A leading biopharmaceutical firm faced challenges in handling and computing incentives for its dedicated salesforce and managers. The company’s current procedures were not only labor-intensive but also prone to mistakes, resulting in a lack of transparency and operational drawbacks. The limited adaptability of the system resulted in a surge in offline data management through spreadsheets. Acknowledging the urgent requirement for a holistic solution, Aurochs automated the incentives calculations, thus boosting overall operational effectiveness.
The company faced a series of interconnected challenges that were hampering its sales performance management:
- Inefficient Incentives Calculations: Manual calculations proved to be slow, resource-intensive, and prone to errors, consuming valuable time and human resources.
- Transparency Gaps: Sales representatives lacked access to real-time information about their incentives, resulting in a lack of motivation and a sense of disconnect from their performance and potential earnings.
- Rigidity in Systems: Adjusting payout curves, percentages, and incentive plans was a complex and time-consuming process, making it difficult to adapt to changing business needs.
The Aurochs team engaged in discussions with the client’s Operations team to gain a comprehensive understanding of the challenges within the coworking industry, with a particular focus on their specific issues. Given the lack of an efficient existing system, envisioning the desired result proved to be a challenging task. In response, the Aurochs team adopted a reverse approach by crafting incentive reports for various job roles, aiding the client in visualizing how information would be disseminated. A collaborative endeavor was made to formulate a comprehensive requirement document, serving as the definitive reference for complete implementation.
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.
The implementation of the automated incentives calculation and management system brought about a host of significant and interconnected benefits for the organization. These included:
- Improved efficiency with faster incentive calculations.
- Implemented strong data controls and achieved full audit compliance.
- Real-time dashboards reignited the sales reps’ motivation.
- Quick adaptation to market changes through flexible configuration.
- Enhanced engagement with earnings scenario simulations.
- Streamlined processes for operational excellence.