What is SAP ICM?
For any industry,productivity of labour is very important. Since labour is the building block for any industry.
Growth of an industry dependends upon the utilization of a labour.
Incentive plans and variable compensations plays the major role in attracting and retaining the talent of the labourers.
SAP ICM which means SAP INCENTIVE COMMISSION MANAGEMENT is a driving tool which helps the industries to meet the current challenges.
What is a Commission?
It is wage given to a broker or a partner because of the services offered to the industry.
Eg:Lets in a telecom industry if the sales partner is successful in selling a mobile,he will be paid with the agreed commission for that particular service.
What is an Incentive?
Incentive in other words can be called as bonus. These can also called as addional commissions paid to the sales partner by comparing the results achieved with the predefined objectives.
Eg:Lets in an automobile industry there was a goal set for selling 100 cars in a year,if the sales partner is able to meet this challenge,he will be paid with special commission called incentives or bonus.
Why SAP ICM?
Its basically an analysis tool provided by SAP.
It gives clear picture of the target achieved for specific cost setup for a manager and also for the sales partner in terms of earned and expected compensation.
Its a easy flexible tool to achieve the above challenges for any kind of industry.
IS SAP ICM only tool?
No, SAP ICM is not the only tool,it also has competetors from other vendors but SAP ICM has continuous development giving the technical feasibilties to meet the industry challenges.
How SAP ICM born?
SAP ICM is developed from FS-CS(Financial services -Commission System) by 4 clients with SAP.
Easily SAP ICM can be integrated with CRM,HCM and it also can be integrated with reporting tools like BI. Recent upgradations also made this tool a process based one by introduction Workflows in SAP ICM.
- Master Data : Business Partner
- Business Data Toolset (Contracts)
- Archiving : (Business Document Navigator,Archive Link,Archive Development Kit)
- Data import : Batch,Direct Input,RFC
- Business Application Log (Messages)
- Managers Desktop and Workplace
- Business Transaction Events
In my next blog we will see the body parts of ICM.