Tailor plans that drive strong sales performance
Incentive Compensation Plans directly influence how to reward high performers while optimizing sales engagement. Some of the most common challenges include:
- Failed sales targets
- Underperforming territory sales teams
- Frustrated field teams
- Misunderstood IC plans by participants
- Biased quota modeling
Precision Analytic Solutions helps life science companies with the mechanics of well-crafted IC plans that align with business objectives.
Engage greater numbers of participants in your incentive compensation plans by identifying, setting, and managing the right sales targets. Provide your sales teams with timely reporting and motivate them with the kind of industry best practices that lead to heightened performance.
- Onboard a fast and flexible IC System that adapts as rapidly as your business grows
- Provide participants with trustworthy, timely and easy-to-use IC Reports
- Adopt expertly tailored and rigorously modeled IC Plans and Quotas
- Ensure plans are aligned with corporate objectives
Real-World Tools & Approaches
We bring hands-on, industry-based knowledge of life science incentive compensation best practices honed through a long history of managing plans across a spectrum of organizations. This enables us to present and tailor IC and quota design, implementation, sales contests and SPIFF’s (immediate bonus for sales made).
Specifically, we provide:
Modeling and testing of IC plan designs to ensure maximum sales force engagement and budget stewardship
IC plan implementation linked to operations ensuring accurate payouts and rankings
Well-written policies and rigorous governance of all IC facets to safeguard compliance
Rigorous quota modeling that delivers challenging, yet attainable and well-understood territory sales goals
Want more information?
Contact us to learn how Precision Analytic Solutions can help Transform your Commercial Operations