Build Pay Plans

Overview

Set up and configure pay plans in STAKT by entering products, defining payment schedules, and creating overrides. These steps help manage sales commissions by ensuring accurate and flexible commission structures across different regions and conditions.

Enter Products

Define Product Costs

To enter products in STAKT, start by navigating to the relevant section within the application. You'll be prompted to add product details, such as name and description. When defining product costs, you have several options. You can set costs on a per unit basis, which means each unit of the product has a specific cost. Alternatively, you can choose a fixed per deal cost, where the product has a single charge regardless of the number of units. Lastly, you can define costs as a percentage of the revenue from each deal, allowing the cost to scale with the deal's value.

Set Payment Schedules

To set up payment schedules for products, start by defining the upfront payment. Specify whether the payment is per unit, as a percentage of the total deal, or a fixed amount. Configure the percentage or amount due at the beginning of the job.

Next, set up progress payments. Assign the conditions under which these payments are made. You can base them on per unit, a certain percentage of the ongoing revenue, or as a fixed sum. Determine the frequency and amount of these progress payments.

Finally, configure the final payments. This involves setting the final due amount at the completion of the job. Similar to upfront and progress payments, you can opt for per unit, a percentage of the total revenue, or a fixed figure.

Ensure each payment schedule is accurately entered into STAKT according to the specified format. This setup will guide the payment process and ensure timely and accurate financial flows.

Create Overrides

Configure Override Settings

To create and configure an override in STAKT, first navigate to the Overrides section. Click on the Add Override button. Name your override, ensuring it clearly reflects its purpose. Then, set the parameters such as per unit, fixed per deal, or percentage of revenue. Use the Settings field to specify payment amounts and schedule types like upfront or progress payments.

You can also choose to create different overrides for various products. This allows for tailored application depending on industry needs. Adjust the rate for different regions, if necessary. For instance, define state-specific rates. Always review your settings to ensure accuracy.

Apply Conditions to Overrides

To apply conditions to overrides, access the override settings. Select the 'Conditions' option to define criteria like project-based or time-based. For project-based conditions, specify criteria such as price per unit, sales prices, or revenue targets. For time-based conditions, select parameters like deals sold by year or all-time. Set the number of deals required to trigger the override, choose whether to include canceled projects, and decide if the condition should apply retroactively.

Regional Rate Configuration

Set Regional Rates

To set regional rates for products based on states, first, navigate to the product settings. Select the product you are configuring. Look for the State-Specific Rates section. Here, choose a state from the dropdown menu. Enter the rate for the selected state. Specify if this rate is per unit, a fixed amount, or a percentage of the revenue. Save your changes. Repeat for other states as needed.

Manage Regional Overrides

To manage regional overrides, navigate to the Overrides section. Select Add Override and choose the region you want to specify. Use the Date Picker to set the effective dates for the override. Adjust the settings over time by returning to the overrides list, selecting the relevant override, and modifying the necessary parameters. Save changes to apply updates automatically.

Manage Deductions

Set Deduction Types

To set a deduction type in STAKT, navigate to the Deductions section within your pay plan. You can then choose from different types of deductions: Per Unit, Fixed Amount, or Percentage. For Per Unit, specify the amount to be deducted for each unit sold. To set a Fixed Amount, enter the total amount to be deducted per deal. For Percentage, provide the percentage value of the total revenue to be deducted. After entering these details, save your changes to apply the deductions to your pay plan.

Apply Deduction Limits

To apply limits to deductions in STAKT, navigate to the deduction settings. Here, enter the maximum value allowed for each deduction. This ensures that deductions do not exceed the set limits during commission calculations.

Under each deduction, you'll find an option to specify the maximum value. Input the desired max value, which can be defined as a fixed amount, percentage, or per unit basis. This cap ensures precise control over commission deductions.

For each type of deduction, set these maximum limits to prevent over-deductions. This involves choosing the type of limit (fixed amount, percentage, or per unit) and entering the maximum allowable figure for the deduction.

Review and confirm the maximum limits for all relevant deductions. Changes will apply to all future commission calculations, ensuring consistent enforcement of the specified deduction caps.