- Global/Regional Management overviews provided within 1 hour
Overview of the Client
Our client is a global industry leader specializing in tooling and wear-resistant solutions, catering to diverse customer needs across the globe. Their extensive product range serves various sectors such as Aerospace, General Engineering, Transportation, Earthworks, and Energy.
Business Challenges and Objectives
- The system was inflexible and rigid, not allowing for future state simulations.
- It did not easily integrate with other Organizational Reporting Systems.
- The system was unable to accommodate the compensation of multiple individuals.
- Other issues with the system included:
- Unable to adapt to organizational and compensation changes
- Lack of transparency due to structural limitations
- No automatic complaints management and tracking system
- The TekLink Team was assigned to develop the Global Compensation Systems, Accruals, Forecasting, Auditing, Reports, and Pay-outs.
- Additionally, the Team was tasked with creating real-time transparency, visibility, and clarity regarding compensable quota performance.
- Simplified system with real-time financial metrics aggregation allows easy filtering by customers, sales, employees, and other entities.
- Flexible adaptation to changes in Financial metrics, Seasonality, and other parameters, ensuring the system remains up-to-date.
- Minimized human intervention for improved efficiency, allowing users to focus on high-value tasks.
- Enhanced functionality to calculate accruals on the first day of the month, providing accurate financial insights from the start.
- Advanced capability to calculate performance to plan for multiple sales roles, streamlining compensation processes for greater efficiency.
- Maximum transparency enables SIP participants to gain a precise understanding of their compensation basis daily.
- In-built Complaints Management Workflow integrated within the tool, facilitating streamlined issue resolution and customer satisfaction.
Business Outcomes and Benefits
- Real-time visibility of daily, monthly, quarterly, and yearly performance to Quota/Margin/Others.
- Fully integrated single-global solution for seamless operations.
- Global/Regional Management overviews were provided within 1 hour, compared to the previous system’s 1-day delay.
- Reduction of closing efforts for Accruals by one day.
- Simplified Daily Reporting Updates, including Quota and Achievement with customer detail for SIP Eligible Employees.
- Managerial Reporting for Team Achievement.
- Global Reporting showcasing achievements by individual regions.