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Incentive Compensation Administration
To make your sales people do what you want them to do, you need to have a compensation plan which motivates them and aligns them to your objectives. Incentive plan needs to promote the 'right' behaviour.
Besides even if you have a very effective sales incentive compensation program at a given point of time, it needs to evolve with changing business landscape. To support this ever changing scope of incentive compensation program management, what you need is a robust IC plan administration programme.
- A program which can adapt itself with changing requirements.
- A program which can understand changing sales crediting rules, performance metrics and data sources
- A program which can produce accurate and timely reports.
- A program which provides comprehensive and self-explanatory scorecards, simulation tools to help plan managers to monitor the plan's health and insights to improvement.
Value Edge's IC Administration Solution effectively solves all these issues for you.
Our IC administration services provides you:
- Parallel systems and multiple layers of QC systems for accurate report delivery
- Time tested customer management/issue management/change management and operation processes
- Best in Class reports and tools which greatly enhances successful IC Administration and execution
- Highly automated - process oriented techniques makes our solution defect free
The Challenge:
A top tier US-based pharmaceutical previously did IC administration internally. There were numerous inconsistencies and delays in final payout delivery.
Value Edge solution:
Value Edge engaged with the client to understand it's Incentive Compensation philosophy and reporting requirements.
- Set up a completely parameterized system with Data structures and formats easy for client to produce and maintain and easy for consistent processing
- Set up various reports with different functions:
- Validation reports to validate the input data and highlight outliers
- Reports to give management an overall view of Territory level calculations
- Validation report to identify simple trends and statistics which demonstrate aberrations
- Individual Scorecards and Calculators: Static view and 'What if' view
- Value Edge completed the Discovery, Implementation and UAT in a record time of 3 months following which it has been successfully administering Client's IC plans
- Our flexible approach has also helped us swiftly incorporate changes in IC plan for client with very little overheads
Asia
418-419 International Trade Towers
Nehru Place
New Delhi 110019
INDIA
email: info@valuedgeindia.com
Europe
Paris, France
email: info@valuedgeindia.com
North America
Boston
email: info@valuedgeindia.com