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Increase Financial Firms' Sales 
Performance & Compliance with 
Compensation Management 
facebook.com/perficient 
twitter....
About Perficient 
Perficient is a leading information technology consulting firm serving clients throughout 
North America...
Perficient Profile 
• Founded in 1997 
• Public, NASDAQ: PRFT 
• 2013 revenue ~$373 million 
• Major market locations thro...
BUSINESS SOLUTIONS 
Business Intelligence 
Business Process Management 
Customer Experience and CRM 
Enterprise Performanc...
Introduction 
Hemant Jaiswal 
Director of Financial Services, Perficient 
Hemant has more than 15 years of experience in i...
Industry-Driven Solutions Global Delivery Centers/Offshore Delivery 
Deep Financial Services Domain Expertise 
Deep Financ...
Impact on Financial Institutions
Compensation Regulation 
Considerations
Compensation Regulation Considerations
Relationship of Compensation & Risk 
Compensation and risk must be 
tied together. The risk taker who 
bets firm or client...
Current Compensation Environment 
How are companies 
currently calculating 
variable compensation? 
CSO Insights - 2013 Sa...
Limitations of Existing Solutions 
Spreadsheets Home Grown Manual 
 Labor intensive 
 Non-centralized 
 Error prone 
 ...
What is in an SPM Solution? 
Central Database 
Hosted locally or in the cloud 
a single database contains the 
entire solu...
Benefits of SPM Adoption 
Reduce errors 
Shorten cycle times 
Replace technology 
Mergers & Acquisitions 
New Comp Plans 
...
Cognos ICM
What is ICM? 
Incentive 
Compensation 
Build, model and administer 
variable pay programs that drive 
desired sales behavi...
Addressing Compensation 
Regulation Challenges 
Incentive 
Compensation 
Guidelines 
Clawbacks 
and 
Forfeitures 
Risk Man...
Technology 
System 
Upgrades 
Operate 
with 
Uncertainty 
Centralize all 
compensation processes 
into a single system 
wh...
Industry: Banking 
Sales Force: 5,000 payees 
Case Study: Bank of the West 
Challenges: Communicate role-specific sales in...
Industry: Financial Services 
Sales Force: 3,200 
Case Study: Elavon 
Challenges: Multitude of home grown systems created ...
Questions?
Download our White Paper: 
http://www.perficient.com/Thought-Leadership/White-Papers/2014/Overcoming-Strategic-Challenges-...
Thank You! 
For more information contact: 
Chris Skinner 
Chris.Skinner@perficient.com 
Hemant Jaiswal 
Hemant.Jaiswal@per...
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Increase Financial Firms' Sales Performance & Compliance with Compensation Management

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Financial services and banking organizations are challenged with aligning sales performance with corporate goals to drive business growth. In addition to financial performance, one of the largest challenges financial institutions face today is managing the balance of meeting regulatory requirements without potentially disrupting performance.

To help your organization manage performance and risk data against regulatory reporting requirements, you need to develop an enterprise-wide governance structure to gain control over sales channel compensation programs.

In this webinar, our experts covered:

-Challenges around sales performance, Dodd-Frank and compensation governance in financial services
-Industry-focused use cases and best practices for sales performance management solutions
-Case studies of leading financial institutions implementing sales performance and compensation management

Our experts also demonstrated how IBM Cognos Incentive Compensation Management enables organizations to achieve operational efficiency and reporting accuracy, greater data transparency, reduced risk and detailed sales performance analytics.

