Types Of Compensation Models
Organizations can use a variety of compensation models. But which one is best for your business? This is determined by a number of factors, including the size and structure of
Solutions for Healthcare
Boost revenue production by predicting footprint growth accurately. Motivate medical liaisons to outperform goals by optimizing goal setting. Manage compliance & audit requirements effortlessly.
Benchmarking & Goal Management
Predicting footprint growth is largely dependent upon accurately benchmarking revenue production.
Manual benchmarking & communication is inherently error-prone, time-consuming & directly impacts liaison confidence in the company.
Regulatory Compliance & Audit Reporting
Strict regulations such as HIPAA highly influence compensation design & management in the healthcare industry. Robust data monitoring & accurate audit reporting is a crucial necessity in ensuring regulatory compliance.
Data & Decision-Making
Healthcare companies are still using outdated systems such as Excel for their financial planning and compensation administration. Without a central source of truth and robust tools to manage the FP&A and incentives processes, it is difficult tor provide high-quality insights for decision-makers and timely payouts for a multitude of employees.
Planning & Operational Inefficiencies
Healthcare providers are shifting from a volume-based to a value-based care model. This requires existing planning processes to become much more performance driven and dynamic by seamlessly collaborating across stakeholders, such as department heads & administrators, and adopting a broader, predictive view.
Our SPM and EPM solutions enable your institution to boost revenue production whilst managing compliance & audit requirements
InnoVyne Solutions
Drive accelerated top-line growth by aligning sales behavior to sales outcomes. Empower your sales teams to outperform targets by optimizing territories, quotas and compensation plans for maximum effectiveness and complete visibility into performance trends.
Turn Financial Planning & Analysis (FP&A) into an advantage. Realize transformative business value by responding to market changes with agility and resilience with collaborative planning, always-on forecasting & predictive financial intelligence.
InnoVyne Insights
Shadow accounting and its impact on sales effectiveness
As sales reps, you’re likely juggling many things. You’re keeping track of pipelines and funnels, trying to close that one deal, and working through different business development measures. Incentive compensation
U.S. Bank Success Story
Success Story: U.S. Bank Achieves Process Automation & Operational Efficiencies “We used to have 35 people running incentive calculations for our mortgage department. We have now consolidated the process to