Enhance Your Financial Services with the Sales Evaluation Program for Financial Services

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a cast is now starting all attendees are in listen-only mode hello and welcome to today's webcast hosted by the sales management association our session will start momentarily first we have just a few brief announcements please note that we will not open attendees audio lines during the live broadcast today but we do welcome your questions and your comments please send those at any time to us using the small chat window labelled questions you'll find it on the right side of your webinar application so anything you type in there will come to me as moderator and I'll read it during Q&A on your behalf also as a reminder we'll be recording our session we'll make it available to our members in this in the sales management associations resource library the sales management Association is a professional association for sales operations enablement effectiveness and leadership professions we provide our members with research case studies training peer networking and professional development if you're joining us for the first time we'd like to welcome you and encourage you to visit us online you can find us at sales management dot org we'd also like you to save the date and register for our first online conference will do this on May 6 we're rushing this event to production very quickly to meet the in some cases urgent demands that many of our members have around planning sales performance management coaching and development sales enablement and technology we're also very pleased to announce today for the first time that retired General Stan McChrystal will join us as a keynote speaker at the event on May 6th we're making the first 2,000 registrations free and they're going fast so if you have an interest in this event please register soon it's its sales management conference com we hope to see you there my name is Bob Kelly I'm sales Management Association chairman and I'm pleased today to introduce two speakers and then when they're done with their remarks I'll moderate some discussion our speakers are robbed blown from open symmetry and Bradburn Amin from Vera sent Rob Blum is senior vice president of sales and alliances at open symmetry with over 15 years of experience in sales effectiveness performance management and technology Rob has managed consulting projects for Fortune 100 companies in a variety of industries his focus at open symmetry is driving the sales organizations reach in order to drive their aggressive growth goals and also remaining committed to customer success great to have you with us Rob Rob is joined by Brad Burnham and Brad as regional manager at Vera sent a software provider of incentive compensation and sales performance management solutions for mid market and enterprise organizations Brad has 20 years experience and the spm sector and deep expertise and sales effectiveness and it's cent if comp solutions for the insurance sector so gentlemen thank you very much for being with us Rob bloom and Brad Burnham and welcome to you both thanks Bob so Bob I appreciate the introductions and it's great to be here obviously talking with everybody and first off thank you for making time we sincerely hope everybody is safe and doing well so for the cons for the discussion today I thought I'd provide a little bit of context on what we're going to be jumping into the idea is that we've been working in the space as Bob mentioned for quite some time almost primarily around sales compensation and sales performance and we were thinking about this presentation and the kind of the ideas we wanted to present we thought it might be ok or might be interesting for people to understand you know how different SPM technologies can help address some of the main or core issues around financial management and so as it relates to this discussion today what we're going to do is talked a little bit about sales performance best practices different ways to think about sales compensation and then dive into some of those specific challenges and and so the first one is conduct risk and then we have a few other challenges that we're gonna speak to and again the idea here is to really share with you kind of these challenges through what we've seen working with other clients help you understand ways to de-risk or mitigate these these issues using different types of technologies and so is a bit of a disclaimer you know I'm joined by Brad from Barisan and obviously that's an SPM provider in the market but I think it's it's important to understand that the concepts and the the capabilities that we're going to talk about are really more vendor agnostic and it's really sort of helping you understand how to align these capabilities and these technologies with the with the challenges to get them resolved so anyway I think that's a all I want to kind of offer is just sort of the preamble and at this point I'm going to go ahead and turn it over to Brad for our first topic on conduct risk hey thanks a lot Rob and thank you all for joining us today I really want to start out by kind of setting the stage for what drives conduct risk when we look across you know any business any any organization your main goal is to provide value to your shareholders since today we're really focused on incentive compensation everything we're going to talk about is looking at this problem and solution through that lens and trying to share some of the best practices that we've seen through through the years specifically with this where we're looking at you know making sure that you're driving revenue for your business using incentive compensation programs and you know as you start to decompose that it's all about driving the right behaviors that are gonna meet your financial goals as a company so it starts by taking high-level strategic goals of your organization breaking those out across the organization and putting the appropriate compensation plans in place to help drive the right revenue generating activities with your customer facing employees know what ends up happening sometimes though is that strategic vision gets