NICE Systems today announced Release 4.1 of its NICE Performance Management (PM) and NICE Incentive Compensation Management (ICM) solutions. The enhanced capabilities offered in Release 4.1 enable business users, such as compensation managers, to tailor the information they require according to their specific needs without additional IT assistance.
Among its capabilities, Release 4.1 includes an enhanced, user-friendly menu structure for easier navigation; a new charting engine providing a broad set of chart and graph types; and an updated configuration manager enabling business users to efficiently manage the applications. These features enable enterprises to manage, measure, and motivate frontline service and sales employees.
To help organizations align the metrics they measure and the ones on which they compensate, in this latest release, NICE PM and NICE ICM are tightly integrated for organizations that want to manage incentives in their branch, retail, or contact center operations. Employees can be accurately compensated according to their performance by meeting their target KPIs, such as first contact resolution, average handle time, and sales conversion rates.
"As sales and service organizations strive to remain competitive by providing more personalized offerings and higher levels of service to customers, it becomes increasingly important to have efficient processes that motivate, coach, and compensate employees based on their performance," said Mark Selcow, general manager of NICE workforce optimization solutions, in a statement. "The new release of NICE Performance Management and NICE Incentive Management provides organizations with an ideal sales and service platform that can be easily adapted to sales, service, and hybrid environments while providing a low TCO."
NICE PM delivers personalized performance data to employees while automating critical managerial activities. The solution drives closed-loop action and improvement by encouraging behavioral coaching. NICE PM combines performance analytics, planning, and reporting to enable service organizations to effectively analyze the business.
NICE ICM automates the process of commission, bonus, and incentive administration in support of any type of variable pay strategy. It is designed from the ground up to enable business users to manage all aspects of incentive compensation, from loading sales data to creating incentive plans and managing change post calculations. The solution offers sales organizations calculation accuracy, reduced administrative costs, minimized compensation overspend, insight into effectiveness of variable pay spend, improved sales force motivation, and subsequently, customer and employee retention.