Incentives Solutions implemented a solution for managing incentives at the cyber-security company Checkmarx
NETANYA, Israel, Dec. 9, 2020 /PRNewswire/ -- Incentives Solutions, which specializes in planning and managing incentives and commissions, has completed the implementation of its JOOPY Tech incentive management solution at the cyber-security company Checkmarx. The dedicated solution, which targets high-tech companies, provides Checkmarx with powerful and user-friendly tools to manage incentives of hundreds of the company's sales and customer support employees in 70 countries around the world. Incentives Solutions' product has already been adopted by many technology companies in Israel, including Amdcos, Kenshoo, Rafael and others.
The JOOPY Tech system was developed to tackle the complex challenge of managing incentives of salespeople at companies which develop and commercialize technology products and services. Often, a number of employees are involved in each deal, including the sales manager, a salesperson, a pre-sale employee, the regional product manager, the regional manager, and others. Splitting the credit for any sale between the various employees is both complex and dynamic. The dynamic nature of the high-tech market generates constant adjustments in sales targets, in the incentives, and in including new products and services. The use of spreadsheets was found to be inefficient and led to extensive manual work and inaccuracies.
JOOPY Tech offers Checkmarx an end to end solution for managing incentives of its sales force. The system initially produces a "Goal Sheet" that presents sales targets of each relevant employee as well as his or her incentives based on various scenarios. Secondly, the system's rules calculate the icentives while considering the relationship between all the various employees, including the territorial factors. Finally, the incentives determined by the system are fed into the Workflow system for approval by the relevant managers.
The system presents in real time to each member of the Checkmarx sales force the complete and exact picture of the employee's sales performance and incentives. The employee can also track in real time the accumulation of incentives and how they were calculated, as well as verify the meeting of targets and other factors. Checkmarx managers are able to produce reports that present the macro picture of both performance and incentives, to understand trends and to gain various insights. The system can adjust the parameters resulting from changes in the market, new targets, new products, and services and more. Implementing the changes is done automatically throughout the system and every salesperson in accordance with his or her personal 'Goal Sheet', without any need for manual input.
Amir Fishlevich, CEO and founder of Incentive Solutions said "Dedicated incentives management systems can improve motivation and trust of the sales and service force and lead to substantial increases in sales. Surprisingly, 90% of the high-tech companies still use manual tools, which lead to waste of resources and inaccuracies and failure to take advantage of the full potential of the sales force. The hidden excess commissions can comprise 3-5% of all paid incentives and amount to hundreds of thousands of dollars per quarter at some companies. Companies that fail to present to an employee in real time his or her performance and the expected incentive are in essence working against the rationale behind the use of incentives. Checkmarx and other leading high-tech companies in Israel and globally are heralding a turning point for the industry regarding the impact of this important field to their future."
About Incentives Solutions
Incentives Solutions is a leading technology company in the development and application of Sales Performance Management (SPM) systems. The company focuses on assisting in the planning and managing of incentives and commissions for sales, services, and distribution channels. Incentives Solutions has a long list of customers including Amdocs, Swisscom, Checkmarx, Nestle, Coca Cola, Teva, Strauss, AIG, DHL, Cellcom, Migdal Insurance Company, Clal Insurance and Finance, Psagot and more.
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SOURCE Incentives Solutions