misinterpreted we see organizations that put incentives in place that drive all the wrong behaviors and can really lead to some big problems right behaviors that are out of line with the law with regulatory you know directives as well as just being plain morally wrong and when this happens what you're gonna see happen is shareholder values erode it's going to cause huge problems open you up to litigation and and you know we've seen some big examples of this in the past there's been some large banks that have had you know with tremendous image that have been tarnished by scandal and you know banks are a place where people are putting their money you want to be seen as trustworthy you don't want to be seen as as some place that's you know exposing fraud or challenges to your customers so that really leads us to the focus here which is conduct risk how do we identify conduct risk and how do we avoid it and for us it's all about you know we've got this definition it's identifying the risk that your employees might be taking or even third parties on behalf of your company acting in ways that would cause risk or harm to your customers we want to avoid that at all costs and what we're gonna do over the next couple slides is really dive into how you can be proactive and identify problems before they become serious challenges for you or your company but before we get going to too deep into this I'd really like to throw up a quick survey question and see you know on a scale of one to five how important is conduct risk for you as you're planning your incentive compensation Bob I think you're gonna help me with the survey we'll give you guys a cup seconds to to respond to this question we'll give it just a second more looks like about half our audience's voted Brad so we'll all right we'll curl the poll in about five seconds for those of you who'd still like to so five four three two one all right thanks for that we'll go through the the results of the survey here in just a just a moment so as we start to break down how you high managed conduct risk within your organization the first real way to do it is to understand what are the indicators that drive conduct risk we see these come in from external sources things like customer churn strange account behavior with customers maybe social media feedback from your customers themselves we also see internal indicators that could point to contract risk things like employees raising concerns internal investigations levy outliers with your variable encompass variable incentive compensation or disciplinary actions because everything we're talking about today is through that lens of incentive compensation we really want to focus in on the things that we know we have data for that are available and accessible through the incentive comp system so you know we've really focused in on churn account behaviors and outliers with your variable income variable incentive system that's not to say that you know customer surveys social media these things couldn't be captured and input and they could actually be data points that you're looking at as you consider where conduct risk is is challenged for you it's important to take those indicators and put together a good classification system within your organization the idea here is to make sure that you've taken those identifiers and you've got them consistently measure throughout the organization when you're building out these categories you probably have some overlap for example you know you may have fraud as one and mistreatment of a customer based on age or sex as another you may actually end up hearing that there are customers that are being treated unfairly through deceptive practices due to ageism if that's the case it's a combination of these two and you want to make sure that you're able to capture that classification correctly so that as you're doing more more detailed aggregate analysis of all your data you're you're not missing anything or miss counting what you see being able to capture the data at this level is going to lead you to earlier identification of issues and really help be more proactive so you can avoid problems getting out of hand within the company so over the last several years our team has been really fortunate we've been able to work with a number of banks and financial services firms along with former regulators from the Federal Reserve and the boards of trade - to really help put together some conduct risk proactive detection mechanisms and it really comes down to taking best practices to align technology and the information that we've talked about already are on these indicators to identify what are they what are the really important key risk indicators that you need to be monitoring and watching for and and what we've seen our most successful customers do is take that and build out dashboards and reports that will help them be able to identify where there's problems where there's irregularities and get to those before they become big problems I'm about to pass things over to Mike Fisk he's gonna walk us through and show a couple of a couple of examples of how we've done this first customers before we go into it show it you know I think Rob mentioned this earlier we want this to be very educational what we're doing here is all about showing what they art of the possible with any mature incentive compensation solution Mike and I are both with the organization Barisan and we've picked some screenshots from existing examples we have to be able to share that with you but it could really be doing done in any tool Mike I'm going to pass it over to you to walk through the next couple of screens excellent Thank You Brad great hopefully we see the dashboards we have put together here really the goal of using an incentive compensation system to track conduct risk is be able to go through and look through that data and just pick out the key piece of information where risky behavior could be occurring once you have an incentive compensation system we have all that transactional information what we can do is filter it for you know set different types of thresholds or variations of where we want to find some data that we we've tagged