Individual Compensation Plan (ICP) - Sales Incentive Payments
Hi All. We have sales employees in our organization that receive quarterly commission payments. We are using an ICP to enter, approve and pay our sales incentives. Our current process:
- Controller enters sales incentive payment for each employee and submits for approval
- Group CFO receives each approval request and approves in system
- Approved incentive amount transfers to the payroll module
We have approximately 250 sales employees that may receive an incentive payment each quarter. Entering 250 payments and approving 250 payments is time consuming for our controllers. We considered creating a workforce compensation plan each quarter; however, we would need 3 different plans to accommodate the 3 different approval paths and the CFO would be unable to fully approve a plan until all payments have been entered.