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Challenge
The small business lending tech firm is a BSE & NSE listed technology focused, small business lending platform. For a long time the business development and credit managers tracked the sales performance manually and shared commissions data to the agents over an email. However as the company grew, providing commission data visibility and maintaining pay transparency became challenging. They were on a look out for a purpose-built incentive compensation solution to solve their problem.
Solution
Sales Performance Management Solution
Using Compass, the small business lending fintech platform was able to streamline and boost visibility of the entire commissions process, improve commission payouts and thereby improve sales rep productivity.
Compass commission management solution removes friction from the compensation process, makes it easy for reps to track commissions and accelerates incentive program adoption by gamifying sales activities with contests.
Result
Using Compass the small business lending tech firm Capital could:
- Provide sales reps with real-time visibility into sales commission with Compass mobile app and improve engagement
- Get real-time insights into sales performance and automate incentive payouts
- Improve incentive program adoption by engaging sales team with sales contests and disburse points & streak badges
- Reduce central overhead for administration
Impact
- 68% Adoption of Compass by sales teams
- 36% Increase in payouts adoption
- 34% Increase in incentive program qualifiers in less than 90 days
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