Client Stories

Colt races towards better sales performance with IBM

Share this post:

Motivating sales teams with commission payments is central to many organizations’ success, and at Colt Technology Services we’re no different. In today’s unpredictable marketplace, it’s more important than ever to be able to adjust sales compensation programs in line with changes in strategy.

However, as we grew, it became more difficult to scale up and adapt our bespoke compensation system – hampering the way we incentivized our sales teams.

To prevent us getting overtaken by more agile and energized competitors, we began looking for a more flexible and transparent solution. We wanted a tool that we could change without external support, and that was cloud-based, so we didn’t have to purchase and maintain the underlying infrastructure.

On two occasions, we chose IBM Sales Performance Management. First, a few years ago, because it provided the optimal blend of reliability, functionality and intuitive use. And again, during our most recent tender, because it equaled the capabilities of the next-best option but at a significantly lower deployment cost.

IBM Sales Performance Management supports commission payments for 650 of our sales reps, and 200 agents. It allowed us to move to a top-down approach to setting targets to correspond with budget and business priorities, driving up efficiency and accuracy. Sales reps and managers benefit from more comprehensive reporting and every update to the solution introduces improvements to the look and feel of the system.

What’s more, with a more powerful sales commission system, a relatively lean team can service our needs as we expand. To illustrate, we added 150 reps to our commission plans when the company made an acquisition in Asia with no extra manpower, equating to a large cost saving.

Naturally, sales reps carefully check their compensation payments for each deal. As they are now 100 percent confident in the accuracy of our commissions system, any unexpectedly low payments point to an error elsewhere – for example, we can spot anomalies in our billing calculations.

The solution also provides a more detailed audit trail for our essential target-setting program, so we can easily identify the root of most problems. It sheds light on how much effort managers put into adjusting targets each year, so we can be sure that a crucial process is getting due attention.

Today, Colt’s sales compensation team can spend far less time on administration and focus instead on the bigger picture: strategy. Innovations such as new incentives can be put into action much faster, on a global scale. Already, we have introduced league tables to highlight our best performers; including some gamification. With IBM Sales Performance Management, we have the time and control to be imaginative when it comes to getting the best out of our sales force.

Read the case study for more details about Colt Technology Services.

Learn More about IBM Sales Performance Management.

Sales Compensation Director at Colt Technology Services

More Client Stories stories

Why real cross-channel payment data integration matters

According to the 2019 AFP Payments Fraud & Control Survey, Automatic Clearing House (ACH) payment fraud increased significantly in 2018, reaching a new record with 82% of organizations reported incidents. Specifically, the percentage of companies that encountered ACH credit fraud jumped to 20% (from 13%), and those who experienced ACH debit fraud rose to 33% […]

Continue reading

Beware of data “science projects” turned fraud prevention solutions

As e-commerce has revolutionized the way we buy and sell online, we are no longer bounded by borders or time zones. Goods can be purchased from anywhere around the world at any time of day. Because of this, traditional rules-based fraud detection systems have become outdated and no longer work. Today, real-time payments require real-time […]

Continue reading

Stemming the AML crisis and seeing immediate value with AI

When it comes to AML compliance, or the lack thereof, the financial industry is having rough year. A number of money laundering schemes have come to light, including the $8.8 billion Troika Laundromat, which have exposed or implicated a large swathe of the industry. Despite wide talk of deregulation, penalties from Office of Foreign Assets […]

Continue reading