miFIN™ Incentives

miFIN™ Incentives

miFIN™ Incentives is a powerful, flexible and intuitive technology that simplifies incentive compensation management and streamlines complex commission and incentive programs. miFIN™ Incentives replaces spreadsheets and simplifies the often complex processes in your organization, making them more suitable, precise and easy to maintain. It helps in putting in place and track effective incentive programs to promote organizational objectives across internal employees and third party channels alike. It improves the controls in third party payout process and helps in removing leakages in the payout processes.

Business Benefits

Using automation through an auditable framework, it not only obviates possibilities of human errors but can also help in minimizing the scope of leakages in the pay-out processes.

Reduces risk with improved controls

miFIN™ Incentives empowers you to configure and manage incentive policies involving multiple parameters through an easy and intuitive user interface.

Configurability to implement and manage dynamic incentive policies

By bringing incentive compensation management across business functions under a single transparent and auditable framework, miFIN™ Incentives helps reduce manual effort required for calculations, data transformation, and maintenance and exchange of spreadsheets containing sensitive data, resulting in direct cost savings.

Reduces cost with improved controls

miFIN™ platform is scalable and fast, rendering incentives results in minutes and hours when compared to days leading to accurate and timely computation of Incentives. The transparent and, system-driven framework further helps to identify and resolve grievances quickly.

Motivated Workforce

Why miFIN™

Comprehensive platform for a flexible and exhaustive incentive eco-system

With miFIN™ Incentives, you can bring the organization’s total incentive compensation management program under one framework that is transparent and easily auditable.

Define complex incentive calculation logics with ease

The easy to use, intuitive interface empowers business users and incentive program owners to set up and modify dynamic incentive plans and rules with ease.

Ease of integration

In addition to direct integration, miFIN™ Incentives offers a built-in configurable data upload and download framework to ease the process of integration – both for getting the input data from multiple source systems and for disseminating the data to target systems.

Smart reporting and communication

miFIN™ Incentives allows you to configure templates for disseminating reports after the conclusion of an incentive cycle. The integrated communications engine sends system generated invoices, supportings through emails and SMSs to various stakeholders.

Highlights

Easier issues redressal with transparent system-driven framework

Flexibility to base incentives on one or multiple source data attributes

Templatized reports and communication using e-mail/SMS to various stakeholders

Ability to define multiple incentive units: currency, reward/loyalty points etc

Integrate with third-party application processing systems and spreadsheets

Comprehensive framework for enterprise incentive compensation management across business functions like sales, collections, credit, operations and across people like employees, customers, third party workforce.

Maintains complete audit trail and historical information

Highly configurable, to define complex rules-based incentive plans like hierarchy driven plans, frequency and target driven plans, dependent plans, target based plans