by Amit Jain | Sep 7, 2015 | Incentive Compensation, Incentive Compensation Business Case, Incentive Compensation Management
Many small and medium sized pharmaceutical companies still rely on Excel spreadsheets or home-grown script based solutions to manage sales incentive calculations for their salesforce. These solutions are generally preferred because of in-house resources’ familiarity...
by Amit Jain | Aug 24, 2015 | Audit and Compliance, Incentive Compensation, Incentive Compensation Management
One of the major concerns we have heard in our recent discussions with many pharmaceutical companies is managing the risk of being non-compliant with the process and financial audits. The US Sarbanes-Oxley Act (SOX) requires companies to establish and adhere to...
by Amit Jain | Jul 14, 2015 | Centralization, Incentive Compensation, Incentive Compensation Management
In the first part of this series, we talked about different aspects of HQ approved Incentive Compensation Management software. In the second part of this series, we will discuss the other aspect of the centralization process. HQ prefers to create a global incentive...
by Amit Jain | Jul 7, 2015 | Centralization, Incentive Compensation, Incentive Compensation Management
Recently, we have seen an increase in calls for greater geographic centralization in the Incentive Compensation function within global pharmaceutical companies. The aim generally is to strive towards HQ driven incentive compensation administration and...
by Amit Jain | Jun 17, 2015 | Incentive Compensation Plan, Incentive Compensation Plan changes, Incentive compensation plan design, Incentive Compensation Plan design frequency, Sales compensation plan design, Sales Incentive plan
“To improve is to change; to be perfect is to change often.” – Winston Churchill When implementing an incentive compensation plan, we often keep the room open for changing it in future, but how do we know the right time to change our plan? To understand this, we must...
