Solutions for Banking & Finance Industry
We understand that today's banking industry is a challenging space to maintain sustainable revenue growth. With increasing regulatory pressures, intense global pressures and the market's expectation for flawless consumer experience, the banking industry is continually evolving to accommodate its needs.
Banks often struggle to manage a proliferation of incentive plans with a large number of variables such as revenue, product lives & seniority. Inefficient management incentives leads to data accuracy issues resulting in high costs and low margins.
Constant regulatory changes and mandates such as ASC 606, Dodd-Frank & Federal Reserve’s Guidelines on incentive compensation have made it imperative for banks to govern, monitor, audit and report on their incentives with more detail than ever.
Data accuracy issues & lack of data transparency quickly instill deep distrust in employees resulting in productivity drain, higher employee attrition and an increased burden on the compensation administration team.
Plan Evaluation and Costs
Banks need to implement industry and domain best practices to ensure they sustain revenue growth. Without self-sufficient business users, IT costs can become a constant, heavy drain on the bank’s resource.
Learn more about our solutions for the Banking & Finance Industry
Our SPM Solutions
Incentive Compensation Management
Align your sales teams and strategic objectives to achieve desired revenue targets, comply with regulatory standards, and adapt to market changes quickly and efficiently.
Territory & Quota Management
Efficiently create, monitor, and align quota and territory assignments with your business strategy. Simplify and automate your complex tasks with powerful workflow solutions.
Data Analytics & Visualization
Gain insight & visibility into mission critical metrics such as performance trends, compensation drivers and revenue flow with advanced reporting and ad-hoc analysis.
“Over 2.5 quintillion bytes of data are created every single day, and it’s only going to grow from there. By 2020, it’s estimated that 1.7MB
Artificial intelligence based on machine learning can help compensation managers in many ways – to provide support for decision making grounded in analytics, to allocate
Data, data everywhere. For many companies, one of the greatest challenges in recent times has been deriving accurate, actionable insights from data. Most businesses gather
Remove Bias In Data Analysis In this age of augmented intelligence, human reasoning remains the critical element in painting a coherent picture through available data.
“Forrester made waves with a report that said that 20% of B2B sales jobs – 1 million in total – would disappear by 2020,” says
COVID-19 has forever changed the way companies do business. While the onset of the pandemic blindsided many organizations, no company has been spared its effects