as possibly risky in this particular dashboard you see some of the different highlights that we've called out so we're looking at it specifically account in activity accounts with minimum balances and early account closures these may be a sales reps that are opening and generating new accounts they're just turning to make up their volumes look good but maybe they're not actually legitimate accounts using an incentive compensation system this is something that we can go through and identify you can see how we're tying that risky activity with their total incentives which is in the lower right hand corner of this particular dashboard so we always want to make sure that we're looking at are these in activities actually generating incentives and making sure that we're identifying these relationships the nice part if we go to the next slide is we have that ability to go through and drill in on any of these information to get more details so we generally start at a very high level as what you'll see an incentive compensation system and then be able to go down into all the different details so here we're still looking at it from a total level you can see our ranks of our regions by each of the different total based off of all the different queries that we've written we're also looking at increases so we'd like to be able to identify if there are any changes in practice from our group subscribing risky behavior so these reports are also drillable so when we're looking at a reagent levels we want to drill to a region or branch we can do that as well so you'll see on the next slide that if you don't mind drilling into and we're looking at this at a region level so we're able to compare this region into all its other regions to see what type of activity is occurring and not a link down below we're looking at this a branch by branch level maybe it's not something that's occurring region-wide maybe it's something to a branch so really the goal of using this incentive compensation system is that you have that visibility to go through and query very quickly all those different metrics and be able to present it in dashboards so you can identify and stop any sort of risky activity before it takes hold in your organization so Rob I think I'm turning it back to you now yeah thanks Mike let me see if I can affect the screen change oh right so survey results bob was there anything that you got back from the survey indeed their lives would you like to see it Rob Bob that would be awesome Thanks okay so it's that's in line with what was I guess anecdotally I've been hearing in the market so that's interesting to see thanks thanks Bob picture from that up okay all right so as we continue on our journey trying to make this change you're getting there okay so as I said at the beginning of the conversation the idea was to unpack if you will some of the challenges some of the issues that we've seen in the market some of the things we've seen from our survey data and help you align you know are there ways to mitigate those challenges those issues through SPM technologies and so what we want to do is dive into a few of those right now that said and I posit I forgot about this slide this slide is actually interesting in that it is a model that we use at open symmetry to discuss sales compensation and the reason this is relevant is because this is how we can start classifying the challenges or the issues that come in to the organization from a standpoint of administering sales compensation and we effectively call this our five Cs so the idea if you will is that this model kind of tracks data as it comes in so in collecting the data from the different source systems how we credit the data to the to the right folks in the organization so that they're actually getting credit for the activities they perform the calculation really talks about the comp plans bonuses and things of that nature and then the compensate is moving pay out the door right getting it over to ATP or whatever payroll service you use with the right qualifiers on it such as draws or guarantees and things like that and then the last C really focuses on communication and you can think of this you know as a sort of a business intelligence strategy for your sales performance management program you know who needs to see the data what format do they needed in the frequency and what are they going to do with it in order to their do their job and as I said this is the framework we often will use to help companies understand what they're doing well what they're not doing so well and then some of the things that they can work on to improve now as it relates to the next slide we actually grabbed a bunch of example challenges from the banking industry in the financial area that we then classified across the five seas now I don't want to unpack all these and we don't have time to go through all of them and understand how we can we can mitigate them or look at them through an automated lens but that said I did want to share kind of how we thought about them and then we did pull out some very specific slot sorry some very specific issues so the first one was on credit management so we'll talk a little bit about that and some of the challenges the forecasting and analysis the referral management and then managing changes given the current economic environment we thought managing changes might be an interesting to want to talk to so at this point we do have one last survey slide or the survey question to ask everybody and that's really on a ranking of one to five how important each one of these four items are to you so bob is that something you can tee up or indeed it is so the way these this is actually going to be a series of polls this is how we're forced to organize this in GoToWebinar so the first will ask about credit management I'll put that one up right now and then if our audience would be so kind as to vote promptly we'll leave it open for another in the seconds or so and again this one really is dealing with credit management we'll deal with the other three issues momentarily we'll give this one five more seconds three two one and then let's do the next one we'll ask the next