Integrated workflow management allows for:
Users can easily setup and maintain custom approval hierarchies, groups, email notifications, status, escalation, file attachments, and other custom functions
Users can apply stock features “out-of-the-box” or create custom features for managing Worksheets, Document approvals, and HR actions
Integrate processes with overall auditing and reporting, so Sarbanes-Oxley compliance can be easily managed
Enhanced Buy-In from Stakeholders
Stakeholders can see their merit compensation plans, how performance rewards are calculated, and their potential payouts
Setting Parameters and Rules
Companies can set rules and parameters for multiple performance and reward structures, as well as establish the timelines for the merit period
Common Workflow Scenarios:
Takes the generated payroll file and incorporates it into a worksheet attached to a workflow. The workflow can then be initiated automatically or by the comp admin for any designated request path, usually sales management, to collect the necessary approvals and comments before being submitted to a payroll provider.
Payees may initiate inquiries or disputes regarding the sales they get credit for, or the payments they receive, based on their dashboards, reports or their paycheck.
Allows payees and/or managers to set, comment upon and/or adjust Objectives for MBO and KPI processes.
Collects MBO or KPI information and/or comments to be used in calculating Bonuses against a plan then allows Bonuses to be adjusted, approved, and commented upon and/or balanced against a budget or allocation before being paid.
Provides a process and a database for individual and team achievements to be recorded for Bonus and/or Merit processes within organizations.
Comp Plan Acceptance
Facilitates distribution and acceptance by payees of their Comp Plan and/or any Comp Plan changes so that management has a database record that the payee has read and acknowledged the new Compensation Plan or Plan change.
Allows managers or comp administrators to evaluate and adjust credits that do not meet certain defined requirements or business rules, or to add credits that for any reason the system has not generated such as one-off splits or sales outside of a defined territory (that may not meet quota crediting requirements).
Allows managers or comp administrators to easily deal with exceptions by evaluating and approving transactions that are unusual, one-off or do not meet the standard business rules defined in the ICM system. Examples might be splits where both payees get 100% credit, reassignment of a transaction outside its normally defined territory or to a different payee, or above or below defined thresholds.
Allows managers or comp administrators to easily deal with payment or Bonus exceptions by evaluating and approving Bonuses or payments that are unusual, one-off or do not meet the standard business rules defined in the ICM system. Examples might be splits where both payees get 100% payment, reassignment of a payment to a different payee outside their normally defined territory, or above or below defined thresholds.