Are Life Sciences Industry Sales Compensation Strategies Misaligned Globally?

SEPTEMBER 2021, BERKELEY HEIGHTS

PRESS RELEASE

Are Life Sciences Industry Sales Compensation Strategies Misaligned Globally?

Axtria® Leads Timely Session Discussion @ Sales Comp WorldatWork Conference

Chicago IL - September 1, 2021

c75-shadow.png

The COVID-19 pandemic has caused severe disruptions and surfaced numerous vulnerabilities in life sciences and pharma company sales organizations and functions, historically a primary driver of product revenues and healthcare provider engagement.

As the life sciences industry begins to transition back to a mixed digital/direct sales and HCP engagement strategy, now is an opportune time for companies to rethink and reassess their current global sales compensation programs to make sure their local field forces around the world are optimally aligned with those programs and identify and correct any areas of misalignment.

Axtria (Axtria SalesIQ: Pharma Sales Cloud, Sales Operations, Sales Management) led a session on this topic entitled “Building a Global Sales Compensation Function to Enable Local Strategy” at the Sales Comp WorldatWork Conference, just concluded in Chicago https://www.worldatwork.org/events/2021-spotlight-on-sales-compensation.

“A global sales compensation function needs to balance corporate standards and best practices with different local market needs,” said Vineet Rathi, Principal, Axtria, and co-presenter of the session. “Too much independent control can create misalignment with global strategy, while centralized control can miss known differential market needs and practices. In our session, we shared with conference attendees a framework for structuring a global sales compensation function.”

The session also examined how and which sales compensation decisions and processes should be more globally or locally driven, how to structure global and local sales compensation committees, sales compensation decision-making at the global and local level, and sales compensation scorecards.

“We were delighted to have Axtria present on such a timely topic that gave companies an opportunity to take a top to bottom down look at where their sales compensation strategies are now across their organizations and offices across the globe,” added Muriel Neddemeyer, Marketing Manager, WorldatWork. “Their work in the sales comp and incentive program consulting and sales data analytics and AI technology space is extensive, and our attendees benefited from their expertise and knowledge-sharing in these areas.”

Axtria’s session was presented by Vineet Rathi, Principal, Commercial Excellence; Daniel Stewart, Director of Commercial Excellence; Abhijit Paul, Director of Sales Operations and Strategy; and Ellie Houck, Senior Associate https://web.cvent.com/event/bb357c3a-8aa0-4674-9147-84d36e3ed68b/websitePage:645d57e4-75eb-4769-b2c0-f201a0bfc6ce.

c75-shadow.png

Contact Information
Tony Riggio
Anthony.Riggio@axtria.com
+1.908.839.6335

About Axtria
Axtria is a global provider of cloud software and data analytics to the life sciences industry. Axtria helps life sciences companies transform the product commercialization journey to drive sales growth and improve healthcare outcomes for patients. Axtria has a strong focus on sales and marketing operations in the life sciences industry. With customers in over 75 countries, Axtria is one of the biggest global commercial solutions providers in the life sciences industry.

Axtria helps customers improve operational effectiveness with solutions that leverage Big Data, cloud software, predictive analytics, and machine learning. Axtria DataMAxTM, Axtria InsightsMAxTM, Axtria SalesIQTM, and Axtria CustomerIQTM are cloud based software platforms that enable customers to efficiently manage data, leverage data science to deliver insights for sales and marketing planning, and manage end-to-end commercial operations. For more information, go to www.axtria.com

Trademarks
Axtria, Axtria SalesIQTM, Axtria CustomerIQTM, Axtria InsightsMAxTM and Axtria DataMAxTM are trademarks or registered trademarks of Axtria. Other names may be trademarks of their respective owners.