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Crossroads 2002 A-List Award WinnersSynygy, Inc.
Synygy Compensation
CUSTOMERS AT WORK Top companies manage business performance by aligning their incentive compensation plans across the enterprise with their complex and ever changing corporate strategies. Synygy’s customers make certain that this strategic alignment occurs. A leading pharmaceutical company, an industrial control firm, and a major equipment manufacturing company were among Synygy’s reference customers. Common strategic objectives included: § Personalizing individual objectives § Improving sales performance visibility § Streamlining the existing incentive planning process § Reducing related IT costs WHY SYNYGY? Synygy helps its customers succeed by creating an incentive compensation management process that employees can trust. Companies improve the management of their variable pay plans by building plan models and automating the process of calculating and reporting results to each participant. Synygy has built extensive verification routines into its software to ensure the accuracy of data and results even as data sources, plans, and personnel change. Synygy provides software hosting and plan management services for companies interested in saving money through business process outsourcing. BUSINESS IMPACT Near-term value: Business can be full of opportunities and disruptions. Companies needed an incentive calculation process that was as fluid as their dynamic operating environment. One company cut its time frame required for change from six months to less than one month. Enterprise innovation: By improving the accuracy of the information that reaches salespeople, senior management at Synygy customer companies realize opportunities to drive more specific growth goals. These firms intend to hone their ability to improve both market share and cash flow management even as they increase the product configurations they offer and the channels through which they sell to the market. Technology gains: For many companies, incentive management systems have not been formalized and remain a custom application that is distinct from business unit to business unit. Synygy’s customers are establishing a true platform for the enterprise. They are also driving out inefficiencies on three fronts: manual labor, calculation errors, and legacy maintenance costs. Synygy’s reporting and notification capabilities have eliminated the traditional coding bottleneck from the incentive compensation management process. SUCCESS FACTORS Project strategy: All of Synygy’s customers reported that taking an inventory of existing variable pay plans is a critical first step. In many cases, business process owners needed to secure buy-in from product sales leaders on changing outdated or obscure metrics. Learning: Core incentive management staff should receive training on the development and management of parametric business rules. Resources: When a company is changing its incentive compensation plan, Synygy’s customers advise investing heavily in educating the plan participants on the value of simplified metrics and the availability of near-real-time feedback. Fit: Enterprises with national or multinational sales forces and global employees should consider Synygy as a means of automating and ultimately optimizing their plan management activities. COMPANY INFO Synygy is a private company with over 350 employees.
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