New Calculation Components and Global Attributes Features Bring Unmatched Level of Efficiency and Precision to Incentive Plan Building
CaptivateIQ, a leading incentive compensation management (ICM) solution, introduced two features designed to bring a new level of efficiency, scalability and precision to enterprise commission plan management: Calculation Components and Global Attributes.
Commission plan management is only growing more complex as the number of employees on incentive plans increases across organizations. In fact, according to CaptivateIQ’s State of Incentive Compensation report, almost half (49%) of incentive compensation professionals rated the inability to scale their programs as a top challenge. Traditionally, they have had to compromise between using spreadsheets for flexibility, despite the inefficiencies of manual upkeep, or rule-based ICM solutions that offer scalability but limit customization.
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Now, CaptivateIQ – which has long offered a flexible, no-code modeling experience – has reimaged plan building and maintenance for its users, pairing flexibility with scalability through reusable Calculation Components and Global Attributes. Key features include:
Global Attributes
Compensation professionals often spend countless hours on data upkeep. CaptivateIQ’s new Global Attributes feature serves as a centralized source of truth for attribute data—such as roles, teams, and quotas—with effective dating and inheritance. This significantly reduces the manual effort and risk of errors, streamlining the management of commission plans.
Global Attributes allows users to build a table of employee attributes and plan data for use across all plans, making updates from a single hub. This eliminates the need to manually update each plan, ensuring consistency and accuracy. Changes such as employee promotions or quota adjustments are automatically propagated across all relevant plans, further enhancing efficiency.
Calculation Components
Many commission plans share common logic. Reusable Calculation Components enable compensation professionals to create and manage calculations centrally for use across multiple plans. By building a calculation once and reusing it everywhere, users ensure consistency, save time, and enhance accuracy.
For example, a three-tier accelerator, commonly used across different plans, can now be built once and deployed universally, ensuring uniformity and reducing setup time.
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“The commissions space is at a unique inflection point – compensation teams today are expected to incentivize growth in an efficient manner, but with minimal resources,” said Conway Teng, co-founder and co-CEO of CaptivateIQ. “With every new feature added to our platform, we’re helping comp professionals navigate this challenging environment, combining the flexibility to incentivize exactly how they need to, with the scalability to build and manage plans efficiently, no matter the size of the company or number of employees on incentive compensation plans.”
In the near future, CaptivateIQ will enhance Calculation Components and Global Attributes even further by introducing a library of calculation components that make plan builds more templatized and drag-and-drop – speeding up the plan-building process, improving accuracy and efficiency, and driving more efficient growth with easier plan optimizations.