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Sales Incentive

The document outlines a study on the effectiveness of the Sales Incentive Plan (SIP) at SKF, highlighting its strengths, areas for improvement, and recommendations for automation and communication enhancements. Key findings indicate challenges such as unclear communication and manual processes that hinder real-time visibility and accuracy. Recommendations include workshops, benchmarking, and improved dashboard visibility to foster transparency and trust among stakeholders.

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shubhagarwalbko
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19 views13 pages

Sales Incentive

The document outlines a study on the effectiveness of the Sales Incentive Plan (SIP) at SKF, highlighting its strengths, areas for improvement, and recommendations for automation and communication enhancements. Key findings indicate challenges such as unclear communication and manual processes that hinder real-time visibility and accuracy. Recommendations include workshops, benchmarking, and improved dashboard visibility to foster transparency and trust among stakeholders.

Uploaded by

shubhagarwalbko
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Designing and delivering

sales incentive plan


automation and studying SIP
& it’s effectiveness

Presenter: Kavya Choudhary


Project Manager: Harman Singh
Project Objectives

Findings
AGENDA • Strengths of SIP
• Area of Improvement

Recommendations
• Area of challenges & need analysis
Learning the basics of sales incentive.

Project
Study of the SIP at SKF and its
Objectives effectiveness

Automation of SIP dashboard.


Study on sales incentive
plan and its
effectiveness

Method Used: Open ended discussion with


segment/business heads and PX via pre-determined
questionnaire.
Driving the right and expected
behavior.

Clear and realistic


KPls.
Inclusion of some related functions
outside sales in SIP (like CS, some
STRENGTHS people from controlling).

Continuous refining of the policy.

5. Creates a healthy
competition.
Communication Align the goals and
about calculation is parameter and their
Some parameters in
unclear leading to Understanding of SIP being a very
SIP are not in direct weightages across all
confusion among TRUE UP is not very large part of the
control of the related functions and
the employees. clear. total CTC.
salesperson and it employees.
may demotivate the
salespeople.

No individual Limits Payability: SIP


The policy is
trackers: Regular comes into play after True down was
AR & PLP should be assumed to
visibility of where 80% of the sales noticed which
visible more often, be complicated
an individual stand is achieved, yet other caused
so employees know with many clauses,
is not available parameters like PLP demotivation.
where they are at. unlike simpler ones
(Dashboard) are equally weighted.
in other regions
with lesser
parameters.

AREA OF IMPROVEMENT
RECOMMENDATIONS
Workshops
Benchmarking (with
(Collaborative,
other companies in the
regular &
market)
refreshers)

Continuing the open &


supportive
communication

Trend Analysis (Past &


Visibility via dashboard
present)
Designing and Delivering
sales incentive
automation
Method:
• connecting with controllers
• contacting external vendor
• connecting with IT team for internal Platform
• supporting the stakeholders in automation
Manual customer mapping: Data is highly volatile
with frequent changes in the mappings.

AREAS OF Manual SIP Payout calculation: Manual calculations


increases the chances of error.

CHALLENGES
Unavailability of real time data causing lack of
visibility: Employees are unaware of where they stand
in real time.
To increase the accuracy of To make the process more
the calculations and reduce efficient, smooth and less-
chances of error. time consuming.

NEED
ANALYSIS
To make real time data To maintain transparency
visible to the in order to build trust.
stakeholders.
SAP (Invoice and
Customer SDW (Database)
OB)

Customer Master Actual (will change daily) Quarterly


(ABC customer Numbers coming from SDW Target csv
mapped to xyz)

Sales, PLP Sales, PLP, AR


Group Inventory
Actual Data (excel
Group OM
file)
AR Power BI (representation)
Group Inventory
Group OM
Output : Daily
Snapshot
Row Level security
1. 123 – Sarang – x
file (IT team)
2. Xyz-Sarang-4242
THANK YOU

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