Replace legacy systems like spreadsheets and Excel with modern incentive compensation software that provides end-to-end features and functionalities to run your comp plans aimed at significantly reducing the time and cost spent in managing incentive compensation programs.
What is Incentive Compensation Management?
Incentive Compensation Management (ICM) refers to the strategic approach and processes used by organizations to design, implement, and manage variable pay programs for employees. This type of compensation is typically linked to performance metrics and aims to motivate employees to achieve specific business goals, enhance productivity, and drive overall organizational success.
Why is a modern ICM solution essential?
Compass brings you a holistic approach to managing your sales incentive programs and enables you to increase sales velocity:
Align seller behavior toward revenue goals
Create performance-driven custom incentive structures within Compass and provide complete transparency in the calculation logic and potential earnings upon closing each deal.
Identify the effectiveness of your incentive plans
Analyse and measure how well your incentive compensation plans worked with your customer-facing team with real-time insights, plan comparison reports, and robust dashboards.
Forecast budgets with the power of AI
Our AI algorithms can analyze extensive historical data, including past sales, commission payouts, seasonal trends, and economic indicators. By understanding past performance, Compass can identify patterns and generate accurate forecasts.
Stay 100% compliant with an automated system
Automate compliance filing of standards, including ASC 606, IFRS 15, etc. Track commission expenses with pre-built reports and automated dashboards, including amortization schedules, statements, comparisons, etc.