What is acquisition commission in SAP ICM - Incentive and Commission Management (ICM)?

SAP Term: acquisition commission

• Component: ICM

• Component Name: Incentive and Commission Management (ICM)

• Description: Incentive and Commission Management Remuneration for when an insurance contract is concluded for the first time. The right to receive acquisition commission is subject to payment of the premium by the policyholder §§87, 92 HGB German Commercial Code.

Smart SAP Assistant

• Key Concepts: 
  Acquisition commission is a type of commission that is paid to sales representatives for acquiring new customers. It is a part of the Incentive and Commission Management (ICM) component of SAP. ICM is a comprehensive solution for managing sales incentives, commissions, and other rewards. It enables companies to track and manage sales performance, calculate commissions, and pay out rewards. 
  
  How to use it: 
  The ICM component of SAP allows companies to set up acquisition commission plans for their sales representatives. Companies can define the criteria for awarding acquisition commissions, such as the number of new customers acquired or the total value of new business. The ICM component also allows companies to track and manage sales performance, calculate commissions, and pay out rewards. 
  
  Tips & Tricks: 
  When setting up an acquisition commission plan, it is important to consider the criteria for awarding the commission. Companies should also consider how often they will pay out the commission and how much they will pay out. Additionally, companies should ensure that their sales representatives are aware of the plan and understand how it works. 
  
  Related Information: 
  For more information about the ICM component of SAP, please visit https://www.sap.com/products/incentive-and-commission-management.html. Additionally, you can find more information about setting up an acquisition commission plan in the SAP Help Portal at https://help.sap.com/viewer/product/SAP_ICM/7.0/en-US/f8d9f3c2b6a14e8a9f3d7c2b6a14e8a9f3d7c2b6a14e8a9f3d7c2b6a14e8a9f3d7c2b6a14e8a9f3d7c2b6a14e8a9f3d7c2b6a14e8a9f3d7c2b6a14e8a9f3d7c2b6a14e8a9f3d7c2b6a14e8a9f3d7c2b6a14e8a9f3d7c2b6a14e8a9f3d7c2b6a14e8a9f3d7c2b6a14e8a9f3d7c2b6a14e8aa/.