Tektronix wanted to compensate and motivate its worldwide salesforce. The company set out to replace its regional management solutions and find a more efficient way to model its global financial sales.
Case Study Snapshot
Solution: Incentive Compensation
- Real-time insight into compensation for salespeople
- Reduces central overhead for administration
- Automated reporting delivers a complete global financial picture
Implementing Varicent SPM, Tektronix has centralized reporting and analysis of its incentive compensation programs.
Varicent Incentive Compensation Management (ICM) removes friction from the compensation process, accelerates the ability to make plan changes and adopt new strategies, and enables new insights to outdo previous performance.
The company looked for a business partner that would understand its compensation management objectives and bring both commercial and technical expertise to the table. For the task, Tektronix selected Varicent, based on its wide range of capabilities and the advantages of choosing a cloud-based solution, which would free Tektronix from the expense and complexity of deploying servers at multiple offices. Varicent provides the essential functionality required by Tektronix. For example, using a web browser, a salesperson can log in to a personal portal to view compensation results, while sales managers can track individual and team performance. The solution automates compensation calculations, and provides transaction-level detail, offering an easy way for administrators to correct errors while maintaining the calculation integrity of the process.
• Real-time insight into compensation for salespeople
• Reduces central overhead for administration
• Automated reporting delivers a complete global financial picture
• Real-time calculations help the finance team work efficiently
• Engages sales teams, who enjoy full visibility of commission calculations
• Saves time for the IT team by adopting a SaaS approach
Tektronix designs and manufactures test and measurement solutions to help engineers break through the walls of complexity and accelerate global innovation. The company’s solutions empower engineers in many technical areas, such as health, communications, mobility and space. Tektronix has a global footprint, with more than 72 years in the test and measurement industry.