What is elementary valuation in SAP ICM - Incentive and Commission Management (ICM)?

SAP Term: elementary valuation

• Component: ICM

• Component Name: Incentive and Commission Management (ICM)

• Description: Incentive and Commission Management A global documentation of the value added to a business object such as an insurance policy by a particular business transaction. The elementary valuation is triggered when changes are made to the business object. As well as providing a chronological documentation of the value added, the elementary valuation is also a means of controlling sales in the case of, say, the valuation of the introduction of a new product based on a points system. &EXAMPLE& The insured amount of a policy is increased. At the same time, this increase leads to the increase of the valuation of this business transaction throughout the enterprise. The remuneration is calculated individually for each commission recipient depending on the valuation result.

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• Key Concepts: 
  Elementary valuation is a feature of SAP ICM Incentive and Commission Management (ICM) that allows for the calculation of commission payments based on the value of individual transactions. It enables users to define different commission rates for different types of transactions, such as sales, returns, and cancellations.
  
  How to use it: 
  To use elementary valuation in SAP ICM, users must first define the commission rates for each type of transaction. This can be done by creating a commission plan and assigning different rates to each type of transaction. Once the commission plan is set up, users can then calculate commissions based on the value of individual transactions.
  
  Tips & Tricks: 
  When setting up a commission plan, it is important to consider the different types of transactions that will be included in the plan. This will ensure that the correct commission rates are applied to each type of transaction. Additionally, it is important to review the commission plan regularly to ensure that it is up-to-date and accurate.
  
  Related Information: 
  For more information about elementary valuation in SAP ICM, please refer to the official SAP documentation. Additionally, there are many online resources available that provide detailed tutorials and best practices for using elementary valuation in SAP ICM.