Veröffentlicht in: Technologie
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Increase Financial Firms' Sales Performance & Compliance with Compensation Management

  1. 1. Increase Financial Firms' Sales Performance & Compliance with Compensation Management facebook.com/perficient twitter.com/Perficient_IBM linkedin.com/company/perficient Twitter.com/Perficient_FS
  2. 2. About Perficient Perficient is a leading information technology consulting firm serving clients throughout North America. We help clients implement business-driven technology solutions that integrate business processes, improve worker productivity, increase customer loyalty and create a more agile enterprise to better respond to new business opportunities.
  3. 3. Perficient Profile • Founded in 1997 • Public, NASDAQ: PRFT • 2013 revenue ~$373 million • Major market locations throughout North America • Atlanta, Boston, Charlotte, Chicago, Cincinnati, Cleveland, Columbus, Dallas, Denver, Detroit, Fairfax, Houston, Indianapolis, Los Angeles, Minneapolis, New Orleans, New York City, Northern California, Philadelphia, Southern California, St. Louis, Toronto and Washington, D.C. • Global delivery centers in China, Europe and India • >2,100 colleagues • Dedicated solution practices • ~90% repeat business rate • Alliance partnerships with major technology vendors • Multiple vendor/industry technology and growth awards
  4. 4. BUSINESS SOLUTIONS Business Intelligence Business Process Management Customer Experience and CRM Enterprise Performance Management Enterprise Resource Planning Experience Design (XD) Management Consulting Our Solutions Expertise TECHNOLOGY SOLUTIONS Business Integration/SOA Cloud Services Commerce Content Management Custom Application Development Education Information Management Mobile Platforms Platform Integration Portal & Social
  5. 5. Introduction Hemant Jaiswal Director of Financial Services, Perficient Hemant has more than 15 years of experience in information technology and management consulting, advising a large cross-section of Fortune 500 clients in financial services. He manages Perficient’s wealth management vertical. Chris Skinner Incentive Compensation Management Solution Architect, Perficient Chris is an industry expert in sales performance management and incentive compensation management, with more than 10 years of variable compensation plan design, configuration, reporting and solutions experience.
  6. 6. Industry-Driven Solutions Global Delivery Centers/Offshore Delivery Deep Financial Services Domain Expertise Deep Financial Services Domain Expertise Enterprise Information Solutions Finance Enterprise Insights Portal Web Content Social Solutions SOA Cloud API Solutions Company Wide Practices BANKING Wholesale Consumer Credit Unions Payment Processing Trust & Custody Trade Services Treasury Services ASSET & WEALTH MANAGEMENT Equities & Fixed Income SMA & Wrap Hedge Funds OMS & EMS Portfolio Modeling Portfolio Accounting CAPITAL MARKETS Equities & Fixed Income FX & Commodities Future & Options Electronic Trading INSURANCE Investments Customer Acquisition Property & Casualty Life Annuities Services Claims Evaluation Underwriting Consumer Direct Business/ Technology Solution Rationalization and Delivery Business Process Improvement Program Value, Quality and Cost Management Client Centricity Risk and Regulatory Compliance Finance Transformation Solutions & Services
  7. 7. Impact on Financial Institutions
  8. 8. Compensation Regulation Considerations
  9. 9. Compensation Regulation Considerations
  10. 10. Relationship of Compensation & Risk Compensation and risk must be tied together. The risk taker who bets firm or client capital must bet their current and future compensation.
  11. 11. Current Compensation Environment How are companies currently calculating variable compensation? CSO Insights - 2013 Sales Compensation & Performance Management, Key Trends Analysis Spreadsheets 54% Home Grown (22%) Commercial Software (14%) Manual (7%) Analyst estimates of variable compensation overpayments range from 2% to 8% (Accenture: 3%-5%; Deloitte: 4%-7%; Gartner: 2%-8%) Company with $30M in variable comp will overpay $600k to $2.4M every year
  12. 12. Limitations of Existing Solutions Spreadsheets Home Grown Manual  Labor intensive  Non-centralized  Error prone  Lack of auditing or reporting  Custom coding that few fully understand  Aging legacy systems  Difficult to update  Rely on additional software for reporting  No automation  No functionality
