Improvise the way you incentivize with Oracle Fusion Incentive Compensation
Guest post by
Vidyullatha Prakash, Senior Associate Consultant, Infosys
Over the years, sales organizations have faced multiple challenges when it came to incentivizing the sales force. Some of the key issues that have plagued businesses have been underperforming sales channels that occur because of sales plans not driving the correct selling behavior. As a result, sales strategy changes take a long time to be replicated in the system and results in high cycle time to compute compensation eligibility. Also, as a side effect of this, organizations are unable to recognize, reward and retain top performers. This is the standpoint from the business side. There is a whole other set of problems related to accuracy and line of sight facing the sales force in the field. Sales Representatives are often in a quandary as they lack clear understanding on which opportunities to chase, which of those are high margin or high value deals that will maximize their incentive compensation. They also have poor visibility to their earnings or quota. Dispute Handling, being an extensively prolonged manual process, is another mammoth nuisance in itself. Hierarchical approvals still rely on constantly changing excel versions that prove to be a nightmare to the sales organization.
Oracle Fusion Incentive Compensation comes in as a life-saver to the entire sales team. It addresses woes faced by Sales Management and executives alike. It is a robust, enterprise scalable compensation engine which applies commission and bonus rules to elicit the most optimal sales from the sales force. It boasts of various innovative features that quell multiple obstacles hitherto faced by sales groups.
- Rich, adaptable and intuitive plan design, so as to assist in incentivizing sales force with sophisticated compensation plans in line with the business strategy.
- Performance dashboards that provide direct line of sight into real-time sales performance reduce shadow accounting and increase sales productivity.
- Real time visibility for sales reps so that they can easily track ongoing performance and earnings via personalized dashboards, reinforcing desired sales behavior.
- Enables the business to handle sales globally, with cross-organization crediting & roll up capabilities aided by multi-currency goal definition and calculation.
- Accurate, on time payment with robust, scalable, high-performance processing engine with parallel processing and retro-active & incremental calculation addresses large volumes.
- Business-user-driven, Real-time reporting and analytics to aid in informed decision making.
- Self-service dispute management that gives Sales Reps ability to create, track and view resolution of compensation issues.
- Powerful user-defined expression builder and multi-dimensional rate tables.
- Sales credit allocation and hierarchical rollup rules.
- Integration web services, file-based import/export and ETL capabilities.
- Accelerate rollout and deployment of new plan initiatives and plan changes with guided, top-down plan creation.
- Regulatory and audit compliance by providing full trail from transactions to payment, as well as all relevant calculation details.
Fusion Incentive Compensation integrates seamlessly with Territory and Quota Management, thus making the complete sales planning endeavor a piece of cake. In the process, it helps to focus the sales organization on desired behavior, also enabling to achieve financial control and compliance in parallel.
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