In a changing marketplace, companies must adjust their incentives compensation programs to reflect shifting priorities. To meet these needs as it grew, Colt wanted a more flexible management tool.
With Varicent Sales Performance Management, Colt simplified development and adjustment of commission plans, and enabled more detailed reporting for sales teams and management.
Case Study Snapshot
Solution: Incentive Compensation
- 30% sales team growth accommodated with no change to compensation team size
- Boost accountability contribution to more effective compensation plans
- Ramps up efficiency and agility, diverting time to strategy and innovation
With a more efficient approach to incentive compensation management, Colt saves time that can be diverted to higher-value activities. It also gains the agility to put changes into action faster, which is a key competitive advantage. “We still devote the same period to developing our commission plans each year, but now we use that time so much more effectively,” explains Thierry Casier Sales Compensation Director, Colt Technology Services. “Rather than focusing on administration, we can direct more attention to strategy and innovation.” He adds: “For example, we can easily launch new incentives across the organization, worldwide.”
Armed with the Varicent solution, Colt's relatively lean sales compensation team can keep pace with new demands as the company grows. Colt employees are confident in the accuracy of the commissions system, helping to highlight errors in other processes and inspiring greater accountability, as Thierry Casier explains: "When our reps make a sale, they generally check their compensation payments afterwards. If the payment is lower than expected, they know something has gone wrong elsewhere, as they trust the figures produced by Varicent. In this way, we pick up on mistakes with billing, helping to ensure that we charge customers the correct fees."
• 30% sales team growth accommodated with no change to compensation team size
• Boost accountability contribution to more effective compensation plans
• Ramps up efficiency and agility, diverting time to strategy and innovation
Colt Technology Services Group Limited (Colt) aims to be the leader in enabling customers’ digital transformation through agile and on-demand, high bandwidth solutions. Headquartered in London, UK, it has offices in Europe, Asia and North America.