question this one has to do with forecasting and performance analysis it asks how important consideration is forecasting and performance analysis and incentive compensation planning for your organization I'll do this one another five seconds so that's five four three two one and we'll go on to the next poll the next question is how important a consideration is referral management see your choices there I'd like to applaud our audience today for their prompt and efficient voting behavior another five seconds on this one three two one and our last poll which has to do with managing changes and will let you vote yeah just for some context on this one team this is managing comp plan changes making quota adjustments you know changing targets moving people around things like that you know you can think of anything that might happen mid-year that you need to address and adopt your system towards very good thank you to all back to you rob okay great and I guess in hindsight we might have asked these poll quizzes after we dug into these a bit more but we'll see what happens so I don't see the slides yet Bob I still see the survey question you guys can hear me sure can rock it should be it should resolve in a moment okay I just saw that I am reestablishing a connection so hopefully I'll be able to see this come back online quickly yeah we must have knowledge eyes GoToWebinar has been more than a little mmm overburden today for key gel yeah indeed okay so you know what Brad if you can see the slides we just tell me kind of where we're at because I show a connection lost yeah absolutely Rob we're we're on the addressing challenges with SDM with the four topics we're ready to move to the next slide okay yeah yeah let's jump into that so right here where should be the credit management yes okay beautiful so from a credit management standpoint I mean this is in in essence just dealing with the transactions that come into the system being able to assign credits to the right people and then in the banking industry one of the things that I caught along the way is the ability to identify new to bank revenue so in and that really speaks to our ability to or the challenge if you will of assigning credit to different transactions that come in so some pay some don't pay and you do different things with it so those are those are more or less the challenges we understand the banking industry high transaction counts complex crediting and the ability to identify the credit you need now so when we talk about sales performance management if you're not re on one of these platforms these are some of the areas that I think that you know you can look to to mitigate these issues or to resolve these challenges so on the spm side you know all of these applications come with some level of automated data management and that's a significant offering for a lot of companies as they manage sales compensation because with that there's some level of error handling exception handling and things like that so not only just the automation of data movement in your system or into your system but that error handling there's also oftentimes the ability to handle very complex crediting and when we're talking about complex crediting we could just be speaking simply of you know one transaction generates 15 different credits and you know those credits need to be paid in all kinds of different ways well these applications is really do a good job of allowing you to build credit logic in the program so that people are getting paid the correct amounts for being involved in different transactions and the last piece that sort of folds into it is that ntb concept of being able to tag certain credits as they flow through the system so that you pay different rates or different different levels of pay off of those so in a situation where transaction is generated but it actually doesn't create revenue for the bank you may not want to pay off of that versus new revenue coming into the bank off of a new referral into the investment bankers that would be something you'd want to pay off of so these systems would allow you to kind of dive into that and figure out how to automate that process and really make sure it's managed correctly the next slide talks a little bit about forecasting and analysis and so from a challenge standpoint the things we hear people complain about are the ability to develop expense models you know in an efficient and effective manner forecasting versus actuals really sort of tracking throughout the year you know what are we actually seeing versus what did we forecast and how are we going to true that up there's also that element of tracking performance of reps branches of different groups and this goes back to a little bit on the conduct risk how do we pay attention to what's going on in the program you know how are how are we knowing that people are following their comp plans and doing the right things and then the last challenge that we tend to talk about with with different companies not just banking is quota and gold distribution you know how do we plan our quotas out how do we make sure that we're distributing them in a fair way and then how do we manage them in an ongoing manner so now if we talk about what SPM should be bringing to the table you know the technology should allow you just out of the gate to be able to model your plans so if you can imagine at the beginning of the year before you roll your new plans out to the to the folks you're going to want to mop I'm excuse me you're gonna want to model those plans out not only at a macro level to understand what the expense of your sales is going to look like for the year but also you can start doing micro modeling against your performers so looking at your bottom performers your top performers to understand how those plans are going to affect them there's also if-then impact analysis so you can imagine through the course of the year if changes start rolling in and you need to do different things you can then go back into that model and then run impact scenarios against different different things like changing quotas or changing goals things like that and that is I think going to be instrumental in