Incentive Management

Incentive Management

 

Align Incentive Plans and Variable Compensation with Business Objectives

 

Incentives and variable compensation can be among the most important drivers of individual performance. By aligning rewards for individual activities with strategic objectives, incentive compensation management delivers significant strategic and financial value.

 

Managing complex incentives is extremely difficult. Integrating and processing large volumes of event-level data, ensuring accurate date-effectivity of compensation plans, managing the dispute process and allowing rapid plan updates at scale often limits opportunities to optimize the impact of incentive programs.

 

NICE Incentive Compensation Management enables organizations to optimize their incentive programs by automating processes and providing an end-to-end ability to create, manage and distribute all aspects of a commissions program.

NICE Incentive Compensation Management has at its core these best-in-class functionalities:

  • Innovative calculator functionality that is powerful and easy to use; based on single-screen, Excel-like calculators
  • Advanced analytics and capabilities for a wide range of intelligent adjustments
  • Built-in quota management to generate reports on previous attainments against targets as well as make and assign comprehensive budgeting plans
  • Extensive automated workflow capabilities to define payment disputes, plan approval, payroll integration and other workflows to reduce manual work, payout errors and provide detailed audit trails
  • Flexible and efficient communication of plan changes, SPIFs, sales competitions and regulations
  • Proven scalability for the largest, most complex operations (tens of thousands of payees and millions of events per day)