Approve a New Compensation Plan

Owned by Ioana Kocurova
Last updated: Sept 09, 2024
2 min read

Let's explore how you can approve a new compensation plan. Before you move on, make sure that you have all the required permissions to perform this task.

Some of our screens may look different as, for the purposes of this tutorial, we are in a demo environment. This should not deter you from understanding how the system works.

Workflow

You can check the status of your new compensation plan by following the Workflow tab. In most cases there is another person, usually of seniority who approves the plans. However, for the purposes of this tutorial, you will see how approvals are done, if you had the permission to do so.

Approving a New Plan

Whether you approve/ reject a plan, you can add a comment or a reason, then click Submit. After this step, the system will display a confirmation message and the status will shift from submitted to Approved in the workflow.

Once the approval process has been completed, no changes are further allowed.

Finding Information on Sales Compensation

The sales compensation information will be displayed in the Quoting capability Quotes. Here Sellers can see how far or close they are to reach their targets and get the incentives result values. You can find this information in the calculation section on the right side of the products quote.

Visualise Sales Compensation in Quotes

If you want to see the Sales Compensation in formation in Quotes, you must make sure that in the master data Sellers table, you select your Pricefx User Account, so the information can be fed into the Quoting module and then you can look up your seller’s information there. To see the data, you hit Recalculate. This will display the estimated Compensation for that specific seller and in more detail in the righ-side box below the pie chart. It will also include any adjustments that might have been made.