Sales performance management involves services that automate and integrate various sales operations. It is a data-driven approach focusing on planning and managing advanced analytics, forecasting, insights, standard reporting, and quota setting. The COVID-19 Pandemic has impacted the way we approach and perform tasks. It also brought changes to how sales interactions took place. The need to work remotely increased the demand for better sales performance management, contributing to the market growth.
The pandemic significantly increased digital penetration and automation worldwide, creating a suitable ecosystem for the adoption of sales performance management. As per the research published by SnapLogic in March 2021, 78% of businesses are likely to spend more on bringing automation to their operations because of the pandemic. Moreover, SPM helps in bringing cost and operational efficiency to work environments. All these factors are likely to drive the growth of the Sales Performance Management Market. However, there is still skepticism among small and medium enterprises about adopting SPM due to the costs and data privacy risks involved. This reluctance can hinder the market growth.
Many key players are adopting different strategies such as forming partnerships, mergers & acquisitions, and launching new products to serve the market demands and gain a competitive advantage against their rivals. In September 2020, Xactly launched an AI solution that helps in accurate sales forecasting, and the product also won the 2021 Big Innovation award. Other key players in the market include Oracle Corporation; Callidus Software Inc; SAP SE; Anaplan Inc; Salesforce Inc; Gryphon Network; Varicent, and NICE.
The market can be segmented based on industry vertical, which includes BFSI, consumer goods and retail, telecommunication, healthcare and pharmaceutical, telecommunication, IT, and energy. In industries such as BFSI, the role of SPM becomes more significant as they have a large number of sales data involving complex calculations. The ability of Sales Performance Management to handle such complex data encourages these sectors to adopt SPM Solutions.
The market can be further classified by Solution, which includes territory management, Incentive Compensation Management (ICM), sales planning and monitoring, gamification, sales performance analytics, and reporting; by services, including training and education, consulting, and support; by organization size including large, small, and medium-size enterprises; by deployment type which include on-premises and cloud. The market can be segmented into North America, South America, Europe, Asia Pacific, and Middle East and Africa.
By Industry Vertical
Consumer Goods and Retail
Healthcare And Pharmaceutical
Incentive Compensation Management (ICM)
Sales Planning and Monitoring, Gamification
Sales Performance Analytics and Reporting
Training And Education
By Organization Size
Small And Medium Enterprises (SMEs)
By Deployment Type
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