Answers in Analytics: How Stryker refocused on its customers using better performance management
With savvy customers requiring the highest-quality services and products at the best value, it's imperative that salespeople demonstrate and deliver their value propositions to customers very quickly to be taken seriously. Meeting these customer expectations, however, requires sales leaders to manage their territories as efficiently as possible on the back end to increase sales. In the latest installment of the Answers in Analytics series, you’ll learn how a leading medical device and equipment manufacturer armed its salesforce with an incentive compensation system that lets the company focus on its most important asset—the customer.
Stryker is a leading medical technology company offering diverse and innovative products and services geared toward improving patient and hospital outcomes in orthopedics, medical and surgical, and neurotechnology and spine. Its offerings are available in over 100 countries around the world.
Stryker had an existing incentive compensation system for its sellers that wasn’t quite living up to its standards. The company turned to IBM because it needed a system that was newer, more dynamic and timely. Once Stryker implemented IBM Sales Performance Management, it was able to better manage incentive compensation across its entire US field sales organization. As a result, its user rate increased from 20 to 80 percent over the previous system. More importantly, its salesforce is now more knowledgeable and has access to relevant sales data right away. This allows them to focus more on the customer, and spend more time selling, strategizing and developing business plans.
Also, see how IBM solutions can help you deliver stronger business foresight and steer business performance.