Get automated calculation of your Sales team’s incentives based on various parameters while maintaining the desired level of transparency
Fully transparent bonus system
Systemized and organized data overview
Save weeks in determining and calculating bonuses
Problem
Every company has a sales team and giving them the best possible bonuses based on their active performance really helps increase the team’s productivity and satisfaction. A client of ours understood that but was held back by the convoluted process they had set up. For starters, their sales data was found on one system, and when they had to start calculating bonuses, they had to extract it and compare it to the set targets, which were set up in another system. There were often mismatches between the two systems, which required a lot of clarifying back-and-forth communications. Furthermore, the bonuses themselves were actually calculated in Excel, and every team had its own spreadsheet template, which further complicated things. And to top it all off, the final bonuses needed to be double-checked again by a different department to ensure everything was correct. So, this client decided to contact us and see if their processes could be simplified in any way.
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Solution
We developed a solution in the form of an Anaplan model that could compute various types of sales incentives. It managed to save our client a lot of time since it eliminated the need for back-and-forth clarification discussions and bonus approvals. Furthermore, it helped minimize disputes like compensation dissatisfaction, thanks to the transparency the model provided. Additionally, the transparency our solution introduced was easily managed through custom user rights, so everyone saw only the data they needed. To further help with transparency, our solution offered automated PDF exports, which were sent to every user’s email to notify them of the bonus they would get and how it was calculated. Our client also received alert notifications, where the app would notify management if a bonus would be lower or greater than the established parameters, so they could go and double-check it.
Success
In the end, our solution helped our client save a ton of time. Before, getting the bonuses sent out took around 2-3 weeks every quarter, but now the whole process takes about 2 days. Additionally, tracking and analyzing which sales reps need more incentive can be done quite quickly with the help of our model. The solution’s easy-to-use interface meant that locating the required data was a breeze, thanks to the systemized approach consisting of hierarchies of teams, departments, divisions, etc. Management could easily keep an eye on the target progress at any point and could better optimize it for maximum results.