Novo Nordisk Sales Incentive Plan Project
eMEDICS.org (YFORM Limited) signs an agreement with NNIT and Novo Nordisk for the implementation of NN Sales Incentive Plan solution. This complex SharePoint solution is used worldwide in around 75 countries, by Novo Nordisk sales affiliates. It contains several submission forms, complex automated workflows (multi stages approval process from Sales, Marketing to General Manager and VPs), document generation features and KPIs related to sales incentive plans (Sales metrics Business Analytics computed on real-time). It involves User Management capabilities (per country and per role) and Configuration items (country, sales rep model…). This solution may be integrated in the near future, to GLOBESHARE, Novo Nordisk’s intranet portal.
The Incentive Plan will contain:
- Captive Contests & Sales Recognition Presentation
- Captive Objectives: New Accounts, Quota Attainment, Sales Clubs, Product Launch, Training, Recognition
- Monthly Rewards for Quota and Annual Club Rewards
- Quarterly Quota
- Stretch Goal Incentive
- Variable Ratio Rewards
- Incentive Strategy Performance with Incentive; The Target Audience for Incentives should be the Mid-Range Performers, 5-7% Top Performers 80-90% Mid-Range Performers 5-7% Poor Performers (short-term) Performance will increase at most levels Variable to market conditions (5-30%+).
- Contest Length: Based on Sales Cycle,;Then double Promotion Period; Flex Period Promotions: Allows Channel Partners to run the promotion to meet their schedule
- Budget Rules of Thumb: 1-2% if product margins less than 30% and 2-3% if product margins greater than 30%; Incremental Sales 4-7% if product margins less than 30% and 7-10% if product margins greater than 30%…
The SIP application will be hosted by NNIT. eMEDICS.org staff will coordinate the work and implement the deliverables with NNIT China, NNIT Philippines and Novo Nordisk. eMEDICS.org staff will also work with Novo Nordisk affiliates in order to validate the solution and make sure it meets business expectations.
eMEDICS.org (YFORM Limited) will support NNIT and Novo Nordisk in the implementation of several enhancements, all identified with Novo Nordisk affiliates. This is the first contract for eMEDICS.org involving one of the top Pharma companies in the World.