Home >> News >>

Geared Towards Aligning Salespeople's Performance, Vymo Announces Launch Of New Incentive Management

Thursday, 03 December 2020, 04:28 Hrs

Vymo, the Sales Excellence Cloud for Financial Services used by over 125K customers in 60+ leading companies such as AXA, Allianz, FE Credit, Generali, HDFC Bank, and ICICI Bank, today announced the introduction of a new Reward Management Solution aimed at more efficiently aligning the success of salespeople with the objectives of the company.

While incentives are the most important leverage to drive sales outcomes, conventional incentive systems haven't kept pace with the dynamic needs of the modern sales force.

Modern salespeople are used to an Uber-like, one-tap experience in their personal lives but have to contend with archaic systems at the office that neither inspire trust nor offer transparency. Hence, salespeople are not motivated to do their best.

Supervisors and Managers have to often mitigate concerns on incentive earnings and advice their teams on how to meet their goals proactively. But, in the given remote and distributed work environments that is easier said than done.

Business Leaders are not adequately equipped to translate the complex requirements of financial services sales & distribution to new incentive models tied to business targets that provide clear motivation for sales teams.

Vymo rethinks this experience by building trust, transparency, and agility in the incentive process.

With Vymo's Incentive Management Solution,

  • Sales reps can track and simulate incentives. What will I earn this month?
  • Sales reps can predict what activities are required. What should I do today?
  • Sales Managers can coach contextually. When should I intervene and how?

Aside,

  • Sales Operations can gains visibility of activities related to incentive calculation, and
  • Business Leaders can drive winning behaviors across the organization

Harish Vaidyanathan, SVP – Product at Vymo, says "From a business perspective, you want incentives schemes that are fair, differentiated, and wiser from previous experiences. Schemes that are easy for everyone are salary; schemes that are hard for everyone are demotivating. Finding the right level of hard is key. Enduring incentive schemes combine sales activity goals & sales outcome goals. And that is what Vymo Incentives help you achieve, distilled from our experience of working with some of the largest financial services organizations in the World."

Vymo's Incentive Management solution is part of Vymo's Sales Excellence Cloud and will be available standalone and as an upgrade to existing customers.