CHALLENGE:
Need for an incentive compensation management (ICM) solution
This company required an incentive compensation solution that could manage 15 plan types, even more individual plans, and 1,400 payees. The solution would need to give sellers motivating insights to encourage them to close deals and be able to manage disputes.
SOLUTION:
An ICM Solution with scenario planning and dispute redressal
The company selected Spaulding Ridge and Anaplan to develop the solution. We created an ICM solution that facilitated “what-if” analysis for sellers to understand the compensation impacts of additional sales to various accounts and product groupings, log and manage disputes or inquiries related to compensation payouts and create compensation accrual reports for finance.
RESULTS:
User-friendly, margin-based incentive compensation processes and improved seller satisfaction
Since the solution went live, the company has seen a major reduction in both effort and errors in the ICM function, an increased understanding among sellers of the company’s new margin-based incentives plan, and more efficient management of disputes and inquiries.
