Author: Lizzy Wolff
One of the leading Hawaiian healthcare organizations has decided to streamline operations through the integration of incentive compensation management (ICM). The company signed on with CallidusCloud and is using the vendor's ICM solution. CallidusCloud signed the agreement with the healthcare provider during the third quarter of 2012.
"Our ICM offering is designed to offer insurance companies unparalleled visibility into the performance of their sales, agents and producers," said Leslie Stretch, president and CEO at CallidusCloud. "ICM also delivers significant time and cost efficiencies by automating bonus and compensation processes."
Some healthcare organizations have been integrating ICM and sales performance management (SPM) solutions as a means of improving activities within their sales departments. The technology allows them to gain more insight into how their sales teams are performing, which can help them set relevant business goals.
CallidusCloud's ICM solution seems to be particularly popular among healthcare organizations. Last month, two major providers of Medicare and basic health plans also signed up with Callidus. Overall, more than 112 players in the healthcare sector are utilizing CallidusCloud's ICM solution to develop better awareness into the performance of affiliate partners and automate time-consuming tasks, such as the payment of commission and bonus plans.
"Leading companies continue to turn to CallidusCloud to automate their sales processes," added Tom Davis, vice president of sales and marketing of insurance at CallidusCloud.
However, the benefits of ICM aren't just limited to healthcare organizations. Companies across a number of industries could improve by implementing this technology. Many businesses are looking to do more with less, and in that kind of mindset, time is at a premium. ICM expedites tasks that are often assigned to critical employees, enabling them to use their time on more valuable activities.
One often-cited concern about the integration of ICM and SPM solutions is the upfront cost of these platforms - the contrast may be even more evident if businesses are currently using generic software, such as Microsoft Excel.
In many cases, however, these solutions can save money in the long run. If there is any resource that is more valuable than money, it is time. The right ICM software often pays for itself based on the amount of time it can save upper-level employees, such as sales managers.