What is standard agreement in SAP ICM - Incentive and Commission Management (ICM)?

SAP Term: standard agreement

• Component: ICM

• Component Name: Incentive and Commission Management (ICM)

• Description: Incentive and Commission Management An agreement template that is valid for the entire commission application and that becomes valid for specific standard agreements when it is assigned to them.

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• Key Concepts: 
  Standard Agreement is a feature of ICM Incentive and Commission Management (ICM) that allows companies to define and manage their incentive and commission plans. It enables companies to create and manage agreements between them and their partners, customers, or employees. Standard Agreements are used to define the terms of the agreement, such as the type of incentive or commission, the amount, and the duration.
  
  How to use it: 
  Standard Agreements can be created in ICM by defining the terms of the agreement. This includes setting up the type of incentive or commission, the amount, and the duration. Once the agreement is created, it can be managed in ICM by setting up rules for how it will be applied. This includes setting up rules for when payments will be made, how much will be paid out, and who will receive payments.
  
  Tips & Tricks: 
  When creating a Standard Agreement in ICM, it is important to ensure that all of the terms are clearly defined. This includes setting up rules for when payments will be made, how much will be paid out, and who will receive payments. Additionally, it is important to ensure that all parties involved in the agreement understand and agree to the terms before signing off on it.
  
  Related Information: 
  Standard Agreements are just one feature of ICM Incentive and Commission Management (ICM). Other features include creating incentive plans, managing commissions, tracking performance metrics, and more. Additionally, there are other software solutions available that can help companies manage their incentive and commission plans.