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How to use or fill out the 04 - SaaS Sales Compensation Guide (v2.7).pub - Keychain Logic online
This guide provides users with clear, step-by-step instructions on how to effectively fill out the 04 - SaaS Sales Compensation Guide (v2.7) online. Whether you are familiar with compensation plans or a newcomer, this comprehensive guide will assist you in navigating the document with ease.
Follow the steps to fill out the form online.
- Press the ‘Get Form’ button to access the guide and open it in the appropriate editor.
- Begin by reading through the introductory sections to understand the objectives of the sales compensation plan and the purpose of the guide.
- Fill out the section titled 'Establishing the Compensation Plan’s Foundation' by defining business goals that link to sales performance.
- Move to the 'Defining the Plan’s Critical Components' part. Here, include specific details on commissionable events and when those commissions are earned.
- Complete the 'Revenue & Commissionable Events' section. Clearly differentiate types of revenue and their corresponding commission structures.
- Proceed to 'Plan Documentation & Agreement,' ensuring each team member's agreement is properly signed and acknowledged.
- Review the 'Compensation Administration' section to outline how commissions will be recorded, tracked, and reported.
- Ensure that the guide is saved by using the save feature in the editor, enabling you to revisit or share the document later.
- Finally, download the completed guide, print it for physical records, or share it with relevant stakeholders as needed.
Start filling out your document online today to accelerate your sales compensation strategy.
Variable pay, or pay for performance, is considered a good commission model for SaaS sales wherein a sales representative receives extra money on their salary. For SaaS sales, the standard commission rate is around 10%. So, for example, if a rep closes a $10,000 deal, they will receive a $1000 commission.
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