Co-operative Financial Services (CFS) Selects Merced Systems to Automate and Streamline Incentive Compensation Management
Merced Systems further extends its presence in the Financial Services sector
Redwood Shores, CA, and London, England, April 23, 2009 — Merced Systems, the leader in Sales and Service Performance Management software, today announced that it has been selected by Co-operative Financial Services (CFS) to automate and streamline its incentive compensation management programme.
CFS, part of the largest consumer co-operative in the world, will implement Merced Incentive Compensation Management to boost sales force motivation and performance, and to provide key business and financial management information (MI) in order to proactively manage market fluctuations.
Merced Incentive Compensation Management delivers:
- Automated commission, bonus, and incentive administration processes for reduced incentive overpayment and reduced total cost of ownership
- Advanced reporting and analytics offering visibility into real-time business results
- Comprehensive modeling and forecasting facilitating proactive response to market fluctuations
- A singular integrated platform delivering full incentive management functionality and allowing business users the ability to easily implement changes to compensation plans, sales hierarchy, user access rights, and workflows
“CFS is proud to be partnering with Merced Systems to roll-out a comprehensive incentive compensation management system with the aim of improving the effectiveness and productivity of our sales force,” said Fiona Jackson, Head of Business Development at CFS. “Merced Systems’ proven track record of customer success makes us confident that we can achieve the front-line change we need to meet our business goals.”
“Being selected by CFS further extends our leadership position in Financial Services,” commented Jo Walker, Managing Director of Merced Systems Ltd. “We are excited to be working with such a forward thinking and performance driven organisation that recognises the power of Merced Incentive Compensation Management. By delivering category-leading incentive modeling and analytics tightly integrated with the most powerful calculation engine in the industry, Merced Systems will enable CFS to improve the performance of its field sales force.”
About Co-operative Financial Services (CFS)
Co-operative Financial Services is part of the wider Co-operative Group, which is a unique family of businesses run by over two-and-a-half million members, each of whom has a say in how the organisation runs. The businesses are Food, Financial Services, Pharmacy, Travel, Legal Services, and Funerals, with 87,000 employees serving around 10 million customers a week in over 4,000 high street branches and through online shopping.
Co-operative Financial Services covers Co-operative Insurance, Co-operative Investments and The Co-operative Bank. CFS have approx 6.5 million customers and offer a range of financial products and services such as Current Accounts, Savings Accounts, Mortgages, Loans, Credit Cards, Internet Banking, General Insurance, Life and Savings, Unit Trusts, Trust Funds and Pensions.
