Custom built for the pharmaceutical industry, standard incentive compensation plan components and metrics are in-built. Supports pharmaceutical industry specific data structures, five-level geographic hierarchy, configurable payment schedules and parameterized eligibility exceptions.
Aurochs software has been designed and architected specifically for the pharmaceutical industry. It allows users to define incentive plans at different levels based on their requirements. Various key dimensions which are available for plan definition includes – SalesForce (mandatory), product (mandatory), channel (optional), data type (optional).
Aurochs software supports a pre-built five level geographical hierarchy. The levels supported are Territory – District – Region – Area – Nation. Users may choose to use all 5 levels or ignore levels are not applicable to them.
Standard incentive compensation plan components and metrics are in-built into the software and desired performance metric can be selected during configuration from a buffet of plan design components. The following types of measures are available
Measures can be calculated at the plan’s hierarchical level or as an aggregation of the measures at subordinate hierarchical level or from an higher hierarchical level. For example, a District manager plan can be assigned average territory share as a measure or be assigned his regional share change as a measure.
Aurochs software also supports incentive plan calculation based on different calculation methods. Lookup curves, payout matrix as well as commission tables are available to apply earnings to selected measures. Lookups and matrix curves also support linear interpolation for intermediate points. These curves can be set up to directly assign an earnings value for that component or assign a percentage of target payout value.
Unique IC eligibility engine specially designed for the pharmaceutical industry. It allows business users to flexibly configure complex eligibility scenarios using a simple interface without any technical know-how. The tool provides capability to select different calculation combinations (built-in) based on your specific business processes. Combination of calendar days, business days, company holidays, leaves etc can be used for incentive eligibility calculations on a monthly or periodic basis to suit your business needs.
The interface also allows user to configure rules (using standard dropdowns) for different special scenarios such as new-hire, transfer, termination etc. Special rules can also be defined for job shares and flexible working arrangements.
Modifiers or multipliers as they are generally known in the pharmaceutical industry is a design feature that allows the plan designer to accelerate or decelerate a plan participant’s incentive based on one or more performance measures.
Aurochs supports application of earnings multipliers to calculated earnings components. These multipliers can be configured to be based on higher geographic level performance or on a different performance measurement. The software supports upto 3 earnings multipliers applied on an earnings component.
Qualifiers are generally constraints / conditions in the plan design which determines the IC eligibility of the plan participant for a payout on any particular plan component. The idea is to add the set of threshold conditions to the plan design which enables the designer to zero out the incentive payment for that component irrespective of the performance of the participant on the plan measure.
Aurochs Software allows definition of multiple qualifiers/riders on each earnings component for an IC plan. Qualifiers may be based on comparison of any measure to a constant value (eg. Primary Product Achievement >= 100%) or to another measure.
Aurochs software supports pharmaceutical industry specific data structures such as series sales data, a 5 level geographic hierarchy and a monthly eligibility input used for plan period eligibility calculations. It also lets the user configure desired payment schedules from the list of commonly used periods such as month, quarter, semester, and annual with the flexibility to apply intermediate payout caps for cases where payment is more frequent than plan measurement period.
Aurochs software also provides users a parameterized mechanism to handle various HR related exceptions such as new hire, PIP, resignation and termination. Users can simply update corresponding flag values in the HR input to force various payment conditions such as – target, target or better, target or worse, force pay and do not pay. With Aurochs, users can also apply various pharmaceutical industry specific exceptions / adjustments using input and parameter files such as product weight override to define custom territory level weights, sales mapping to map performance and goals data from one or many geography to another geography, manual adjustments to update sales, goals and payout values.
Aurochs also gives you an easy access to detailed summary reports at different calculation levels to support quality control process and any downstream data analytics. Aurochs has the following summary reports by default:
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