incentives earned by each sales team member during the specified period.