Guest post from Brad Burnaman, Cognos SPM Industry Solutions Executive, IBM Business Analytics
Follow Brad on Twitter @BradBurnaman
There were so many great sessions presented in the sales performance management (SPM) track at IBM Vision 2013, but here is a quick rundown of a handful of the sessions that took place on Tuesday.
Greg Hartl and Nori Yumiyama gave a great presentation on the performance benefits gained by applying model locking, which can allow gains of up to 60 percent improvement in calculation times. The session provided great practical advice for how to approach locking your model without disrupting the current system or creating an undue burden on compensation administration. In addition to specific gains provided by model locking, they also provided some suggestions on other areas of performance improvements, including hardware and scheduling optimization. They started with a discussion of best practices, but quickly turned to a real life example of the gains provided at a current banking customer who applied these principles.
Robert Yurkutat of BB&T, a financial services organization based in North Carolina, and Marco Wong of IBM shared some of the challenges that they faced as they approached a large project to implement two of lines of business, BB&T's mortgage and securities divisions. BB&T ran into issues with the complexity and format of data sources and experienced new requirements that stretched their timeline. Despite the challenges, BB&T implemented a solution that transformed their compensation processes, removing manual processes that presented a compliance and audit risk to the company. The solution includes payment of commissions, allocation of discretionary bonuses, and automation of inquiry workflow. The session presented some practical solutions from the lessons learned in this complex implementation.
Devon Tasgaonkar from Capital One provided a great point of view presentation, sharing the process that it went through to select IBM Cognos Incentive Compensation Management (ICM). Andrew Rupf from IBM joined him to share some thoughts from the vendor perspective on the process. The session presented some important thoughts on how to conduct a successful incentive compensation project, such as ensuring commitment to mutual success from all impacted business partners and rigorously preparing for data integration. Andrew provided some excellent thoughts on how IBM Cognos ICM can meet some of the requirements that Capital One raised during their vendor evaluation.
These are just a few of the great sessions that took place on Tuesday.
For those who were unable to attend Vision, you can watch the general session keynotes (on demand) or follow @IBMSPM for more updates on sales performance management.