A Leading Biopharmaceutical Firm
Sales Incentives Calculations & Reporting Management for the US
Situation
- Leading biopharmaceutical firm encountered challenges with incentives for salesforce and managers.
- Current procedures were labor-intensive and prone to errors, leading to transparency and operational issues.
- Limited adaptability of the system led to increased offline data management via spreadsheets.
- Recognizing the need for a comprehensive solution, Aurochs automated incentive calculations.
- Automation enhanced overall operational effectiveness.
Problem
- Inefficient Incentives Calculations:
- Manual calculations were slow, resource-intensive, and error-prone.
- Consumed valuable time and human resources.
- Transparency Gaps:
- Sales representatives lacked real-time information about incentives.
- Resulted in lack of motivation and disconnect from performance and earnings.
- Rigidity in Systems:
- Adjusting payout curves, percentages, and incentive plans was complex and time-consuming.
- Difficult to adapt to changing business needs.
Approach
- Engaged in discussions with client’s Operations team to understand coworking industry challenges.
- Focused on client’s specific issues due to lack of efficient existing system.
- Adopted reverse approach by creating incentive reports for different job roles to aid visualization.
- Collaborated with client to formulate comprehensive requirement document.
- Requirement document served as definitive reference for complete implementation.
Solution
Through the adoption of 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 saw improvement due to the array of functionalities offered by Aurochs.
- 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.
- Empowered sales representatives with real-time access to incentive updates, rekindling motivation.
- “What If Calculator” integration for incentive simulations, improving understanding and engagement.
- Managers access personal performance dashboards and team dashboards for analysis.
- 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.
Outcome
- 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.