A holistic incentives solution for a leading biopharmaceutical firm.

The challenge

Existing procedures were labor-intensive and prone to errors, leading to transparency and operational issues. Limited adaptability of the system drove increased offline data management via spreadsheets. The key problems were:

• Inefficient incentive calculations: manual calculations were slow, resource-intensive, and error-prone, consuming valuable time and human resources.
• Transparency gaps: sales representatives lacked real-time information about incentives, resulting in a lack of motivation and a disconnect from performance and earnings.
• Rigidity in systems: adjusting payout curves, percentages, and incentive plans was complex and time-consuming, making it difficult to adapt to changing business needs.

The solution

Recognizing the need for a comprehensive solution, Aurochs automated incentive calculations through a unified platform encompassing multiple functions. The organization achieved enhanced operational efficiency and introduced full transparency to its salesforce. Processing times were notably reduced, and the promptness of incentive payouts improved. The platform delivered:

• A marked reduction in incentive calculation time, boosting operational efficiency.
• Elimination of manual errors, ensuring precise calculations.
• Seamless integration with sales data for accurate results.
• Easy customization of payout curves, percentages, and incentive plans for enhanced flexibility.
• Simplified activation and deactivation of new incentive plans for swift adaptation to market changes.
• Real-time access to incentive updates for sales representatives, rekindling motivation.
• A "What If Calculator" for incentive simulations, improving understanding and engagement.
• Personal performance dashboards and team dashboards for managers to analyze performance.
• Enhanced visibility into individual sales representative performance for targeted improvements and effective team management.
• Streamlined processes for adjusting targets and sales data through workflows, reducing manual work and data inaccuracies.

Approach

• Engaged in discussions with the client's operations team to understand industry challenges.
• Focused on the client's specific issues given the lack of an efficient existing system.
• Adopted a reverse approach by creating incentive reports for different job roles to aid visualization.
• Collaborated with the client to formulate a comprehensive requirement document.
• The requirement document served as the definitive reference for complete implementation.

The results

• Improved efficiency with faster incentive calculations.
• Implemented strong data controls and achieved full audit compliance.
• Real-time dashboards reignited sales reps' motivation.
• Quick adaptation to market changes through flexible configuration.
• Enhanced engagement with earnings scenario simulations.
• Streamlined processes for operational excellence.