Pharmaceuticals and Life Sciences
IBM Cognos Sales Quota Allocation Performance Blueprint
Pharmaceutical companies often have hundreds, in some cases thousands, of sales people who bring the latest in prescription drugs to doctors. These sales reps must be able to understand and position hundreds of drugs in the market.
At a corporate level, managers seek to understand and track the overall sales forecast and performance against quotas. At the regional level, managers make decisions to optimize distribution among the territories in order to meet regional sales quotas.
How does a pharmaceutical company manage and allocate sales quotas to maximize revenue? How does it provide the right incentives to sales reps, to ensure they are selling the highest value prescription drugs?
Many pharmaceutical companies struggle with a complex, manual process in which sales managers assign quotas using spreadsheets, then submit those spreadsheets up the line for consolidation. These dispersed managers often assign quotas in very different ways, such as market share, market volume, or market growth. Worse, some change quotas without an audit trail - leaving a wake of confusion.
The recipient of all these disparate spreadsheets has the thankless task of tracking which managers have submitted quotas and consolidating the data across the company.
With the IBM Cognos Sales Quota Allocation Performance Blueprint, there is a much better way. The Blueprint leverages IBM Cognos 8 Planning and IBM Cognos 8 Business Intelligence to enable incentive compensation analysts and sales managers to determine the right sales quota for each territory, addressing changing market conditions while meeting corporate revenue objectives.
The Blueprint provides three major pieces of functionality:
- A dashboard that allows the incentive analyst and sales management to visualize historical and projected sales quotas
- A forecasting and modeling capability through which the incentive analyst can determine the optimal weighting of key sales quota drivers, and through which sales management can customize quota plans based on local market conditions (with an audit trail, of course!)
- Workflow management that eliminates the need for spreadsheets and manual reconciliation, greatly simplifying process management.
Using the IBM Cognos Sales Quota Allocation Performance Blueprint significantly reduces the time, overhead, and cost associated with quota management. Regional managers have clear targets and goals, and an understanding of how they are defined. Managers can forecast sales and have continuous feedback on sales performance against corporate targets and sales forecasts. In this way, the IBM Cognos Sales Quota Allocation Performance Blueprint can help pharmaceutical companies optimize sales quota allocations to drive increased revenue and profitability.
Learn more about the IBM Cognos Sales Quota Allocation Performance Blueprint.
Find out more about:
- IBM Cognos Performance Blueprints
- Read customer successes in the life sciences and pharmaceutical sectors.
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