Sales incentive compensation plans, like any other business strategy evolve in accordance with changing needs of the business. If this evolution does not happen at the correct time, it leads to a significant financial implication in terms of lost opportunities. Therefore it is very important to identify the correct time to review the IC plan.
Aurochs Software launches its Quota Setting solution- a self-service module that helps pharmaceutical companies to efficiently set sales targets for their sales force.
Press release 2015/05/05 – Aurochs Software launches its incentive plan health check module - Aurochs Software
Aurochs Software launches its incentive plan health check module
Incentive Compensation plan operational strategy needs to be reviewed regularly. Many companies rely on excel spreadsheets or home-grown script based solutions to manage their salesforce incentive compensation programs. These solutions are generally preferred because of familiarity and perception of control without necessarily understanding the associated limitations.
Every incentive cycle, sales leadership and the operations teams face a difficult job of setting fair but challenging quotas. As a company, you want your sales team to meet their quotas but also push the envelope to achieve growth. Quotas play a big role in motivating sales reps to achieve broader strategic business objectives.
Press release 2015/01/08 Aurochs Software launches Rep-Eye, field reporting solution for incentive compensation - Aurochs Software
Aurochs Software launched Rep-Eye, a field reporting solution for incentive compensation.
Press release 2014/12/19 – Larry Novacich, Sales Compensation Expert Joins Aurochs Software Advisory Board - Aurochs Software
Larry Novacich was one of the pioneers in the sales compensation solutions industry when he joined Synygy as a start-up in 1993. As COO, he was instrumental in the rapid growth of Synygy from a startup to a market leader in the sales compensation space with a focus on services.
Press release 2014/12/01 - Jason Bryant, European Pharma Market Expert Joins Aurochs Software Advisory Board - Aurochs Software
Jason Bryant, an expert with 20 years of experience in pharmaceutical domain practice areas like sales force effectiveness, business intelligence, analytics, CRM and marketing planning has joined the Aurochs Software Advisory Board.
IC Management reports should be a compulsory fixture in your ongoing ICM process. Management can identify subtle motivational issues with the existing plan and support the sales leadership in course correction using such reports. Such timely tweaks to the IC plan/sales communication/quotas, etc can help ensure your IC plan is always performing at peak capacity.
A quick and dirty quota setting model setup on an IPython notebook using pandas and numpy. 6 different pharma quota setting methods explored