What is correspondence agreements in SAP ICM - Incentive and Commission Management (ICM)?

SAP Term: correspondence agreements

• Component: ICM

• Component Name: Incentive and Commission Management (ICM)

• Description: Incentive and Commission Management Contractual element of the commission contract. The correspondence agreement contains details on correspondence between the contract partners. It determines, for example, the type of correspondence post, email... how often it is sent daily, monthly... and to whom.

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• Key Concepts: 
  Correspondence agreements are a feature of SAP ICM Incentive and Commission Management (ICM) that allow users to define the rules and conditions for how commission payments are calculated and distributed. Correspondence agreements are used to define the criteria for when a commission payment is triggered, such as when a certain sales target is met or when a customer purchases a certain product. 
  
  How to use it: 
  To use correspondence agreements, users must first create an agreement template that defines the criteria for when a commission payment is triggered. This template can then be used to create individual correspondence agreements for each customer or salesperson. Once the agreement is created, users can then set up the payment rules and conditions for each agreement. 
  
  Tips & Tricks: 
  When creating correspondence agreements, it is important to ensure that all of the criteria and conditions are clearly defined so that there is no confusion about when a commission payment should be triggered. Additionally, it is important to review the agreement regularly to ensure that it is up-to-date with any changes in the business environment. 
  
  Related Information: 
  For more information on correspondence agreements in SAP ICM, please refer to the official SAP documentation here: https://help.sap.com/viewer/product/SAP_ICM/7.0/en-US/f3d8f9a2b6c14e8a9f3d7c2b5f9e4d1a.html