FINANCIAL SERVICES : CHANNEL, SALES AND INCENTIVE MANAGEMENT

The Challenges :
As sales and distribution channels become complex and fragmented, retail financial products companies suffer from low visibility of sales and distribution operations. This is specially the case when sales and distribution functions are spread across multiple organizations and channels. This leads to :

Lack of business visibility : The sales and distribution heirarchy is complex and dynamic. This is further complicated by huge man power turnover. Visibility of this hierarchy along with the activities of brokers, agents, sales personnel to this hierarchy is one of the biggest challenges.

Lack of alignment between business objective and channel behaviour : Organization incentives and profitability is largely decided by interest rates, capital market movements, re-insurance costs, ... whereas this is not directly linked to the incentives of the sales hierarchy quickly. This leads to non alignment of organization and channel objectives.

Lack of agility in being able to respond to changes in market dynamics, competition behaviour and customer demands leads to late reactions, enterprise inertia.

Monitoring and controlling performance : Monitoring of individual, team, campaign and marketing performance on a real time basis to constantly control is a key challenge to learn from operations and incorporate the learnings to formulate strategy.