Launch comp plans faster
For large-scale companies, incentive plans and sales crediting can be quite complex. There can be a seemingly endless set of inputs and parameters, complex crediting chains, returns, callbacks, as well as large transaction volumes.
NICE ICM lets you roll out new compensation plans – no matter how complex - in days, rather than months, and dramatically cut your administration and IT costs.
IT-free compensation plan creation
Creating, consolidating or updating incentive compensation plans need not be a time-consuming task, relegated to your IT team.
NICE ICM provides your administrative team the flexibility to accommodate variable compensation and the simplicity to facilitate easy updating. You can:
- Import data using built-in ETL tools
- Model plans with visual tools
- Use Excel-like compensation calculators
- Apply role-based personalization
- Design interactive pages with graphical layout tools
Sales Compensation Modeling and forecasting
- Comp planners: can view the effect of existing plan A vs. future comp plan B
- Finance/CFO - can forecast future commissions
- Comp analysts/planners - can perform annual plan design
- Run scenarios against current actuals and/or tweak the actuals based on increases or decreases to the actual values.
NICE SPM modeling allows business users to select existing plans and payees to model. Users can also create brand new components to model prior to having them in production.
Automate sales operation processes
Use built-in customizable workflows to easily automate manual sales operation processes, improving efficiency, speed, and manageability. This includes:
- Compensation plan acceptance
- Quota and objectives management
- Dispute resolution
- Payroll processing
- Contract updating
Sales reps can file disputes or sign contracts directly from their mobile devices, sending the data automatically to the back office. Compensation inquiries are also handled swiftly, with any question submitted from a payee’s device sent directly to the relevant manager or compensation team.