Compensation, like any other business expense, calls for accurate tracking and predictability. Cox Communications and PAETEC Holding Corp., are two of the latest communications companies to answer that call by deploying Oracle’s Incentive Compensation Solution.
The solution will help them optimize their incentive-based compensation programs and also to hire and retain the best salespeople, ensure accuracy in incentive payouts and quickly adjust business plans based on changing market dynamics.
Cox’s primary goal was to provide a standardized and fully automated compensation management solution for 18 cable systems and headquarters operations. By integrating with Oracle’s PeopleSoft Enterprise Payroll solution, Cox also can improve its commission process efficiency for 12,000 communications services sales and field service professionals.
The company also created a single source of compensation data to better evaluate the company’s compensation plans and reduce the time required to manage its biweekly compensation process.
“By automating our compensation process with Oracle Incentive Compensation, we have significantly reduced administrative costs, ensured the accuracy of commissions and facilitated auditing procedures,” said Jackson Davis, senior manager of enterprise solutions at Cox. He added that the ability to make modifications to support new promotions and other programs enables the company to maintain its competitive advantage.
PAETEC is deploying Oracle’s solution to support a complex compensation plan that requires representatives to design a custom communications service plan and price for each customer. By automating 90 percent of the company’s 70 compensation plans, Oracle Incentive Compensation enables PAETEC to make adjustments to its compensation plans throughout the year based on progress toward sales targets and changes in market conditions.
PAETEC believes it increased its recruitment competitiveness with the ability to offer the best compensation plans to its sales representatives. Daniel Miller, vice president of sales operations at PAETEC, said the solution also has made the company’s incentive compensation process more mature and has improved its bottom line.
“We have the ability to react to market conditions and sales projections by quickly changing compensation plans throughout the year to maximize sales productivity and revenue,” Miller said.