Challenge

After the financial crisis of 2008, Zions Bancorporation needed a flexible, efficient system that was able to centralize how they track incentive payments and provide approvals for payments in order to adhere to new, and ever-changing, federal regulations. They sought a system that would save them time, boost efficiencies, and allow for easy reporting.

Case Study Snapshot

Solution: Incentive Compensation

• Improve collaboration across multiple departments
• Increase efficiency with a customizable solution
• Reduce risk by ensuring compliance

Solution

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.

Results

Varicent ICM helped Zions Bancorporation maintain compliance and enhance their internal structures and forecasting through easy-to-understand reports, while streamlining communications for various stakeholders. The team at Zions Bancorporation has created their own set of workflows given the unique structure and demands of their industry.

• Improve collaboration across multiple departments

• Increase efficiency with a customizable solution

• Reduce risk by ensuring compliance

About

Zions Bancorporation is a bank holding company headquartered in Salt Lake City, Utah. It is one of the nation's premier financial services companies. The company is a national leader in small business administration lending and public finance advisory services.