In today's fast-paced business landscape, companies rely on effective incentive compensation management to motivate and reward their workforce. However, managing complex compensation programs can be a challenging task. Oracle, a global technology leader, has addressed these challenges by leveraging its robust Software as a Service (SaaS) cloud service built on the backbone of the Oracle Cloud Infrastructure (OCI) platform and leveraging the Oracle Autonomous Database.
Seven reasons to choose Oracle OCI to run incentive compensation
- Lightning-fast performance: Oracle OCI's cloud infrastructure is designed to deliver exceptional performance. When it comes to running incentive compensation, speed is crucial. Oracle OCI provides high-performance computing resources, ensuring faster execution of complex compensation calculations. The optimized architecture of OCI's compute instances enables rapid processing, allowing organizations to handle large volumes of compensation data efficiently. As a result, businesses can perform calculations in real-time, reducing processing time and delivering prompt, accurate incentives to their employees. In addition, the tight integration between Oracle Incentive Compensation and other Oracle functions such as Enterprise Resource Planning (ERP), Human Capital Management (HCM), and Oracle Sales ensures smooth data transfer between applications, reducing the risk of data loss or inconsistencies, and maximizing efficiency and accuracy.
- Unparalleled reliability: Reliability is a critical factor when running incentive compensation systems. Oracle cloud services guarantees high availability and fault tolerance, ensuring uninterrupted operations. Its robust infrastructure is built with redundant components, eliminating single points of failure. Automatic backups, disaster recovery options, and reliable data centers with multiple availability domains make OCI an ideal choice for running mission-critical applications like incentive compensation. Businesses can have peace of mind, knowing that their compensation processes are resilient and operational, even during unexpected events. This robust OCI architecture provides a reliable solution for customers backed by Oracle’s 99.9% uptime commitment.
- Security: Security is a paramount concern when dealing with sensitive compensation data. Oracle takes a holistic approach to information security, implementing a multi-layered defense security strategy where network, operating system, database, and software security practices and procedures complement one another with strong internal controls, governance, and oversight. Additionally, Oracle Incentive Compensation customers can utilize break glass for fully-audited, time-limited access to customer data with explicit permission for support purposes. Lastly Oracle is completely configurable by role, leveraging powerful access groups functionality to allow customers to define custom security rules that are assigned dynamically to any object in the Oracle Cloud.
- Scalability: Oracle provides scalable and versatile cloud-based solutions that fit in with and enhance any organization’s existing technology architecture. Since server performance is managed by Oracle cloud operations, our customers do not need to manage server performance. Oracle will resize their environment based on the customer’s needs either through reactive monitoring or proactively via resize requests through Oracle Support. This framework can grow and adapt with their needs and directly reduces implementation, maintenance and IT costs, enables rapid issue resolution, grants market-leading system uptime, and simplifies the overall technology footprint, thereby reducing infrastructure and integration complexity.
- Automatic upgrades: Oracle has invested heavily in upgrading all existing customers to the next generation of OCI. This includes upgrading hardware, operating systems and all associated connectors to the latest Oracle Exadata and Oracle Autonomous Database technology. Existing customers have benefited from this seamless SaaS-based upgrade, with significant boosts in processing speeds—all at no cost to the existing customers. New customers get provisioned next-gen OCI automatically. This ensures continual reliability and performance without any technical debt, and constant access to the latest technologies such as next-generation capabilities, including machine learning (ML), artificial intelligence (AI), and natural language processing (NLP).
- Data residency: In 2022, Oracle announced the availability of OCI Dedicated Region, enabling our customers to run Oracle Sales while addressing local data residency requirements, and new Oracle Sovereign Cloud Regions designed to address data compliance laws within the European Union, further enhancing Oracle’s existing capabilities for data residency, security, privacy, and compliance via our cloud infrastructure.
- Cloud@Customer: Customers have flexibility in how they deploy solutions with both public and private Cloud at Customer options. Oracle Cloud@Customer enables organizations to simplify operations and cost with the benefits of cloud computing from inside their own firewall. With Cloud@Customer, Oracle is the only cloud provider that allows customers to run Oracle Incentive Compensation either in the public cloud, or in their data centers, all while completely managed entirely by Oracle.
About Oracle Sales Performance Management
Oracle Sales Performance Management (SPM) offers advanced tools for incentive compensation, quota management, and territory management. Oracle Incentive Compensation calculates sales incentives accurately and helps ensure timely payments to payees, whether they are employee sales reps, partners or other entities that need to be paid a variable compensation. It can also help determine who gets sales credits on a sale irrespective of whether you have simple or complex crediting rules.
Oracle Incentive Compensation is a leader in this space and part of the reason it is a leader is because it can calculate incentives with pinpoint accuracy irrespective of the complexity of the plans and irrespective of the volume of data. Known in the sales performance management space by many names like Fusion Incentive Compensation, Cloud Sales Incentive Compensation, or SPM Incentive Compensation, Oracle Incentive Compensation is a highly scalable product with customers ranging from small- and mid-size businesses to enterprise-grade customers who process millions of records per month.
Read more about our performance benchmarking results on an OCI based environment.
Keep exploring incentive compensation strategies with these related posts:
Smooth sailing: Manage employee churn with Oracle Incentive Compensation and Oracle HCM
Efficiency redefined: How Oracle Incentive Compensation raises the bar in performance
Beyond bonuses: Master the art of motivating sales success
Director, Product Management
Director, Product Management for Sales Performance Management and CX Sales