(Austin, TX) – Iconixx, the industry thought leader and provider of Incentive Compensation Management (ICM) solutions, is excited to announce that SOLCOMM, a leading US direct sales firm, has adopted the Iconixx Sales solution to manage its sales incentive compensation process.
Successful Partnering with Fortune 500 Companies
SOLCOMM partners with Fortune 500 companies to expand their sales capacities through face-to-face interactions with their customers. SOLCOMM has helped its clients tackle their marketing campaigns in five US markets: Central Michigan, Northeastern Michigan, Central Ohio, along with Southwestern and Central Connecticut.
SOLCOMM has made real strides over the past few years. A number of SOLCOMM campaigns are responsible for over 50% of their partners’ new client acquisitions. In 2012 alone, SOLCOMM’s dedication to training and developing their marketing staff led to 100% sales growth.
Reviewing SOLCOMM’s Sales Incentive Process
SOLCOMM’s rapid growth overextended the capacity of its sales incentive compensation process and caused the firm to review its solution. As the company grew, SOLCOMM’s approach had some challenges, including:
- Reliance on Excel spreadsheets that were cumbersome and difficult to maintain
- Inability to provide a single source of reliable reporting data for management, finance and sales teams
- Limited ability to provide data visibility and reporting to help HR and Finance with financial planning and forecasting
- Difficulty researching and resolving sales inquiries
- Heavy administrative burden introducing weekly SPIFs
In some cases, SOLCOMM decided not to introduce certain incentive plans rather than struggle with the implementation process.
SOLCOMM began the process by evaluating key players from the market. After an initial round of generic product demonstration to representatives of the HR, Finance and IT departments, along with the company CEO and President, the company selected a short list of vendors. After reviewing each company’s products and capabilities, SOLCOMM chose Iconixx.
In particular, SOLCOMM selected Iconixx for its proven ability to:
- Ensure deeper overall functionality
- Improve data visibility for financial reporting, accurals and forecasting
- Easily change incentive compensation plans in the future and integrate new participants onto existing plans
- Perform research and resolve inquiries on performance and payments through ad-hoc queries
Throughout the process, Iconixx successfully demonstrated the value and benefits that automating the incentive compensation process would bring to the organization.
SOLCOMM will use the Iconixx solution to manage sales incentive compensation for approximately 50 payees.
CONTACT: Sathee Brent, Director of Marketing, 512-651-0100, email@example.com
Iconixx is a total solution provider for compensation management. The Iconixx product suite – Iconixx Sales, Iconixx Incentive and Iconixx Merit – makes the company a one-stop resource for sales, bonus and salary compensation solutions. Our cost-effective, Cloud-based solutions deliver incentives to the entire workforce for businesses of all sizes. Drawing on over 15 years of exepreince, Iconixx also partners with clients to accelerate their business growth through actionable intelligence. Whether it’s using Iconixx technology or leveraging a client’s current investment, Iconixx’s expertise can drive efficiencies for their compensation environment. For more information visit www.iconixx.com.
SOLCOMM is a leading direct sales firm in the Midwest and Northeastern United States. SOLCOMM partners with Fortune 500 companies to expand or extend their sales capacities through face-to-face interactions with their customers. SOLCOMM’s clients have hired the firm to tackle their marketing campaigns in five US Markets: Central Michigan, Northeastern Michigan, Central Ohio, and Southwestern and Central Connecticut. Not only have SOLCOMM helped its client partners increase market share in these areas, but SOLCOMM has proven to be an industry leader in customer satisfaction and retention as well.