Sales Performance Management

Abt Electronics, Inc. simplifies rebates and co-op fund capture with IBM Incentive Compensation

Share this post:

Vendor rebates and co-marketing funds can be difficult for retailers to track and successfully capture, especially when multiple, siloed legacy systems are involved. Add tiered incentive arrangements, percentages tied to advertising activity, varied and complex parameters – along with thousands of vendor invoices – and a retailer can be left scrambling to avoid financial losses. But with an innovative use of incentive compensation management software, electronic retailer Abt solved their vendor rebate and co-op fund tracking issues.

Abt Electronics, Inc. is a large independent U.S. single-store appliance and electronics retailer. They carry tens of thousands of products in a variety of categories, including appliances, electronics, custom kitchens, furniture, mattresses, watches, fitness equipment and more. Together with IBM and IBM Business Partner WorkCentive, Abt modernized their vendor incentives tracking with an IBM Incentive Compensation Management (ICM) solution designed to speed and automate management of the many complex elements of sales commission payouts.

ICM software automates administration, calculation, reporting and analyses of incentive compensation programs. In terms of data inputs, compensation plan systems are comprised of elements like multiple product lines, pricing, tiers, parameters, quotas and territories – not unlike the inputs that a retailer like Abt deals with on the rebate and co-op side.

Deployed in six weeks, the new ICM approach has Abt focusing on running the company instead of reviewing, confirming, updating and manually calculating thousands of records. In addition to significant savings in time, Abt reports that the new system delivers automated, up-to-date accuracy and one-stop ease-of-use. IBM Business Partner WorkCentive contributed in-depth expertise of how a sales compensation management solution could be successfully applied to Abt’s specific needs.

Automated incentive management processes save time and effort by calculating compensation faster and reducing the need for manual processing. They also cut the risk of errors. With IBM ICM, sales management and compensation professionals can also view sales effectiveness reports to ensure the sales team is executing in alignment with the sales strategy. The software helps companies track the sales team’s performance to identify coaching opportunities, and to manage territory definitions and crediting rules to ensure the company has adequate sales coverage.

About ICM software from IBM

ICM improves insight with greater visibility of compensation payment analytics to drive more informed decision-making. It also handles inquiries submitted by salespeople who have questions about their commission payouts. Advanced analytics help improve sales effectiveness and ROI. In fact, Gartner research, which evaluates Sales Performance Management vendors, has put IBM ICM in their leader quadrant for six years running.

IBM ICM has a rapid deployment service that offers three editions. The essentials edition provides a core set of capabilities as an essential foundation for your solution requirements. The standard edition provides additional capabilities that meet the needs of most organizations, and the advanced edition has the most comprehensive set of capabilities to meet more complex requirements. Learn more about solutions.

Senior Product Portfolio Manager, Sales Performance Management

More Sales Performance Management stories

Accelerate sales productivity with an AI digital assistant

Digital assistants today can deliver far more services beyond sophisticated call routing. Infusion of artificial intelligence (AI) functionalities adds the potential to increase seller field time, improve sales performance and help lift HR productivity. These enhancements mean that digital assistants can positively affect business results. What it does A digital assistant with powerful AI capabilities […]

Continue reading

IBM sponsoring WorldatWork: Spotlight on Sales Comp 2019 conference

I like to learn, network, meet new people with similar interests – who doesn’t?  I especially like to learn about sales incentive compensation and how to improve sales performance.  However, there are very few conferences to attend that focuses on the field of sales compensation.  That’s why I always look forward to attending the annual […]

Continue reading

It takes two: People and performance analytics for sales compensation

Sales compensation dashboards are common, but they usually tell only half of the story. Two sides to your dashboard are available that can lead to growth: productivity metrics and people metrics, and looking at only one side gives you only half the picture. Many organizations determine if their sales compensation plans are working by gathering […]

Continue reading