For every sale, salesmen are rewarded with an incentive. Tracking these sales is very important. It will help the organization give accurate incentives to the sales executives.
When the organization is small with less number of employees, this system can be easily implemented on a traditional relational database.
However, the problem arises when the organization is a spread across multiple cities across the globe. That is when we need to have a system which can operate at a global scale and the data in the system can be tracked easily.
We cannot remove the incentive system because incentives helps the sales executives to work efficiently and perform even better.
Thankfully, enterprise blockchains can help us solve this problem.
As stated in the previously, I intend to solve this problem with enterprise blockchain.
We can have a Key-Value pair implemented on the blockchain and that can solve this problem. Where key is the name of the executive and the value is the incentive earned by the salesman.
This can be further improved by using Autonomous Smart Contract code which will automatically calculate the incentive earned by the sales person. We can also have a concrete system in which if two sales person have collaborated for a deal, this smart contract code can split the incentive equally between this. Not only will this improve the transparency in the organization, but it will also promote healthy relationships among co-workers and help the whole organization prosper at scale.
Let me explain this with the following example:
- Let us say that we have two salesmen “A” and “B”.
- Both of them collaborate to close a 1000$ deal with a customer.
- We can have these salesperson enter the details of the sale and the coworker they have collaborated with in the UI system that will be designed with smart contract embedded at the backend.
- Let us say that as per the rules of the company 1% incentive goes to the salesman closing the deal.
- Here we have two representatives, so smart contract will equally split the incentive as 5$ for each.
- Finally the Key-Value Pairs are “A:5” and “B:5”.
This is how we can visualize an “Incentive tracking system” on a blockchain and this can be offered as a service with the help of cloud helping organizations prosper at scale.
The following quote motivated me to write this article:
“Blockchains are a new invention that allows meritorious participants in an open network to govern without a ruler and without money. They are merit-based, tamper-proof, open, voting systems. The meritorious are those who work to advance the network.”~Naval Ravikant
Thank you for reading my article.
This article comes under research work done at Wright State University’s SMART Lab under the guidance of Dr. Yong Pei.
Wright State University: https://www.wright.edu/
Department of Computer Science and Engineering : https://www.wright.edu/degrees-and-programs/profile/computer-science
Dr. Yong Pei : https://people.wright.edu/yong.pei