Strategix Performance: Case Studies
Proven Performance: The Exceptional Value of Experience
When organizations are seeking to improve performance, execute strategies, achieve goals, and boost ROI, experience counts. In uncertain and competitive times: more than ever. Since its establishment in 1983, Strategix Performance has served hundreds of organizations, designed and implemented thousands of business and employee performance improvement plans, and provided its unique capabilities to millions of users.
Collaborating closely with clients over the years has produced unsurpassed business process and software technology solutions for Sales and Performance Management (SPM), Variable/Incentive Compensation Management (VCM/ICM), Business Activity Management (BAM), and Customer Relationship Management (CRM).
Rapid ICM Implementation
Throughout the past decade, in dozens of implementations, the extraordinarily robust StrategixEPM™ engine, with its over 400 pre-built-in metric/incentive calculation algorithms, enabled client-deployment of wide-ranging incentive compensations plans in a fraction of the time required by other solutions. This highly cost-effective flexibility and power has also enabled rapid changes and adaptation as client performance management plans evolve quickly in response to dynamic market changes.
Incentives Everywhere: Workforce, Customers & Partners
In 2010, multiple channel expert partners deployed StrategixEPM™ to automate broad and complex performance scorecards and incentive compensation programs for not only their workforce and management hierarchy, but also for all customers, and service and distribution channel partners. The Strategix system was the only solution found that had the robust and flexible capability to fulfill these requirements.
Automating Goal-Based Equity Compensation Programs
In 2009, an industry-leading equity compensation consulting firm deployed StrategixEPM™ to automate both the period-to-period calculation of equity-based compensation awards, and the Lifetime Program-to-Date totals of granted and vested awards. This included full utilization of the System's forecasting capabilities for award probability estimate calculations.
Outsource Sales Operations & Incentive Management
In 2008, resulting from dramatic cost-reduction priorities, a multi-billion asset financial institution sought to rapidly outsource a non-core skill-set: sales operations management and incentive plan administration. With unparalleled experience and a Systems solution that far out-performed the bank's internal home-grown tools, Strategix transitioned the bank's 1,750+ participants to its fully outsourced browser-based solution before the next incentive deadline.
Synergizing Process & Technology
In 1996, one of the largest international conglomerates based in Africa set out to optimize sales, service, and customer relationship value performance and results by creating an enterprise-wide workforce performance management process and framework. Spanning over twenty diverse strategic business units, with tens of thousands of employees at thousands of sites, the challenge was to create a solution that would universally serve stakeholder and management objectives, customer relationship expectations, and employee aspirations.
Over the multi-year project, Strategix EPM professional service consultants coordinated with hundreds of line-of-business, and process and technology support managers and teams, and created an unprecedented comprehensive employee performance plus customer relationship management process and technology integration plan.
The plan included frameworks and methods for goal-setting and performance planning; on-demand activity and results management and reporting; individual and team-based sales, referral, service, and productivity incentive and recognition programs; multi-platform source data and data warehouse integration; technology platform development and deployment; management coaching; and performance evaluation.
The project pre-dated the popular emergence of CRM by 2-3 years, and the more recent explosion in employee and business performance management by almost a decade.
High Velocity On-Demand Sales Management
In 2001, in the midst of extraordinary challenging market, economic, and regulatory conditions, a $15 billion East Coast USA commercial bank sought to accelerate their sales goal-setting, reporting, incentives, and management processes. Data crucial for successful employee performance and customer relationship management was fragmented and dispersed across multiple source data systems, some virtually inaccessible; even a costly and under-utilized data warehouse system was incomplete and inconsistent. Yet, to be ultra-responsive amid very fluid market conditions, sales leaders urgently needed “on-demand” sales prospecting activity, referral, and sales results management.
Collaborating with client Information Technology teams, Strategix created automated periodic extracts and unification of required information from all source data systems into the StrategixEPM™ solutions, providing a Hosted Intranet-enabled, browser-based, universally-deployed and accessible employee and CRM performance management platform. Strategix EPM professional service consultants created specific performance scorecard reports for each employee job group, and enabled automatic role-based goal assignments to accelerate the employee onboarding-to-producing timeframe. Corporate financial objectives were allocated and distributed down the hierarchy, enabling full drill-down and roll-up of targets, all reported via on-demand employee up to enterprise performance scorecards, dashboards, and detail reports.
As a result of the deployment, top performing employee retention improved dramatically, the volume of cross-sales referrals tripled, sales from referrals increased two-thirds, and overall sales nearly doubled. In addition, incentive payments were accelerated from semi-annual and quarterly, to quarterly and monthly, greatly improving the alignment and relevance of employee performance and resulting rewards.
Mass-Scale Employee Incentive Automation
In 1999, a $45 billion US holding company wanted to dramatically improve the relevance, accuracy, timeliness, and usability of their employee performance improvement incentive and recognition programs across their multi-state, one-thousand-plus site sales and service network.
They needed to replace a fragmented patchwork of archaic mainframe, client-server, PC, and manual business performance tracking and reporting systems, and they did not want every line of business to use disparate business intelligence tools to build unauditable home-grown solutions. They sought a single cross-enterprise system to automatically administer an extraordinarily diverse range of sales, sales management, referral, relationship, service, accuracy, and productivity-based individual and team-based incentive plans.
In less than 90 days, they deployed the Strategix Performance Manager™ solution, a mass-scale browser-based on-demand employee performance management system, via the organization’s in-house Intranet, to over 10,000 management and key staff users. Post-month-end paper and spreadsheet reports were replaced with daily and weekly on-line, user-defined performance scorecards down to the individual employee level.
Two-dozen disparate performance data sources were integrated. Strategix EPM professional service consultants validated, rationalized and formally documented employee incentive plans, scorecards, and related performance management processes, improving incentive budget effectiveness by nearly 200%, as well as preparing the enterprise for inevitable regulatory audits.
In addition to these improvements, via Strategix’s Full-Service Outsource deployment mode, the enterprise increased velocity of information by 600%, increased sales by over 35%, and reduced costs of administering the employee performance management and incentive process by over 80%: All-inclusive System cost per employee was reduced to less than twenty cents per day.
Making CRM Work
A $12 billion, 250-site multi-affiliate regional bank holding company in the Midwest USA, needed to make CRM work: improve service, increase cross-selling, enhance customer satisfaction, improve relationship and account retention, and increase customer profitability. Existing costly and under-performing computerized Customer Relationship Management capabilities were technically non-integrated, difficult to use, and not aligned with internal CRM performance targets or manager performance improvement objectives. CRM wasn’t working within and across diverse lines of business, for customers or employees.
To gain the added benefit of fully enabling service and relationship portfolio-based employee incentives, the bank implemented the natively integrated Strategix Performance Manager™, Referral Manager™, and Service Manager™ solutions. Via Strategix’s End-User License deployment mode, at a cost of less than fifty dollars per site (not per employee) per month, the enterprise delivered the fully browser-based functionalities enterprise-wide via their in-house Intranet, to standardize and unify intra- and inter-unit customer/product referrals; customer service problem resolution request tracking, routing, and resolution; and all related employee performance measurement, reporting and incentives.
In addition to standardizing CRM processes across the enterprise, outcomes of this deployment included dramatic reductions in lost and duplicate customer service requests, acceleration in time-to-resolution, increases in sales per customer and products per household, and increases in both customer and top-performing employee retention.
Established in 1983, Strategix Performance is a true founding innovator in incentive automation (EIM) and employee performance management (EPM) system solutions and implementation services.