Tyco drives growth and efficiency through a global sales compensation platform
In its 50-plus locations around the globe, Tyco had more than 300 sales compensation plans for over 7,000 sales reps. Compensation is calculated on a weekly, monthly, and quarterly basis across disparate systems for a multitude of verticals and products. With this complexity, Tyco realized that a better process, specifically a centralized cloud-based system, was needed. At Hub16, Peter Orlando, Associate Director for Total Rewards-Global Sales Compensation at Tyco, discussed how he helped move from a patchwork of manual, local systems to an enterprise-wide sales compensation platform.
Before implementing Anaplan’s platform, Tyco operated on a mix of homegrown systems and disparate spreadsheets. Making changes to any of the 300-plus compensation plans was done manually. Also, Tyco found it extremely difficult to determine the impact of any proposed changes on a plan’s effectiveness.
In this session, Orlando laid out Tyco’s arduous compensation process, and then dove into what he called the compensation evolution. Like any large change in business, the compensation process can’t be reengineered instantly. Orlando explained the crawl, walk, and run stages that Tyco and other companies often go through to launch a global compensation platform. “The first step — we needed to have an honest conversation with ourselves about the state of our data and what was achievable,” said Orlando.
Now having reached the run stage, Tyco implemented Anaplan in just eight weeks and achieved three key objectives set by the leadership team:
- Centralized platform for sharing sales compensation plans and performance data.
- Robust dashboard reports and analytics to evaluate business performance and plan effectiveness for businesses and sales leaders.
- Easy to use, scenario-based planning to quickly determine the effect of proposed changes on sale compensation.
Orlando concluded his session with three lessons learned from implementing Anaplan—remember that new processes lead to new discoveries, initial setbacks are often long-term successes, and don’t forget to carve out time post go-live for the unexpected.
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And find out for yourself. In three minutes, learn how Anaplan’s incentive compensation application can improve your sales performance and how other sales operations leaders are optimizing its incentive compensation process to better align sales behavior with pay.