Gartner recently released a new “Magic Quadrant for SPM” report, its annual overview of SPM solution providers and relevant market trends. As Gartner points out, we are now moving into a new era in sales planning tools, beyond SPM point solutions and toward “SaaS-based systems that link related processes such as quota and territory management into a single operational system.”
What’s in an SPM solution?
SPM encompasses a wide range of sales-related activities, including incentive compensation management, territory management, and objective/quota management. You might be asking, all integrated into just one system? That’s right. According to Gartner, getting a full range of interconnected functions is what it takes to bridge your go-to-market plans to their execution at the territory and representative levels.
Where do I start?
Many companies are taking baby steps, adopting one or two components at a time as they move toward fully connected, data-driven sales operations. A survey of Gartner clients reveals:
- Seventy-one percent are using incentive compensation management components.
- Thirty-eight percent are using sales appraisal and evaluation functionality.
- Thirty-one percent are using quota and objective setting.
- Twenty-two percent are using territory management functionality.
- Eighteen percent are using coaching systems.
- Eleven percent are using learning or training functionality.
- Nine percent are using hiring and onboarding functionality.
- Two percent are using gamification.
As Gartner’s findings show, SPM solution rollouts are gaining steam, making this the perfect time to better understand what various vendors have to offer—right now and in the near future—and the essentials of choosing a solution that moves your entire business forward.
What to look for?
Here are some practical recommendations for making sure you are investing your resources wisely:
- Find a fast solution that delivers immediate results: Whatever the feature or function you choose to launch with, it has to start paying off right away. To ensure this, find a solution that that comes with a comprehensive rollout strategy, and process recommendations relevant to every type of user on the system.
- Find a solution that’s comprehensive and collaborative: While you may start out with just one or two functions, the power of an SPM solution is its ability to link together every sales driver and provide a continual, comprehensive view of your entire sales operation. Find a solution that provides a roadmap for getting there.
- Find a solution that shows you your options: SPM systems are put in place to help you make better decisions. Find one capable of creating multiple planning scenarios and what-ifs models so you can create the best possible plan.
Anaplan named visionary
So where does Anaplan fit into this picture? Gartner has positioned Anaplan in the Visionary Quadrant, based on our ability “to coordinate and unify companywide financial, marketing, sales and operational plans.” Gartner highlights Anaplan’s unique approach to providing lighting-fast performance and the appeal of Anaplan App Hub with its crowdsourced models, templates, and applications.
As a next step on your SPM journey, sign up for our upcoming webinar, The art and science of sales performance, to drive better performance with smarter sales quotas.