Discover how Medicomp slashed time and moved to a fully automated sales-commission calculation process with Incentivize.
Company
Since 1981, Medicomp has been at the forefront of the cardiac telemedicine industry — pioneering new technology, improving existing technologies, and adding new applications. Medicomp develops, manufactures, and provides service with the most reliable and sophisticated ambulatory heart-monitoring systems in the world.
Industry
Technology
Key Business Outcome
75% reduction in time
Medicomp reduced time spent managing sales commissions while modernizing their sales incentive management program.
Prior to the switch to Leaptree, Medicomp was using excel spreadsheets to manage complex sales commission reporting and calculations. This was incredibly time-consuming
and resulted in a lack of confidence from sales reps concerning the payment process. Sales reps had little insight into the makeup of their deals and had no real-time updates on what they were being paid or what their progress was against quotas.
Added to that, finance leaders were spending around 16 hours a month managing sales compensation plans for a team of 30. Medicomp needed a new solution to improve efficiency, transparency, and trust among the team.
Medicomp needed a solution that would:
• Transparently showcase employee sales performance to leadership and employees.
• Automate the sales commission calculation process to save time.
• Integrate into their existing Salesforce processes.
They needed a solution that would allow them to track and determine sales commissions for its sales reps. It was able to do this with the help of Leaptree.
Medicomp chose Leaptree to improve its commission tracking processes.
Leaptree’s automation not only tracks patient enrollments as they’re created
but can also produce end-of-period records falling in line with the varying
commission rates for each team member. Sales reps now have access to
their own dashboards so they can track their performance, time to quota
attainment, and how much commission they are receiving. If needed,
employees can file disputes against inaccurate commission reports within
the system.
Sales leaders have gone from 16+ hours calculating sales commissions every month to just four hours. Approval chains have also been implemented, so leaders can efficiently review commission reports before they are paid out to employees. Since Leaptree is a Salesforce native solution, Medicomp is assured their data is secure as they don’t have to deal with external apps and APIs. Another benefit is that Medicomp is able to use its own custom Salesforce objects. Randall Martinek, EVP of
Commercialization for Medicomp next plans to use the Leaptree Analyze add-on
to model future compensation outcomes and “what-if” scenarios.
“We’re really glad we made theswitch to Incentivize and I’d highly recommendLeaptree to other sales leaders.”