SPM vendor selection for Fortune 500 sales corporation
Choosing an SPM solution with confidence
Industry: High Tech
A common challenge for many companies is effectively evaluating and selecting the right Sales Performance Management (SPM) technology solution. One Fortune 500, internet-based sales corporation selected OpenSymmetry to assist with the evaluation and selection process.
Maximizing ROI with the right SPM solution
The company, headquartered in San Jose, California, had grown and prospered for two decades. Now a multibillion dollar organization with tens of thousands of employees, they needed an SPM solution to improve sales compensation efficiency and increase accuracy. Partnering with OpenSymmetry, provided an opportunity to leverage OpenSymmetry’s specific expertise ensuring support throughout the process and also ensuring the highest possible ROI.
VENDOR SELECTION APPROACH SUMMARY:
OpenSymmetry brought insight and industry-leading expertise to empower the client to identify the best-fit SPM solution for their specific business climate by executing a three-step process:
1. NARROWING THE FIELD
Current state assessment & future state vision
OpenSymmetry completed a comprehensive assessment of the client’s SPM system and processes to approach the vendor evaluation in the context of the client’s current & future state needs. By leveraging the client’s unique goals, requirements and capabilities, the broad field of potential vendors was narrowed to a shortlist of the best-fit solution providers. This process phase entailed:
• Performing a formal review of all current sales compensation management documentation, plans and processes
• Helping to establish future state needs based on recognized best practices and program goals
• Identifying implications related to any potential sales compensation plan design changes
To help facilitate a complete review of the client’s program, OpenSymmetry leveraged the following proprietary 5 Cs model. This model ensured a thorough and holistic review of their sales compensation program.
2. CHOOSING THE SOLUTION PROVIDER
Evaluation & selection
OpenSymmetry added value and rigor to the client’s vendor evaluation efforts by providing extensive knowledge of the top SPM technology suppliers and guidance on evaluation best practices. This phase of the engagement included:
• Attending four “proof of concept” vendor demonstrations, including post-demo discussions and analysis
• Providing planning, key reference questions, and a client-specific call agenda to ensure insightful outcome of the vendor reference checks
• Reviewing and enhancing the client’s demonstration scripts to help create differentiation among solution providers (Additional focus on including development of critical ad hoc questions and a formalized scoring methodology)
• Evaluating overall vendor evaluation results and providing perspective, enabling identification of the preferred vendor
• Supporting negotiations with vendors to ensure best price and satisfactory terms and conditions
3. CREATING A ROADMAP
To help prepare the client for a successful technology implementation, OpenSymmetry leveraged their in-depth understanding of the chosen vendor solution, including any potential gaps, to create a detailed deployment roadmap. This phase was comprised of:
• Assessing the client’s ability to successfully implement the preferred vendor’s solution within the desired timeline, considering data interfaces, reporting needs, compensation plan requirements, management processes, and resource readiness
• Establishing an optimal, comprehensive deployment plan, including implementation, training, and often overlooked change management aspects
Outcome and Benefits
OpenSymmetry helped the client choose the best SPM solution through a proven and collaborative process. As SPM implementation experts, OpenSymmetry provided deep knowledge and expertise on the solutions’ capabilities as they related specifically to the client’s needs. This allowed the consultants to understand potential pitfalls and technical gaps within the solution sets, enabling the team to select the best fit for their programs. Some key benefits the client received by partnering with OpenSymmetry include:
• Reduced the selection effort and timeline.
• Ensured selection efforts were centered around critical future state requirements.
• Tailored RFPs and demos to ensure clear differentiation of vendor capabilities.
• Informed negotiations and contracting efforts helped reduce software expenditures and eliminate hidden costs and penalties.
Ultimately, with support and guidance from OpenSymmetry the client was able to confidently move forward with a plan and approach that guaranteed project success.
For more information on how OpenSymmetry can help your organization ensure a smooth and successful SPM technology evaluation & selection process, please email us at email@example.com.
OpenSymmetry enables clients to achieve greater operational efficiency and get better sales results. OpenSymmetry is a global consulting company specializing in the planning, implementation, and optimization of industry leading technology suppliers of sales performance management solutions.