Sales Performance Management & Incentive Compensation Automation for High Tech
Scale up sales compensation to drive rapid profitable growth.
A myriad of anomalies needs effective sales performance management.
Technological growth is soaring. According to Finances Online, the Digital Transformation Statistics state that digitally transformed organizations are projected to contribute to more than half of the global GDP by 2023, accounting for $53.3 trillion (IDC, 2020). And of that, 39% of executives plan to benefit from digital transformation initiatives in 3 to 5 years. This means the market is aggressively growing, making it a highly competitive space. Organizations need to adopt automation technologies to stay in the game, and they need to incentivize their employees with ultimate visibility, efficiency, and scalability, often supported through enterprise SPM solutions in high tech.
A provider of the #1 sales engagement platform was growing rapidly, doubling its sales force within a year. This created challenges that demanded a more efficient and scalable ICM solution and a clearer SPM strategy for SaaS companies. Managing calculations on a spreadsheet was no longer an option for the finance team since the process was handled by a single individual, creating the risk of a single point of failure. In addition, the sales team was unable to quickly and easily run reports, which decreased trust within the team. They succeeded by selecting a tool that integrated their other technologies and was supported by SPM deployment consulting, giving them the ability to customize reports and access performance data on a real-time dashboard. With the new tool in place, they can now write new sales compensation plans for new hires and quickly add them to the existing ICM, enabling stronger high-tech sales performance optimization.
Unique Complexities of the High Tech Industry
Collect
- High volumes and number of fields
- Multiple unique transactions (direct, indirect, 3rd party)
- Flexibility to add/expand with M&A activity
Credit
- Most complex crediting models
- Continuously changing sales’ orgs and coverage models
- Exception requests and processing credit override
Calculate
- Complex product and service offerings
- Unique and multiple incentive models
- Annually changing comp plans and measures
- Sales Planning for T&Q
Compensate
- Standard logic across LOBs
- Scorecard input and management
- Management of external and manual processes
- Prior period adjustment
Communicate
- High demand for end user reporting
- Increasing need for analytics that helps drive business decisions
- Detail vs Aggregate
- Feeding external stakeholders
How Do We Help
Foundational models are tailored based on client specific requirements and increase the ability to realize strategics differentiators and best practices.
| DESIGN CATEGORIES | COLLECT | CREDIT | CALCULATE/COMPENSATE | COMMUNICATE |
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Clients From Around the Globe
“Sunrun maximized the value of our incentive compensation system, and we were able to increase overall sales volume of solar panels and batteries. We’re now able to better serve both our employees and our customers. The efficiencies generated from this new ICM system have led to an increase in deployment of solar across the United States.”
ROBERT YEAGER
Director of Compensation, Sunrun
Clients From Around the Globe
“OpenSymmetry rose to the challenge of creating a roadmap for an efficient, centralized ICM system for us. We started off with over 100 incentive plans throughout the bank in different lines of business, meaning the incentive administration was decentralized. With the help of OpenSymmetry, we have improved efficiencies by streamlining our incentive compensation administration to a single system.”
Kimberly Hinrichsen
VP & Sr. Director of Incentive Admin, U.S. Bank
Clients From Around the Globe
“After working [with OpenSymmetry], my whole world changed. From working with a huge, onerous spreadsheet system, it’s gotten simpler. It’s changed the game for everyone in the company. We have improved timelines for making information available for reps. It shifted my perspective to dig deeper into the data.”
Courtney Aubin,
Senior Sales Commissions Analyst, Blackbaud
Clients From Around the Globe
“Working with OpenSymmetry, we experienced openness, flexibility, and total commitment to our success from UK team. I was surprised that instead of coming up with solutions to fix our problems only, they were always looking for ways to simplify, streamline, and improve our processes in the same time. Due to that kind of commitment, we went from having over 100 configuration rules to just 27.”
Petra Maurova
Sales Rewards, SITA
Clients From Around the Globe
“OpenSymmetry helped us to evaluate our ICM program in a new light. Their technical and business expertise allowed us to understand the details of how changes would impact our system and processes. This enabled us to implement changes that would have the biggest impact on our business.”
Sales Operations Manager
Wacker Neuson
Clients From Around the Globe
“OpenSymmetry’s culture was a really good fit with T-Mobile. They were very open-minded and spent as much time listening and collaborating with us as they did telling us what needed to be done. That type of humility with such solid knowledge and capability was a perfect match for us.”
Clayton Tredway
Director Customer Care, T-Mobile
Clients From Around the Globe
“OpenSymmetry helped automate our data feeds and update our configuration of Xactly Incent, and these improvements helped us save approximately 7,200 hours per year by eliminating manual calculations, minimizing adjustments, and building trust in the data to reduce shadow accounting. When we got this working right, we reduced what took days to 3.5 hours. Time savings have been so key for us.”
Justin Ritchie
Senior Director of Sales Operations, Manheim (subsidiary of Cox Enterprises)
Clients From Around the Globe
“Working with OpenSymmetry, we have implemented a formal, auditable, trackable sign-off process for the payouts. It’s made a huge improvement. No more paper. Information is at associates’ fingertips 24/7. Managers can view sales results and compensation results for their teams, which leads to more effective and efficient management. The availability of information has made a huge difference.”
Jennifer Wooster
Vice President – Group Actuarial and Compensation Officer, Ameritas
Resources for High Tech
SPM Challenges for the High Tech Industry
Whitepaper
Addressing needs should be an important factor when selecting an SPM solution that can support your sales efforts, enable business outcomes, and ensure your maximum return on spend.
How Do You Incentivise SaaS Sales?
Blog
SaaS is generally thought to be a challenge for incentive plan designers. Learn why it’s important & some of key considerations in getting the design right.
Automating Incentive Compensation Management
Case Study
Learn how SalesLoft continues to enjoy the efficiency and accuracy made possible by automation of their incentive compensation process.
Sales Performance Management Optimization
Case Study
Learn more about how you can benefit from an SPM program assessment and future state planning like National Instruments.
Continuous Improvement of SPM Technology
Case Study
SCC and OpenSymmetry have been in partnership for over four years, and SCC has seen improvements in Increased self-sufficiency, improved SPM dashboard, and reduced processing time.
Fortune 500 Sales Performance Management Solution Selection
Case Study
A common challenge for many companies is effectively evaluating and selecting the right SPM technology solution. One Fortune 500, internet-based sales corporation selected OS to assist.
