By Keiter CPAs
How Can I Make Sales Bonuses More Fair?
Data Science can help you achieve your business goals with tailored advice specific to your organization. Learn more about how Keiter Data Solutions solved a similar problem for one of our clients in the below case study.
Challenge and Opportunity
A company was seeking a way to better allocate performance bonuses to its employees that considered areas of high and low volume, percentage of increased sales, and location profitability.
Approach
- The customer had an outdated structure for measuring sales and performance data of its employees. They struggled to balance overall region volume with improvements the sales force had made in historically lower volume or less profitable regions.
- Using Microsoft Power BI, we were able to clean up and integrate information for all of the customer’s employees into one central database.
- The database provided the customer with essential information about each employee such as volume of sales made, customer acquisition, etc.
Results
The new database provided the customer with the information needed to create a more equitable and performance-based bonus structure.
Learn More about our Innovative Data Solutions Services
About the Author
Keiter CPAs
Keiter CPAs is a certified public accounting firm serving the audit, tax, accounting and consulting needs of businesses and their owners located in Richmond and across Virginia. We focus on serving emerging growth businesses and companies in the financial services, construction, real estate, manufacturing, retail & distribution industries and nonprofits. We also provide business valuations and forensic accounting services, family office services, and inbound international services.
More Insights from Keiter CPAsThe information contained within this article is provided for informational purposes only and is current as of the date published. Online readers are advised not to act upon this information without seeking the service of a professional accountant, as this article is not a substitute for obtaining accounting, tax, or financial advice from a professional accountant.
