India's largest platform and marketplace for GCCs & AI

Sign in

India's largest platform and marketplace for GCCs & AI
Become a Thought Leader
Become a 3AI Member

Sign in

3AI Digital Library

< Go Back

Incentive Compensation administration for 8000+ sales force

3AI September 10, 2020

One of the top 3 US Pharmaceutical companies

Problem Statement

  • Robust solution with quick processing time and high quality error-free reports
  • Customizability via a “parameterized” method
  • Admin run included implementation of plans, special Incentives and company-wide Annual Contests
  • A centralized communication system to enable field staff (sales and Mgmt) to access reports, documents and other business information

Analytics Led Approach

  • Comprehensive due-diligence exercise during proposal stage to understand key pain points
  • Rendered a simple user-friendly tool to perform ‘What-if’ analysis on IC Computations/ payouts
  • Designed a structured workflow based tool to capture qualitative metrics for IC computations
  • Optimal reports distribution mechanism provided through Sales Portal for matrix driven access control

Business Impact

  • Transparent project management approach for dynamic project tracking
  • Standardized and formal data management processes
  • Reduced cycle time by 2 days
  • Successful adoption of sales portal to make report distribution efficient and hassle – free

Critical Success Factors

  • Saved over $ 5MM in operating costs over 5 years
  • Parameterized tool provides requisite flexibility, with ease of use aiding rapid response to the organizational changes and superior report distribution mechanism

    3AI Trending Articles

  • AI in Investing – are we there yet?

    Believes Atanuu Agarrwal from Upside AI, this and much more in a conversation with Sumit Chanda from JARVIS by Monitree, Siddharth Panjwani from K2 Capital, and Atanuu. With the world moving too fast and data piling up by every millisecond, why haven’t we fully utilized the capabilities of technology to carry out Smart Investing for […]

  • How AI is transforming Financial Services

    Since its inception, AI has experienced at least two major hype cycles with resulting winters of disillusionment. Although after the first “winter”, many financial firms deployed a number of successful applications, by the 1990s, AI went into its second winter of disillusionment as realization set in that these systems were harder and more costly to build and maintain […]

  • Global Captive Centers – The true enablers of Collaboration (Part-2)

    Featured Article: Author: Vinodh Ramachandran, Neiman Marcus Group In my previous article, I had spoken about some challenges due to a siloed working model within data & analytics teams in large retailers and how setting up a Data & Analytics CoE within the GCC can be a good solution. Lets look at a few ways […]

  • Can modern AI systems solve any problem on their own?

    Featured Article: Author: Puneet B C, Data Scientist – Computer Vision, AIRBUS First, let’s briefly understand what AI is. Artificial Intelligence is basically an algorithm or a rule that is used to make decisions automatically. Making a decision is to generate a desired output for the given input. In order to achieve this, the algorithm […]