making sure that you don't make a misstep or put yourself in a bad position with the comp plans themselves Brad just check and you can hear me right I'm getting messages from WebEx telling me how I got disconnected no you're I can hear you just fine same here Rob okay great you know I'm thinking that things are bad enough already at GoToWebinar with this sort of zoom thing so anyway continued bad bad times for them sorry it's a different life in times um so the last piece folks that you should look to sales comp solutions or SPM applications for help on is that ongoing performance analysis so notwithstanding the ability to track and look for conduct risk but you should have the ability with these systems to track overall performance of the plans of the reps look for good quota distribution so looking at that last point right how how well are we distributed in our quota you know is everybody to the right of a hundred percent and thus you know do we have runaway incentives and challenges that might occur if the word gets out that were overpaying people or do we have everybody underperforming and do we have a turn risk with our resources so that ongoing performance analysis really does speak to the health of the program itself you know the plans and how people are performing so at this point I thought it might be helpful to pivot back to Mike and we've got some screenshots of different views if you will that we put together for other clients and synthesize down to what I only will be you know relevant and help you understand from a visual standpoint what we're talking about so Mike great thanks Rob so we got three different slides we're going to show you here first off what we're looking at here is from a forecasting standpoint so incentive systems allow you to propose modifications to your plans and see what that impact is in terms of payout both in aggregate for the entire plan but also by period or by person and we're talking about changes we're not only talking about making plan changes so that could be moving rates around from one plan to another you know updating rates moving components of those plans around but so doing forecast what happens if this product it goes up by five percent whatever this product goes down by ten percent and being able to go through and forecast and model that impact and incentive systems will do this inside of a sandbox environment so it's not affecting your production running so it really gives you that analysis to see if we're thinking about making that plan change what is that impact going to be to my organization the nice thing about using incentive systems for this is this is a very difficult thing to do in Excel it's hard to build the model and you'll I'm sure if you built models before you've been asked to build a lot of different models to do this type of analysis it's nice to have something like this out of the box so that you can go through and quickly see what that impact is and provide the answers back to your organization if we go to the next slide we're looking at this as Rob was calling about from an ongoing analysis perspective you know being able to go through and create these different types of dashboards that give you full visibility of what's happening inside your organization so these are updated for our incentive systems these are updated on nightly basis so when we're pulling over transactions and data we're doing that on an automated basis that allows us to our users to be able to go through it and see this information on a basically real-time updated information so that they always contract throughout the period where they're performing and where they're going to end up these reports boom so we're starting at a very high level here with this particular report which is looking at our overall performance for the entire bank if we go to the next slide we're actually going to go through and drill this down into a particular branch and see what's happening there so down at the branch level we're able to see here's what the performances of each of the employees that are associated with that branch again some high-level information about that and then tying this back to conduct risk in the bottom of this graph that you're going to see that branch performance this is something that we want to make sure that we're tracking to make sure that their performance which is the x-axis in this graph really ties to that payout we expect that this would be a line going across if we see someone who's maximized their payout with minimizing the performance it may be a case that they've gone through and figured out how to game the system somehow so this is something that we want to make sure that we're having visibility on to make sure they're our plans are performing as they should so Rob I'm going to throw this back to you to work on the next section okay thanks sounds like work so the next the next area number three was referral management and assuming Brad we've got that screen up we do okay so the common challenge is as I understand them and a very specific challenge it's really just being able to pay referral fees to folks that promote opportunities over to investment bankers that was the kind of the the one that comes to mind and the one specific scenario that I think some some banks have to deal with or have challenges around and so for those situations when you have to you know I obviously created an objective process for moving and paying off of referrals to to folks that actually do kind of recommend people to investment bankers there has to be some way to track that right there has to be some way to manage it pay it now as it relates to sales performance solutions and the systems out there in the market there are various things that they can do to make that a little bit easier right first off they can create an automated process so that as you generate activity or activities are generated and sourced into the system you know there will be some defined automated process by which you can pay out that referral once it hits a certain mark or once some event comes true the other thing that's nice about the solutions today is they do allow banks and administrators the ability