vimiSales Formula and Method Types
- Happy Marine VIMIGO
- Jun 20, 2024
- 5 min read
Updated: Jun 21, 2024
Download File:
vimiSales Manual Guide
(Type of vimiSales Formula & Method Type)
Guideline:
Type of Formula
vimigo Commission
Using the following vimiSales setting as an example:
To calculate the total reward, the formula is (TARGET ( $ ) * REWARD ( % ))
If Employee A hits the target of
M1 ($10,000 * 1%) = $100
M2 ($20,000 * 2%) = $400
M3 ($30,000 * 3%) = $900
M4 ($40,000 * 4%) = $1,200
M5 ($50,000 * 5%) = $2,500
FAQ
1. What if employee A achieved total sales of $55000 which is over M5? What will be his/her total rewards?
Ans: First, find the difference between total sales & m5 sales = $55,000 - $50,000 = $5,000.Then, the calculation will be (M5 rewards + ($5,000*5% = $250)) = $2,750 total rewards.
2. Why are there additional rewards for employees who overachieved their maximum sales target?
Ans: This will motivate the employees to achieve more which will benefit both for the employer and the employees. If the employees do not receive any additional rewards after achieving M5, they will most likely stop performing any additional sales due to already receiving the maximum amount of rewards once reached M5.
Traditional Commission
Using the following vimiSales setting as an example:
To calculate the total reward, the formula is (TARGET ( $ ) * REWARD ( % ))
If Employee A hits the target of
M1 ($10,000 * 1%) = $100
M2 ($20,000 * 2%) = $400
M3 ($30,000 * 3%) = $900
M4 ($40,000 * 4%) = $1,200
FAQ
1. Can traditional commissions achieve more than the mission? What if employee A achieved total sales of $55000 which is over M5? What will be his/her total rewards?
Ans: First, find the difference between total sales & m5 sales = $55,000 - $50,000 = $5,000. Then, the calculation will be (M5 rewards + ($5,000*5% = $250)) = $2,750 total rewards.
2. Why there are additional rewards for employees who overachieved their maximum sales target?
Ans: This will motivate the employees to achieve more which will benefit both for the employer and the employees. If the employees do not receive any additional rewards after achieving m5, they will most likely stop performing any additional sales due to already receiving the maximum amount of rewards once reached M5.
Accumulative Commission
Using the following vimiSales setting as an example:
To calculate the total reward, the formula is (TARGET ( $ ) * REWARD ( % ))
If Employee A hits the target of
M1 ($100,000 * 0.5%) = $500
M2(M1 reward) + (M2 - M1 target * 1%)= $500 + $200 = $700
M3(M2 reward) + (M3 - M2 target * 1.5%)= $700 + $300 = $1,000
M4(M3 reward) + (M4 - M3 target * 2%)= $1,000 + $800 = $1,800
FAQ
1. What if Employee A achieved over M4 ($200,000 total sales)?
Ans: The calculation will be
(M4 reward) + (sales figure - M4 target * 2.5%)
= $1,800 + $500 = $2300
2. What is Employee A achieved sales figure which is in between of M4 and M3? ($155,000)
Ans: The calculation will be
(M3 rewards) + (sales figure - M3 target * 2%)
= $1,000 + $300 = $1300
vimigo Reverse Commission
similar to Traditional Reverse commission calculation.
The only difference here is that vimigo Reverse commission calculation does not count the difference in mission, unlike traditional Reverse commission calculation.
Use case:
The construction project company set their renovation project for 30 days.
Using the following vimiSales formula.
Scenario 1:
If the employee completes the construction after day 30, he/she will receive no reward/0$ reward.
Scenario 2:
If the employee completes the construction by day 30, he/she will receive a 100$ reward.
Scenario 3:
If the employee completes the construction by day 25, he/she will receive 200$ reward.
Scenario 4:
If the employee completes the construction by day 20, he/she will receive 300$ reward.
FAQ
1. What if the employee completes the construction on day 27th? (Above M1 & below M2)
Ans: The employee will still receive the M1 rewards (100$)
2. What if the employee completes the construction in less than 20 days?
Ans: The employee will still receive M3 rewards (300$).
Traditional Reverse Commission
Use case:
The construction project company set their renovation project for 30 days.
Using the following vimiSales formula.
Scenario 1:
If the employee completes the construction after day 30, he/she will receive no reward/0$ reward.
Scenario 2:
If the employee completes the construction by day 30, he/she will receive a 100$ reward.
Scenario 3:
If the employee completes the construction by day 25, he/she will receive 200$ reward.
Scenario 4:
If the employee completes the construction by day 20, he/she will receive 300$ reward.
FAQ
1. What if the employee completes the construction on day 27th? (above M1 & below M2)
Ans: The employee will receive M1 rewards + the reward difference between M1 & M2
Calculation:
M2-M1 = 5 days - M2-M1 rewards = 100$
100$/5 days = 20$ per day
M1 rewards + (3 days = 60$) = 160$ total rewards if completed on day 27th.
2. What if the employee complete the construction lesser than 20 days?
Ans: The employee will still receive M3 rewards (300$).
Diamond Formula
Using the following vimiSales setting as an example:
The diamond reward amount will be based on the mission/target achieved
If Employee A hits the target of
Below M1 (less than $1000 = 10 diamonds)
M1 ($1000 = 20 diamonds)
M2 ($2000 = 30 diamonds)
M3 ($3000 = 40 diamonds)
FAQ
1. What if employee A achieved total sales of $3500 which is over M3? What will be his/her total rewards?
Ans: Employee A will still be receiving 40 diamonds and no additional diamond rewards for achieving over the highest mission (M3).
2. What if employee A achieved total sales of $2500 which is between M2 & M3? What will be his/her total rewards?
Ans: Employee A will be receiving 30 diamonds (M2 reward) as diamonds will only be rewarded when achieved the mission.
Method Type
1. Update Total
The 'Update Total' method means the new amount will overwrite the current sales amount.
Example: I updated RM 1,000 in sales in the morning. Later in the afternoon, I updated RM 2,500 in sales again. On my ‘current sales achievement,’ it will show RM 2,500 as this is the latest sales update.
2. Update Accumulative
The 'Accumulative' method means the new amount will keep adding to the current sales amount.
Example: I updated RM 10,000 in sales in the morning. Later in the afternoon, I updated RM 2,500 in sales again. On my ‘current sales achievement,’ it will show RM 12,500.
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