Transforming Sales Compensation Landscape for a Global Vision Care Organization
Founded in 1846, this global leader in optics and optoelectronics is renowned for its precision engineering and innovation. It develops lenses, microscopes, and medical devices, playing a key role in healthcare, industrial metrology, and semiconductor manufacturing. With a strong focus on research and development, the company continually advances technology to enhance quality of life and scientific discovery.
Machinery Manufacturing
India
Optics, Optoelectronics, Eyeglass Lenses
Situation
Sales representatives struggled to analyze their performance due to insufficient visibility into their data.
Managing data from various sources was challenging due to inconsistent formats, leading to errors.
The large volume of data, combined with complex matrices, required significant resources to manage.
There was no systematic mechanism to handle sales queries and order disputes, causing delays.
The lack of a structured goal-setting process made it difficult to align efforts and drive growth.
From Our Clients
With Incentivate, we are able to manage complex plans easily and making updates is a breeze. No other platform comes close to Incentivate's flexibility, and comprehensiveness.
Approach
Engaged in meetings with the client to pinpoint system challenges and clarify requirements.
The implementation was structured as follows:
Phase 1: Create a dynamic hierarchy structure to ensure accurate data rollups.
Phase 2: Define goals, goal types, and payout frequencies to establish consistency
Phase 3: Set up parameters and plans to provide flexibility and visualize their impact on performance and earnings.
Phase 4: Integrate key performance indicators (KPIs) into dashboards to enhance visibility for both representatives and administrators.
Conclusion
In partnership with Incentivate, the company has successfully transformed its sales compensation landscape, achieving great operational efficiency, transparency, and motivation within the dynamic salesforce. This visionary collaboration is a testament to the power of innovative solutions in redefining organizational success.
Problem
Lack of Visibility: Sales representatives struggled to analyze their performance due to insufficient visibility.
Inconsistent Data Formats: Managing data from various sources with inconsistent formats proved difficult.
High Volume and Complexity: The large volume of data, combined with complex matrices and irregular formats, made data management time-consuming and challenging.
Lack of Organized Analysis Reports: The absence of structured analysis reports with all the key KPIs and their detailed breakdown hindered effective business decision-making.
Unorganized Query Management: There was no systematic mechanism to handle sales queries and order disputes.
Disorganized Goal Setting: The lack of a structured goal-setting process raised concerns about the organization’s growth.
Solution
Comprehensive Dashboards: Incentivate provided unique dashboards that capture data across the organizational hierarchy, providing visibility into the performance of the sales reps and the organization.
End-to-End Automation: From data pulling to program governance, the entire process of incentive calculation and reporting was automated.
Streamlined Plan and Contest Configuration: Any business change regarding incentives structure could be configured and reflected in every rep’s login within minutes.
Historical Data Comparison: Historical data was utilized to offer insights into the organization’s growth and provide strategic direction.
Plan Effectiveness Calculation: Incentivate enabled the client to assess plan effectiveness and make mid-quarter adjustments to plans.
Simplified Query Management: A query management module was implemented, simplifying and accelerating query handling and dispute resolution.
Regional and Rep-Level Leaderboards: Leaderboards were provided across regions to identify the best and worst-performing areas, and a rep-level leaderboard to promote healthy competition within the organization.
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Outcome
Established Automation: The entire calculation and reporting process was streamlined, reducing the time required from several months to just 25 minutes.
Transition to Quarterly Kickers: With the significant reduction in calculation time, annual kickers were replaced with quarterly kickers.
Streamlined Goal Setting: Managers can now set goals directly within the system for their teams, eliminating the need to send unorganized reports.
Reduction in Erroneous Payouts: The incidence of erroneous payouts was greatly minimized.
In-System Dispute Resolution: Disputes are now resolved directly within the system, enhancing efficiency.