to make adjustments and so if a referral comes in or any type of credit comes in you can easily log into the system and make an adjustment based on some other activity going on outside of that initial situation and what's nice about these adjustments is it does timestamp date stamp and log who actually made the adjustment and offer somebody the ability to make some remarks or some comments and what that does obviously is make the auditing later on much easier to go back in time and find out what exactly happened for some institutions some banks we have seen very complex processes be put in place not just for referral tracking but for disputes and things like that these systems can provide you with different levels of workflow automation so if it approval process has to be put in place for this referral as it as it moves through the system you can actually put a workflow an automated workflow in place and have different people sign off on it as you go forward so again I think it might be okay to or might it might be good to show you visually what some of these things look like so I'm gonna I'm gonna quickly pass it back to Mike before we get to the last piece all right thanks Rob so the real key about tracking referrals is just having that visibility so we're looking in here as an associate there's someone who's opened up referrals in the past we want to make sure that on their reports on their statements on their dashboards in this case that they have the ability to go through and track the referrals so what we're seeing here on this particular report amongst all their other information that they're being notified on is in the middle section they have their recently paid referrals so they are able to go through and see any of the referrals that have generated new transactions and generate new business and make sure that on their compensation statement that we're compensating for that so they're able to go through and see that payout amount now if you go in the next screen as Rob was mentioning there is ability to go through and help from a workflow perspective as well so being able to go through and generate an input new referral information so what we're showing here is on the top half of the screen it's an editable form where we can go through and capture we really want to be able to help in tennis systems so that you have one place that you're doing all this information that triggers all that compensation information so they're going in and putting all the key information they need to to generate a new referral and then not pictured here but as Rob mentioned we use the workflow to go through and make sure it gets routed to the right people so that they get notified that there's a new incoming lead that they need to go through and act on from a associate perspective down below you're able to go through and see all of your previous referrals so it's going to go through and give you that identification again all that visibility to understand what's happened with all your previous referrals from an assistant perspective we're doing some data checking to make sure that we're not tracking duplicate referrals and making sure that all the referrals are valid before they actually go through and get paid we want to make sure we're doing that matching between the incoming referral over to the transaction information so Rob I'm going to throw it back to you for the making changes part of the section okay that was good thanks Mike all right so we thought this might be a relevant conversation or a topic for today given the current economic environment and the fact that you know we're reeling from kovat and not just within banking but I think across the board obviously with some industries even more such as Hotel Restaurant Management travel and things of that nature we're seeing a lot of activity and a lot of requests and and questions come in as it relates to you know how do we effectively make plan changes in our system you know I what's the best practice for for leveraging our system to make quota adjustments and move quotas around and then last but not least I think there's a lot of challenges right now on how to effectively build out and implement guarantees draws recoverable or not otherwise into the system so as it relates to the SPM technologies in the market you know the I think you should be able to look through these systems to help out with all of these the first thing that is worth mentioning if you're not familiar with these systems is they do provide some level of access or they're designed to provide a level of access to the business users and so through a user interface a UI business unit should be able to go into these systems and make changes to comm plans to rage to schedules and things of that nature very simply and it's designed to be done in such a way that you can do this in a test environment and then promote those changes in your production environment and then you can effectively date-stamped those so that they go into play at the beginning of the month or in the mid month or wherever you need to so that would that's the idea behind that quota management capabilities these systems often come with some level of sophistication around quota planning as well as quota management now from a quota management standpoint making adjustments to quotas and goals or actually moving goals and quotas between reps if they need to be furloughed or things like that can be done with without without a lot of pain if you will and the last piece worth mentioning is oftentimes these solutions come with some level of bacon logic right for managing guarantees drawers and the idea there is that when you do need to use those to keep your your payees fiscally whole the idea is that you can leverage a guarantee in the system to ensure that hey for the next three months will not pay him less than X amount and what's nice is these systems do track that and they they do have the ability to show on Comm statements and summary statement reports both to the reps and administrators how much of that guarantee got used and what what is actually being used to pay the reps so from a standpoint of managing changes you know the life