The most significant part of operating costs emerging at financial institutions (banks, insurance companies) consists of sales related payments (like salaries, bonuses, other allowances), which tend to reach or pass 60-70% of all costs, according to surveys.
Taking this fact into consideration, it is quite understandable that control over the commission / incentive system and its efficient use has strategic importance in the group of companies operating
- What business plans are supported by the current or planned incentive system?
- What do incentive and compensation programs cost and how these costs harmonize with the flow of revenue?
- Is the payment of commission performed according to plans?
- Within how much time can the incentive plan complying with sales objectives be defined?
- Can the calculations behind the allowances be audited?
- Are the objectives to increase the preciseness of payments? What damages are caused by overpayments or underpayments?
- With what expenditures can the efficiency of sales and expenditures be analyzed? Can the possibilities of system change be seen?
- What would be the result of the change?
- How much time do salespeople spend to understand and to check their compensations?
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