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Oracle Incentive Compensation Overview

Posted on June 22nd, 2009 by Sanjit Anand ||Email This Post Email This Post

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dgreybarrow What is Oracle Incentive Compensation (OIC)?

Oracle Incentive Compensation is a global compensation management application that allows organizations to align the business objectives with sales force activities. Using Oracle Incentive Compensation organizations can automate the complex task of calculating variable compensation and ensure timely and accurate payments.

Based on the rules of compensation plan that can be configured Oracle Incentive Compensation determines:

  1. What events are eligible for incentive payments?
  2. Who should receive the payments?
  3. How the payments are calculated and paid?

dgreybarrowKey Features of Oracle Incentive Compensation

Oracle Incentive Compensation includes the following features:

Beacuse of better Design, this helps to give

  • 360-Degree Plan View
  • Role-based Plan Assignment
  • Multi-Dimensional Rate Tables, User-friendly Expression Builder
  • Interdependent Plan Elements and Plan Element Checklist
  • Flexible Sales Credit Allocation Rules, Date-effective Territories, and Compensation Group Hierarchy
  • Flexible Transaction Definition, Configurable Data Mapping

From Administration, this helps

  • 360-Degree View of Resources
  • Transaction Research Assistant, Mass Transaction and Credit Adjustment
  • Automatic Payment Worksheets including Draws, Cap Adjustments and Recovery
  • Payment Approval Hierarchy
  • Incremental Calculation and Retro-processing

For Analysis, this helps in

  • Commission Statement, Performance Reports
  • Extensible XML Publisher Reporting Capability
  • Sophisticated Ad-Hoc Analysis
  • Total Compensation View
  • Projected Compensation
  • Complete Audit Trail and Date-Effectiveness

From Technology Aspect, these are:

  • Meta-Data Driven User Interface for Personalization and Extensibility built on Oracle Application Framework (OAF)
  • Have advanced Searches and Configurable Views
  • Have Export to Excel capability
  • Have open Architecture for Integration with External Systems
  • Out-of-the-box Integration with Oracle HR, Order Management, Receivables,Payroll, Payables, Territory Manager, Resource Manager, Quotes
  • Configurable Data Mappings, Pre and Post Collections Actions and Triggers
  • High Performance Multi-Threaded Rules Engine

dgreybarrow Key Benefits

  • Increase Productivity
  • Improved Operational Effectiveness
  • Improved Time to Market
  • Increased agility to respond to strategic and market shifts
  • Improved corporate alignment
  • Improved ability to monitor and measure incentive compensation effectiveness
  • Reduced Administration Costs

Next, we discuss integration and information Flow.:)

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