of the comp administrator the life of the SPM manager in your organization should be made somewhat more I don't know easier if they've got the ability to do these things in an automated and more thoughtful manner so anyway that's that's kind of the concept between behind managing changes and connecting those challenges with with the benefits so at this point Mike I think we just have a couple more slides before we start to start to wrap up yep that's right so in full honesty this is not the most exciting slide it's just a data table that we're showing but it really ties to the the key things that Rob was discussing here and really I want to focus on those last two columns where we have the effective start and end date we're looking at this is a draw table that we have in a system but again any of the different data items that were storing such as quota values and plan components and plan rates everything should be effective dated this is very important if you think of it from an Excel perspective if you've got a spreadsheet and you type over a value the old value is gone so all of your formulas are now going to pointing to that new value and that may or may not be correct what's more accurate is be able to go through and set the effective date of when these values are in production so you were able to go through and make changes to this information in this data and disserve determine when that's going to be in production in the accurate amount so the first two rows you see were for the same person we've set a draw a different amounts and then midway through the year we can change it and again the goal is you want to be able to make these changes in the system and have them automatically flow through so you're not having to do one-off Excel models to handle or someone's quota changes or someone's plan changes someone moved from one role to another you want to make sure that you're going to do this automatically in the system a member have to go to the next slide this is just a output it's that same person that we're looking at here the top two rows on that previous screen but we're showing in the middle column there we have that draw and you can see how the draw impact is changed from one period to the next so really the idea of this is not only are you making changes to your models or your systems but you also be able to communicate that out to your end users via reports so they have that visibility as far as what has been changed so Rob I'm turning it over back to you for the for the wrap-up okay so guys before we go to questions I just wanted to offer a couple other areas where we might be able to provide some value or at least offer some different resources so coming out of today's presentation we actually put together a pretty comprehensive white paper that's going to be published next week on Monday the idea here is to dive into very specific challenges and help companies understand how spm technologies can support them so it's a little bit of a specific case study if you will on addressing those issues that we've been talking about as well as other ones there's a couple of case studies that we can offer so if you're interested in reading through how other banks have used SPM technologies that could be a play as well and then for those that want a little bit more interactive conversation we are offering SPM round tables and these round tables are going to be kicking off in May they're going to be technology specific as well as technology agnostic the idea is to bring practitioners together on the phone to talk about challenges that they're addressing within their sales compensation programs and systems again this is a little bit different than the design side of the house where we where we're talking about plan designs and things like this this is really very much more specific to the administration and managing through kovat from from that from that lens and then lastly if you're looking for one-on-one feedback on your SPM program or just an opportunity to sit down with an expert we're happy to organize a quick call for an hour to maybe answer questions about systems and or address any of the challenges you guys may have going on today so that concludes the presentation and at this point we were going to shift over to questions and so if there are questions coming in we're happy to stay on and address it's a good time to remind the audience to submit questions now and I'm a question for you Rob and Brad is would you like to show the summarized results of the polls oh yeah definitely although I won't be able to see him I think be great to know know that everybody sees them well I'm gonna try to do that now and I hope you can see those are here we go yes these are the combined results of all five questions that we asked the topic that was considered important by the greatest number of our audiences forecasting and performance analysis it was considered important by 84% it's followed by managing changes changes at 76% and conduct risk at 55% the remaining two issues were not currently considered important and incentive comp planning by more than half of the audience and those are credit and management at 44% and referral management at just 24 percent it's interesting it just off the top it makes me feel like we should have spent more time on performance and analysis but no that's great I appreciate everybody participating in that poll it's helpful to understand so I guess Bob at this point where there are any specific questions we could we could answer for folks yeah let's get to some of those here's a question first is how our organization setting and revising performance targets in today's environments and let's see Brad I'll I'll ask you to take this one first but then you know gentlemen if you're if you want to chime and feel free to do so yeah you know we're we're seeing a lot of our customers look at how they're setting targets and taking some of the things that are going on right now into consideration I've been talking to a number of our customers and they've said with everything that's going on they are looking hard at you know how they're setting their quotas and does it make sense to reset things