Rewarding people is a key way in which business influences behaviour. Internal bonus / commission schemes driving sales results. Rewarding and recording agents and resellers to comply with legal obligations. Customer loyalty programmes. Getting any of that wrong is costly. Over or under paying has severe implications, but there are other elements to consider. Do your employees slow down in activities whilst they await the bonus or commission reports? Have they started to lose faith in the accuracy? Are the complications of running your customer loyalty programme driving up costs and minimising your benefits? Are you really trying to run this accurately and effectively on a spreadsheet?
Solution: ICM – an IBM Solution
Category: Software, Sales Enabling
Drive your people’s behaviours, reduce your costs and align your revenue targets to your resources.
VALIDITY Group is proud to offer to our clients the ICM solution – a single cloud-based, powerful application that manages compensation plans across your entire business. It can also manage your customer loyalty programs.
Compensation plans and employee behaviour are closely linked across every organisation; not just the sales team, but increasingly across the entire organisation. Business is looking to improve performance through changes to compensation models that provide greater flexibility and drive the organisation forward by improving outcomes and results. The increasing complexity of those plans can work against the organisation, despite the best intent. Our solution provides those outcomes by delivering data and processes. It allows organisations to significantly reduce administration costs whilst driving profitable sales and improved behaviours across the entire organisation.
Sales leaders and executives have better visibility across the sales organisation with the alignment of field reps along with their products, quotas and territory assignments, enabling them to effectively drive performance. Territory management, quota planning, channel management, incentive compensation – ICM delivers high-level and in-depth detail into sales performance measures and metrics.
Customer Loyalty programmes provide significant value and benefit to those organisations that embark on them. The costs in running these programmes can now be significantly reduced by the use of our solution. Whilst we can share the outcomes achieved by a major airline, it is far more relevant if we discuss your programme and engage the services of our Business Value Assessment.
Designed for business users, it does not require IT resources or technical expertise in order to deploy and administer incentive programs. Compensation analysts are able to navigate through, create, and administer plans and reports without any coding or scripting skills. This enables your organisation to quickly roll out new incentive plans that accurately align the sales team to constantly changing market conditions as often as you need.
ICM provides a user-friendly, graphical reporting tool that enables business users to quickly generate highly formatted and customised reports. Senior managers and executives can gain deep, detailed insight into performance and effectiveness such as profit margins, achievement of KPI’s, cost of sales, and account penetration in order to drive more effective selling strategies and maximise up-sell and cross-sell opportunities.
Organisations can quickly deploy incentive programs and processes using ICM’s library of pre-built solutions. Users can focus on the unique aspects of their plans rather than creating them from the ground up, dramatically reducing implementation time and cost.
ICM consumes data from any number of disparate data sources, integrating directly into an organisation’s existing infrastructure. Compensation results and commission statements can also be exported directly to downstream systems including payroll and customer relationship management (CRM) applications, business intelligence (BI) systems and corporate portals.
Talk to us today to discover how quickly and effectively this solution will deliver for you.
Take a look at this IBM video for a brief overview: