Build vs Buy: Making the Right Choice for Your Incentive Compensation Programs
Build vs Buy: Making the Right Choice for Your Incentive Compensation Programs
7 PagesIncentive compensation is a major expense for organizations, often managed only by sales departments. However, a collaborative approach involving sales, finance, and HR, powered by automated, data-driven incentive compensation management (ICM), can enhance efficiency and growth. Many firms still rely on outdated, error-prone tools like spreadsheets, underestimating the costs and complexities of developing custom solutions. The document contrasts building in-house solutions with purchasing specialized software, highlighting the limitations and risks of manual systems and spreadsheets, such as lack of scalability, security concerns, and increased operational costs.
