Automating Incentives and Reporting for a New-Age Appliance Manufacturer
Our client, a leading figure in the consumer electronics industry, focuses on delivering innovative and energy-efficient fans and mixer grinders. With a commitment to excellence, they have recognized the need to refine its primary distribution strategies in retail and manufacturing. Their mission is to create innovative, energy-efficient, and sustainable appliances that improve the quality of life for consumers while contributing to a greener planet.
Manufacturing
India
Household Appliance Manufacturing
Situation
The household appliance manufacturer used spreadsheets to manage their sales compensation programs.
The sales compensation program was somewhat complicated, with points or marks assigned for meeting targets across different KPIs.
The compensation plan rules converted these marks into a monetary value, considering thresholds, accelerators, and decelerators based on individual and team performance.
The geographically distributed salesforce and complex compensation structure led the field force to raise many queries within management.
From Our Clients
Every other platform needed us to change the way we managed data. Incentivate provided us flexibility without any compromise along with being the most cost-effective platform that has eliminated our incentives woes.
Approach
The team held meetings to identify challenges and grasp our client’s business priorities.
After agreeing on the project scope, we devised a plan to tweak existing processes by configuring workflows. This enabled the sales team to acknowledge their performance and reduce the manager’s overhead.
The next goal was to enable administrators to run simulations and assess their impact on salesperson performance and earnings to set up contests/schemes.
We utilized an agile approach to implement changes smoothly, ensuring flexibility throughout the process.
Conclusion
Through this partnership with Incentivate, the organization successfully streamlined its sales compensation process, reducing delays in incentive processing. Incentivate implemented a tailored cloud-based sales incentive system for daily updates, dashboards with personalized insights, and a query management system to free up sales bandwidth. These initiatives have enhanced operational efficiency and morale within the sales teams, leading to better retention rates.
Problem
Manual processes mandated that managers approve payouts, which resulted in significant delays, frustrated representatives, and posed risks to employee retention.
The manual handling of incentive calculations and approval processes added unnecessary complexity to sales operations, impeded efficiency, and potentially affected overall sales performance.
Sales reps lacked personalized dashboards, making it hard to track performance effectively. They needed tailored tracking to assess progress and optimize strategies impacting their sales outcomes.
Solution
- We implemented a cloud-based sales incentive management system to provide daily performance updates for the field.
It consisted of configuring incentive calculation rules, ensuring daily processing, and empowering the field to have visibility in compensation.
Next, we introduced a customized dashboard accessible to managers and sales reps, which provides quick insights into ongoing performance and nudges them with stretch goals.
Set up a query management system for the field to raise disputes using handheld devices with hierarchy-based routing and escalations wherever needed.
Experience our platform
Automate your incentives program without expensive licensing and long-drawn implementations
Outcome
Sales representatives can access incentives based on various Key Performance Indicators (KPIs), including reach, primary and secondary volume, revenue, and collections.
Insights and stretch goals keep the field reps motivated and engaged on a day-to-day basis.
The substantial improvement in operational efficiency yielded an extra 40 hours per month for focusing on value-added activities.