What is remuneration rate in SAP ICM - Incentive and Commission Management (ICM)?

SAP Term: remuneration rate

• Component: ICM

• Component Name: Incentive and Commission Management (ICM)

• Description: Incentive and Commission Management Contractually agreed percentage rate that is used as the factor to calculate performance-related remuneration. &EXAMPLE& It has been agreed that a commission recipient receives 2% of the valuation amount contract volume as commission for every new business.

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• Key Concepts: 
  Remuneration rate is a term used in SAP ICM Incentive and Commission Management (ICM). It is a rate used to calculate the amount of commission or incentive that an employee or salesperson will receive for a particular sale or activity. The rate is determined by the company and can be based on a variety of factors such as the type of product sold, the amount of sales, or the customer's loyalty. 
  
  How to use it: 
  In SAP ICM, remuneration rates are set up in the system and can be adjusted as needed. The rates are then applied to each sale or activity to calculate the commission or incentive that will be paid out. The system also allows for different rates to be applied to different customers or products, allowing for more flexibility in how commissions and incentives are calculated. 
  
  Tips & Tricks: 
  When setting up remuneration rates in SAP ICM, it is important to consider all of the factors that may affect the rate. This includes the type of product being sold, the amount of sales, and any customer loyalty programs that may be in place. It is also important to ensure that the rates are updated regularly to reflect any changes in market conditions or customer preferences. 
  
  Related Information: 
  SAP ICM also allows for other types of remuneration such as bonuses and rewards. These can be set up in the system and applied to sales or activities as needed. Additionally, SAP ICM provides reporting capabilities so that companies can track their remuneration rates and ensure they are being applied correctly.