a bit based on the overall economic climate that's going on right now when you've got a strong sales team and you don't want to punish them for you know things that are out of their control we're seeing a move to you know take that into consideration and lower things by you know ten to twenty percent kind of across the board Rob I don't know if you're seeing anything different or hearing anything that would you know you'd want to provide some context on yeah you know I think my my contacts recently is just more in the general market and and you know unfortunately I don't I haven't talked to one of my banking clients in the recent times but I think we're seeing a combination of things I mean I think everybody's reading the news that reps are getting furloughed you know being told to kind of go home without pay so they can collect unemployment while they're you know 401k and their health and benefits is still covered so that seems to be a big big an option that companies are exploring and what we're seeing because of that is because you know people are adjusting territories and they're adjusting quotas and things too to cover right so you now have reps covering you know more than one territory more than their original territory and so having to go into the systems and create bigger larger territories with some sort of expectation on timeline right so think people are putting some some thoughts around how long this might last and when they can start pulling people back in and so as it relates to that you know what would be the impact if things came back online and so being able to adjust the quotas back up but I mean I know I apologize I'm rambling to hear a bit Brad but I think we're seeing a little bit of everything we're seeing drawers and guarantees get used where you've seen lowered quotas and goals and we are seeing shifting of quotas and and/or territories to a line with the loss of Salesforce so there I think all of them are on the table great Thank You Rob I'm going to say with you for this question it's a little vague but you might have some you know insight or some perspective on it the question is how mature do you consider analytics in sales comp in compensation management that's a great question and it's sort of been the hot topic the last few years some of these systems are more depth than others definitely you know the print capabilities and so whenever we sit down with clients and we start looking at these vendors and these applications one of the big things that we try to instill Rob so sorry you are breaking up I'm afraid no did you just okay just the last two sentences if you could repeat this okay I was saying one of the things we try to do is ensure that clients are thinking about what analytics means to them before they go forward and look at these platforms because the different varying capable capabilities and functional offerings will determine which is the better application for them I would say though that if you are going down that journey with any of these applications not only is it important to qualify that the application meets those future state needs but enough consideration goes into the data integration side of things so that you actually populate the system with the content that you want to look at later as well as some of the architecture that's going to need to go into the system itself but yeah it is a hot topic things are picking up and I think we're seeing more companies look at the analytics and the performance as a way to understand what is going on in their plan in their program great example is a company I worked with last year they commonly would roll out stiffs and contests and so they started put any analytics dashboards together to actually see if the value they were getting from that spend was actually providing any money and they quickly found out that some of these contests and spins weren't doing anything for them while some of them were generating significant impact to the revenue so it's again sort of a ramble there Bob but yeah it is it is interesting to see the different ways people are approaching it from a technology standpoint and from an applying it standpoint yeah thank you well I'd like at this time to draw the questions to a close I must comment though that there were many questions about specific things companies are doing in response to the the impact of the health crisis facing the world right now pays yes a bob we've got some bar I was just going to throw out if people are interested in that specifically I'm happy to kind of point folks to other sessions by the plan design companies we've got a couple of those as I mentioned going on I think there's some really good conversations going on in the market so if people are looking for those conversations you know please please reach out I'm more than happy to send you links and notices of what we're what we're seeing in the market to address these issues yeah and I will also point out that our May sixth online conference will treat sales performance management as really the number-one issue in fact it's what we're learning from our registrants that that is of concern top concern to well over half of the people registering for our conference all I'll put that slide up just as a way of reminding folks that you can register for that in the coming weeks that is May 6 well I'd like to just take a moment and thank our presenters rod Blum and Brad Burnham --an and their colleague Kevin excuse me Mike so sorry Mike and gentlemen thank you for being with us it's a really important topic and we really appreciate your insight today appreciate thanks for having us Bob but yeah so I am will also just take a moment before we sign off and remind our audience that our next sales management association presentation will be on April 23rd will host a session at that time on rethinking the business-to-business sales funnel we hope you can join us for that session learn you can learn about it and register for it and learn about other sessions as well on our website at sales management org I'm Bob Kelly sales management association chairman thanks again for your time and attention today goodbye until next time you you