Inquiry Management: The process begins with managing inquiries from customers. These inquiries could be requests for product information, pricing details, or general queries about products or services.
Quotation Generation: Upon receiving inquiries, the system facilitates the generation of quotations. Quotations include pricing details, product specifications, delivery terms, and any special instructions or terms agreed upon. Customers review and consider the offer before making a decision.
Sales Order Creation: Once a quotation is accepted by the customer, it is converted into a Sales Order. The Sales Order captures details such as customer information, ordered items, quantities, pricing, delivery dates, and any special instructions or terms agreed upon.
Order Tracking: Throughout the order fulfilment process, the system tracks the status of Sales Orders. This includes monitoring the progress of production activities, allocating resources, tracking work-in-progress, and ensuring timely completion of orders.
Production Planning and Control: For Sales Orders that involve manufacturing processes, the system assists in production planning and control. It helps optimize production schedules, allocate resources, track work-in-progress, and ensure timely completion of orders.
Inventory Management: The system keeps track of inventory levels for finished goods. It updates inventory quantities based on Sales Orders, allowing for efficient inventory management and replenishment.
Shipping and Delivery: Once production is complete, the system facilitates the shipping and delivery process. It generates shipping documents, coordinates logistics, and provides visibility into shipment status for timely delivery to customers.
Invoicing and Payment: Upon successful delivery of goods or completion of services, the system generates invoices for customers based on Sales Orders and records accounts receivable. It manages accounts receivable and ensures timely invoicing and payment processing.
Order Completion and Reporting: Once orders are fulfilled, the system marks them as completed and provides comprehensive reporting and analytics. This includes tracking order fulfilment metrics, analyzing sales performance, and identifying areas for improvement.
By seamlessly managing the Sales Order process from inquiry to order fulfilment, the ERP11 system ensures efficient order processing, enhances customer satisfaction, and drives overall business success.
Sales Commission : Flexibility for Every Commission Type
The ERP11 Sales Commission Module is your go-to solution for managing any type of sales commission structure, whether it’s straightforward or intricate. Designed for versatility, this module seamlessly handles everything from basic percentage payouts to complex tiered systems and performance bonuses. Here’s a closer look at its key features, illustrated with easy-to-understand examples.
Key Features and Examples:
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Percentage-Based Commissions:
- How It Works: This straightforward approach rewards salespeople with a set percentage of each sale they make.
- Example: Imagine a footwear company that gives its sales team 5% of the sale price for every pair of shoes sold. If a salesperson sells a pair for $100, they earn $5. ERP11 automatically calculates this commission for each sale and sends the payment details directly to the HR & Payroll Module for processing. This means sales reps are paid accurately and on time, every time!
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Tiered Commissions:
- How It Works: In this system, the commission percentage increases based on the total sales volume achieved by the salesperson.
- Example: Consider a real estate company that offers tiered commissions: 3% on sales up to $1 million, 5% on sales between $1 million and $5 million, and 7% on sales over $5 million. If a salesperson sells properties totaling $2 million, they would earn 3% on the first million and 5% on the next million. ERP11 tracks each agent’s sales and automatically calculates the right commission tier, ensuring that salespeople are rewarded fairly for their hard work.
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Target-Based Bonuses:
- How It Works: Sales reps can earn extra bonuses for meeting or exceeding specific sales targets.
- Example: Imagine a pharmaceutical company that offers bonuses to sales representatives who reach or surpass their quarterly sales goals. If a rep’s target is $200,000 in sales and they achieve $250,000, ERP11 recognizes this success and automatically triggers the bonus payout, updating the HR & Payroll systems accordingly. This motivates sales teams to strive for their targets!
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Referral Commissions:
- How It Works: This program rewards existing customers or partners for bringing in new sales.
- Example: A jewelry company has a referral program where existing customers earn a 2% commission for every sale they refer. If a customer refers a friend who buys a $500 necklace, the referring customer earns $10. ERP11 tracks these referrals and ensures that each person receives their commission, fostering customer loyalty and engagement.
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Multi-Tier Sales Commission:
- How It Works: This complex structure allows managers to earn commissions based on both their own sales and the sales of their team members.
- Example: A healthcare device company implements a multi-tier commission system where a top-level manager earns commissions not only on their own sales but also on the sales generated by their team. For instance, if the manager sells $100,000 worth of products and their team sells another $300,000, ERP11 automatically calculates the commissions across multiple levels, ensuring that everyone is compensated fairly and accurately.
The ERP11 Sales Commission Module makes managing commissions straightforward and efficient, allowing businesses to focus on what they do best: selling! With its robust features and automatic calculations, this module helps ensure that your sales team is motivated and rewarded for their efforts, driving your business’s success.