11.12.2007 13:05:00
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New Cognos Performance Solution Helps Pharmaceutical Companies Optimize Sales Quota Management
Cognos® (NASDAQ: COGN) (TSX: CSN), the world
leader in business intelligence and performance
management solutions, today announced the launch of a new
performance solution designed to help pharmaceutical companies more
effectively determine and manage territorial sales quotas that are in
line with corporate revenue objectives.
According to Gartner: "Few organizations have aggressively explored the
potential strategic benefits -- that is, increasing their understanding
of the effectiveness of compensation strategies, and the
interrelationships among compensation, territories and quotas in
securing sustained improvements in sales performance. Moreover, at
various points during the project planning and execution life cycles,
measures should be adopted to sustain awareness, focus and commitment to
capitalizing information as a strategic resource. At the same time,
technological options should be explored for potential contributions to
efforts." *
The Cognos Sales Quota Allocation Blueprint provides a performance
management framework that helps pharmaceutical companies strike the
right balance of revenue targets that reflect each territory’s
unique market characteristics in order to effectively meet
organization-wide sales and profitability goals. The Blueprint offers
incentive compensation analysts and sales managers enhanced visibility
into their distributed sales management processes, ensuring each sales
force is maximizing revenues by focusing on the right mix of products
for their territory, and is working towards the most appropriate
performance incentives.
Using out-of-the-box functionality from Cognos 8 Planning and Cognos 8
Business Intelligence (BI) – including
dashboards, analytical reports and a pre-configured data model –
and encompassing pharmaceutical industry best practices, the Cognos
Sales Quota Allocation Blueprint lets pharmaceutical companies:
visualize historical outcomes and project future sales quota
attainment using intuitive dashboards
forecast and model the optimal weighting of key sales quota drivers,
from which regional sales management can customize quota plans based
on local market conditions
set future sales quotas based on the most historically accurate
business driver weightings
consolidate disparate quotas across the organization to create a
single view of sales performance objectives
shift scarce resources across territories to address changes in
internal or external factors impacting market conditions
enable accountability, eliminate the use of distributed spreadsheets
and remove manual reconciliations through automated audit trails and
powerful workflow management
"Managing salesforce quota can be a complex
undertaking, particularly in large, enterprise pharmaceutical
organizations with hundreds or thousands of sales people across
different territories, each focusing on a different array of products
they need to bring to market. Without an effective quota allocation
system, pharmaceutical companies are at risk of missing new sales
opportunities, adjusting to new market conditions, and meeting bottom
line corporate objectives,” said Susan Gold,
vice president of industry marketing and solutions, at Cognos. "The
Cognos Sales Quota Allocation Blueprint offers our customers the tools
they need to ensure sales quotas are allocated fairly, aligned with
revenue objectives, and completed in a timely manner, freeing up
management’s time to focus on driving revenues
and profitability.”
Available immediately to customers, the Cognos Sales Quota Allocation
Blueprint is the fourth pharmaceutical solution launched in the past
year and a half. The Cognos
Clinical Trial Enrollment Forecasting Blueprint, launched in
September 2007, together with the Cognos
Clinical Trial Forecasting Blueprint, launched in May 2006, enables
customers to seamlessly update financial projections as their enrollment
projections evolve, helping them better understand the cost of changes
and the Dollar effect of enrollment projections. Rounding out current
pharmaceutical offerings is the Cognos
Sample Optimization Blueprint, also launched in May 2006, and
designed to help organizations build optimal sample distribution
strategies that take into account current market conditions, field level
information, inventory plans, and other corporate goals.
Cognos is a recognized leader in delivering performance management
solutions for the pharmaceutical industry. Currently, 25 of the top 30
pharmaceutical firms rely on Cognos performance management software,
including Novartis,
Bayer UK,
and Quintiles
Transnational. For more information about Cognos solutions for
pharmaceuticals and life sciences, please visit www.cognos.com/lifesciences * -- Source: "Sales Incentive Compensation
Management Achieves Operational Benefits, but Must Focus on Strategic
Value” Michael Dunne, Gartner, 5 April 2007 About Cognos Performance Blueprints:
Cognos offers a full suite of Performance Blueprints to address planning
and performance management process areas that directly impact an
organization’s ability to create business
value. Both functional and industry-specific process areas can now be
automated, streamlined and transformed to help organizations quickly
create more business value. Developed by the Cognos
Innovation Center for Performance Management, the Cognos Performance
Blueprints are a key component within the Cognos Performance Management
System, which combines technology, best practices, analytical
applications and solutions, and a broad network of partners into a
single performance management solution. For further information on the
Cognos Performance Blueprints see http://www.cognos.com/innovationcenter/blueprint.html.
About Cognos:
Cognos, the world leader in business
intelligence and performance
management solutions, provides world-class enterprise planning and
BI software and services to help companies plan, understand and manage
financial and operational performance.
Cognos brings together technology, analytical applications, best
practices, and a broad network of partners to give customers a complete
performance system. The Cognos performance system is an open and
adaptive solution that leverages an organization’s
ERP, packaged applications, and database investments. It gives customers
the ability to answer the questions -- How are we doing? Why are we on
or off track? What should we do about it? –
and enables them to understand and monitor current performance while
planning future business strategies.
Cognos serves more than 23,000 customers in more than 135 countries, and
its top 100 enterprise customers consistently outperform market indexes.
Cognos performance management solutions and services are also available
from more than 3,000 worldwide partners and resellers. For
more information, visit the Cognos Web site at http://www.cognos.com.
Cognos and the Cognos logo are trademarks or registered trademarks of
Cognos Incorporated in the United States and/or other countries. All
other names are trademarks or registered trademarks of their respective
companies. Note to Editors: Copies of previous Cognos press releases and
Corporate and product information are available on the Cognos Web site
at www.cognos.com.
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