REVIEWER: Warren Green, CFO, One Call Medical.
BACKGROUND: Based in Parsipanny, New Jersey, One Call Medical (OCM) is an outsourcing organization providing scheduling services through its national network of credentialed providers. OCM provides client access to more than 2,500 medical facilities nationally. OCM offers provider network coverage in all major metropolitan areas in 39 states for diagnostic radiology and 22 states for EMGs. We also provide ancillary specialty PPO services, and our customers include the leading workers' compensation insurers and third-party administrators in the U.S.
HARDWARE PLATFORMS: Windows XP SP2 with a Dual Core Intel Xeon 3000.
PROBLEM SOLVED: Managing and calculating our incentive compensation plan was a complex, multistep process that left us with no time to interpret and analyze the results and compare them to our business goals. With our existing process and Excel-based solution, representatives had no method of accessing daily, updated reports. We wanted to have a single solution to track all of our sales transactions by representative over time, and one that would enable our individual representatives to get involved in their own performance tracking.
PRODUCT FUNCTIONALITY: Varicent Sales Performance Management (SPM) offers a number of components. While they provide modules for territory management, quota planning and performance analytics, we chose to focus on the incentive compensation module. Varicent SPM can automatically pull from our proprietary transaction system so that individual representatives can track and audit results daily. Varicent SPM manages key reimbursements, adjustments and performance measurements. It imports and exports data to source systems and presentation layers, handles all the calculations and provides comprehensive and customizable reporting.
STRENGTHS: One of the biggest strengths of Varicent SPM is that it addresses both the needs of finance (reducing administration tasks and errors while increasing accuracy) and the needs of our sales team (providing a self-service sales dashboard). Since each of our representatives negotiates his or her own reward bracket, we needed a solution that involved them. With Varicent SPM, if the representatives' rates increase once they achieve a predetermined target set by their division manager, instead of spending time pulling together this data, Varicent SPM delivers it to our sales teams' fingertips. This is vital to keeping our revenue generators happy and focused on performing.
WEAKNESSES: While it has many features such as modeling, calculations, drill downs, etc. that are associated with core financial activities, it is not a financial planning solution. Instead, it is for leveraging and extending existing financial performance management and corporate performance management systems, technologies and processes. Given this understanding, though, it is an appropriate approach to taking financial best practices into operational areas.
SELECTION CRITERIA: Our first demonstration of Varicent SPM was impressive, and the product functionality met all our requirements. Varicent's project team built a detailed prototype, incorporating our specific business criteria. Varicent's team was extremely engaged in the selling process, interpreted our needs and translated them into a working model. This approach made our decision much easier.
DELIVERABLES: Once we deployed Varicent SPM, we saw a 50 percent productivity gain in our incentive compensation management activities, which resulted in a rapid ROI. Now, our end-user sales agents can provide better service and achieve greater sales performance because they have a more detailed, accurate and timely view of each sales transaction. With Varicent SPM, our representatives have a clear vision of their performance by period using a personalized dashboard. Varicent SPM has eliminated a huge administrative burden, giving us the time and resources to focus on performance improvements for better results and higher profits.
VENDOR SUPPORT: Varicent had a project team on site and offers extensive training classes.
DOCUMENTATION: While the documentation was fine, we found the hands-on support and overall deployment engagement process extremely successful.
Varicent SPM 4.25
124 Merton Street, Suite 500
Canada M4S 2Z2
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