  13. 13. What is in an SPM Solution? Central Database Hosted locally or in the cloud a single database contains the entire solution Calculation & Reporting Automation of compensation and analytics calculations. Custom web reports display any variety of outputs Administration Provides audit tracking, inquiry management, approval workflows Integration Existing client transactional and HR data pulled in seamlessly $ £ € Integration Calculation Database Administration
  14. 14. Benefits of SPM Adoption Reduce errors Shorten cycle times Replace technology Mergers & Acquisitions New Comp Plans Business Re‐Orgs Risk Reduction Internal Audit Compliance Dodd‐Frank Business Enablement Efficiency & Accuracy
  15. 15. Cognos ICM
  16. 16. What is ICM? Incentive Compensation Build, model and administer variable pay programs that drive desired sales behavior Channel Management Gain a single, accurate view of your entire sales force and all your distribution channels Territory Management Manage crediting and frequent sales coverage changes across territories Territory Management Quota Management Channel Management Incentive Compensation IBM Cognos ICM Varicent Quota Management Plan and distribute quota targets efficiently across all levels of your sales organization ERP CRM HRIS $£ € BI Other
  17. 17. Addressing Compensation Regulation Challenges Incentive Compensation Guidelines Clawbacks and Forfeitures Risk Management Processes and Controls Communicate appropriate plan documentation to every payee and track their review and acknowledgment. Automate the recovery of earnings previously paid out on investments now identified as having gone bad. Multiple solutions for risk management and compliance requirements: • Workflow • Inquiry Management • Auditing
  18. 18. Technology System Upgrades Operate with Uncertainty Centralize all compensation processes into a single system whose backend will be dynamically upgraded in the cloud to ensure an appropriate level of support for any level of complexity. Federal regulators have already approved ICM as a solution for these requirements. Balance Risk Versus Reward Modeling of future plan changes and “what-if” scenarios to aid in the development of proper plan designs. Addressing Compensation Regulation Challenges
  19. 19. Industry: Banking Sales Force: 5,000 payees Case Study: Bank of the West Challenges: Communicate role-specific sales incentives to thousands of employees across multiple geographies. Reliance on multiple legacy solutions created inefficiencies. A lack of reliable and timely reporting led to the employees performing their own “shadow accounting” Why ICM?: Ability to centralize data shared across all compensation plans Solution Benefits:  Increased transparency in incentive tracking  Payees have online access to real time reports  Increased accuracy greatly reduced number of compensation inquiries  Ease of compensation plan design changes  ICM analytics assist in smarter compensation plan design http://www-03.ibm.com/software/businesscasestudies/us/en?synkey=T961508R00948T94
  20. 20. Industry: Financial Services Sales Force: 3,200 Case Study: Elavon Challenges: Multitude of home grown systems created an IT-intensive and expensive solution Why ICM?: Ease of design, “on the fly” scenario configuration and web based reporting Solution Benefits:  Compensation admins no longer rely on IT to make regular adjustments to the system such as adding new product lines  All results are now visible within 48 hours of closing a month instead of over two weeks for partial results  Multi-language support allows reports to be distributed to non-English regions  Automated dispute resolution follows a hierarchy-based workflow http://www-03.ibm.com/software/businesscasestudies/us/en?synkey=Z298172W48404B43
  21. 21. Questions?
  22. 22. Download our White Paper: http://www.perficient.com/Thought-Leadership/White-Papers/2014/Overcoming-Strategic-Challenges-of-Dodd-Frank • Components of Dodd-Frank and various guidance principles issued by the Federal Reserve Board (FRB) and other regulatory bodies • Sales performance management (SPM) as a solution to address these regulations • Benefits of implementing IBM Cognos Incentive Compensation Management (ICM) as a solution to meet the regulatory requirements and guidance principles
  23. 23. Thank You! For more information contact: Chris Skinner Chris.Skinner@perficient.com Hemant Jaiswal Hemant.Jaiswal@perficient.com www.perficient.com www.facebook.com/perficient www.twitter.com/Perficient_IBM www.twitter.com/Perficient_FS

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