Incentive Compensation Management (ICM) Solutions provide a powerful tool to improve the accuracy, timeliness, and transparency of incentive payments. However, in a fast-paced world with a constantly changing market landscape – organizations need to focus on their sales and compensation strategies instead of their administration. The logical solution is to invest in ICM Managed Services. Managed service is a solution where some or all our company’s ICM support needs are outsourced to an expert managed services partner. It’s a popular choice for growing businesses or businesses with complex ICM frameworks that become inefficient to support in-house. Managed services help to manage costs, improve scalability, provide expertise, and reduce risk. The challenge then quickly becomes determining which model of managed services is right for you based on your business needs.
Does your ICM team need support during the crunch times such as annual planning or calendar close, that happen in a six to eight-week window? Instead of overburdening your administrators, consider an elastic workforce that can be utilized as support. This managed service support model is scalable to your needs and can be extended to provide year-round support, enabling your key staff to focus on higher priority tasks. This scalable elastic workforce can be Technical (support with plan and other system updates) or Operational (support with administrative tasks). If your resource strategy is primarily focused on growing your business and does not want to incur the administrative burdens of developing an ICM team in-house, a more comprehensive support model that provides end-to-end ICM services from annual plan design to full-year incentive compensation administration may be right for you.
Company size, bandwidth, or industry should not be barriers to reaping the benefits of an ICM solution. Based on your organization’s strategy and business needs, there is a bespoke managed services model that can provide the level of support. The key is to partner with an ICM services provider that can help you separate the signal from the noise and help identify the solution that is right for you.
At Blue Horizon’s Group, we provide the exact opposite of the “one size fits all” approach to managed services. Our managed services packages are based on Seasonal, Year-Round, and Turnkey models. Each of them can be tailored to your specific needs. Whether it is enterprise-level support or just an extra pair of hands to get you over the busy weeks, we have the support you need.