Sales Performance Management Market was valued at USD 2210 million in 2017 and is expected to reach a value of USD 4629 million by 2023 at a CAGR of 13.09%, over the forecast period, 2018-2023. The scope of the report is limited to type solution, services, solution including incentive compensation management, territory management, sales monitoring and planning, sales analytics, and others, deployment including on-premise and cloud, services, such as professional services and managed services, and end-user vertical including BFSI, manufacturing, energy and utility, healthcare, and others. The regions considered in the scope of the report include North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The study also emphasizes the benefits of sales performance management in accordance with diverse application and future prospect of the same.
Sales performance management is utilized by various organizations to reduce processing time and error at a significant rate. SPM provides tools and information required by the sales representatives (ensures efficiency and accuracy). USD 1.4 million was saved through 90 reductions in overpayments with incentive compensation management tools. It also resulted in achieving 204% ROI. The increasing need for accurate measurement and tracking of sales metrics, early adoption of the technology, and mitigation for IT staff are expected to drive the sales performance management market growth, during the forecast period. Furthermore, the organizations are increasingly eliminating the idea of using complicated excel spreadsheets to manage the sales performance.
Demand for Improved Sales Channel and Performance
Businesses are relied on homegrown software’s and spreadsheets to manage sales performance. This approach might have been the only choice in the past, but it’s no longer viable in the era of Omni-channel sales channels, mobile sales teams, and intensified competition with the enormous growth in the size and complexity of sales channels. In the world of digital era, manual methods aren’t sufficient to operate at a digital speed, as they do not address the complexities of sales enterprises leading to the increased demand for improved sales channels.
Incentive Compensation Management to Exhibit the Highest Growth
Incentive compensation management system helps in tracking the sales performance by each individual. Further, it also analyzes the alignment of team’s performance with the sales strategy, which is expected to bolster the market growth. The system offers dashboard, wherein the manager can view the reporting and analytics to which one can take decisions and roll out incentive pay in an easier way.
Asia Pacific to Witness the Highest Growth
In India, the Department of Telecommunications (DoT) has approved telecom service providers to issue 13-digit numbered SIM cards for encouraging several commercial IoT applications based on the cellular network. This scenario is expected to increase competition in the telecom vendors potentially leading to high demand for SPM. Apart from intense manufacturing and retail, the region also has considerable demand from BFSI sector. In countries, like India, China, and Japan, the banking and insurance sectors are far more superior to developed countries.
Key Developments in the Market
- December 2017 - Callidus Software Inc announced today that GVA has selected Datahug by CallidusCloud to complement its CRM implementation across the business. The agreement was completed in the third quarter of 2017
- September 2017 - Oracle unveiled its first Autonomous Database Cloud. Oracle Autonomous Data Warehouse Cloud is expected to be have Demonstrated Performance of 10x Faster at Half the Cost of Amazon
The major companies include - Callidus Software, Oracle Corporation, IBM Corporation, Xactly Corporation, SAP SE, Salesforce.com, Inc., Globoforce , Optymyze, CDK Global, NICE Ltd., Anaplan, Inc., BEQOM SA, Iconixx, Incentives Solutions, Axtria, Oberoa, and PERFORMIO among others.
Reasons to Purchase this Report
- The future prospect of the sales performance management market and opportunities
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- Regional analysis of the market
- Identifying the latest developments, market shares, and strategies employed by the major market players
- 3-month analyst support, along with the Market Estimate sheet (in excel)
Customization of the Report
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1.1 Scope of the Study
1.2 Executive Summary
2. Research Approach and Methodology
2.1 Study Deliverables
2.2 Study Assumptions
2.3 Analysis Methodology
2.4 Research Phases
3. Market Analysis
3.1 Market Overview
3.2 Porter's Five Industry Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products or Services
3.2.5 Competitive Rivalry among Existing Competitors
4. Market Dynamics
4.2 Factors Driving the Market
4.2.1 Demand for Improved Sales Channel and Performances
4.2.2 Increasing Demand for Sales Mobility
4.3 Factors Challenging the Market
4.3.1 Lack of Awareness and Altering Organizations Structure
5. Technology Snapshot
6. Global Sales Performance Management Market Segmentation By Solution
6.1 Incentive Compensation Management
6.2 Territory Management
6.3 Sales Monitoring & Planning
6.4 Sales Analytics
7. Global Sales Performance Management Market Segmentation By Deployment Type
8. Global Sales Performance Management Market Segmentation By Services
8.1 Professional Service
8.2 Managed Service
9. Global Sales Performance Management Market Segmentation By End-user Vertical
9.3 Energy & Utility
10. Global Sales Performance Management Market Segmentation By End-user Vertical By Geography
10.1 North America
10.4 Latin America
10.5 Middle East & Africa
11. Competitive Intelligence – Company Profiles
11.1 Callidus Software
11.2 Oracle Corporation
11.3 IBM Corporation
11.4 Xactly Corporation
11.5 SAP SE
11.6 Salesforce.com, Inc.
11.9 CDK Global
11.10 NICE Ltd.
11.11 Anaplan, Inc.
11.12 BEQOM SA
11.14 Incentives Solutions
*List is Not Exhaustive
12. Investment Landscape
13. Future of the Market