Alteryx Case Studies Revamping Sales Compensation Model with IoT: A Case Study on CUNA MUTUAL Group

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	Revamping Sales Compensation Model with IoT: A Case Study on CUNA MUTUAL Group Alteryx

Revamping Sales Compensation Model with IoT: A Case Study on CUNA MUTUAL Group

Alteryx

Technology Category	Networks & Connectivity - RFID
Applicable Industries	Cement
Applicable Functions	Sales & Marketing
Use Cases	Time Sensitive Networking
Services	System Integration
Challenge	CUNA MUTUAL Group, a financial services company with $5B in revenue and $44.3B in assets, was facing a significant challenge in managing their sales data. The company was heavily reliant on spreadsheets for reporting, with 70 people depending on these reports on a weekly basis, resulting in the creation of 4,000 spreadsheets annually. The data frequency was also an issue, as salespeople were receiving weekly information, while real-time data was available in Salesforce. The process of increasing data frequency was unsustainable and inefficient. Additionally, the company was using a point-based sales compensation system, which was driving the wrong behavior among employees who were focusing on maximizing points rather than revenue. Read More
About Customer	CUNA MUTUAL Group is a financial services company that has been in operation for over 80 years. The company is committed to helping credit unions, businesses, and individuals build financial security. With a revenue of $5B and assets worth $44.3B, CUNA MUTUAL Group is constantly innovating to stay ahead of the evolving financial landscape. The company operates on the principle of 'people helping people' and aims to create a more equitable financial system that improves the lives of their customers. Read More
Solution	The company adopted Alteryx, a data analytics platform, to address these challenges. The platform enabled the company to eliminate the use of spreadsheets and move to daily updates, saving thousands of hours and cutting cycle time by a third to a half. The company also developed a new revenue-based sales compensation system using Alteryx. The build was completed in three months, with the team creating a single source of truth by gaining access to source systems, aggregating, cleaning, and blending the data. They then created a data science model based on metrics and customer attributes to forecast revenue. The new system was rolled out to all 500 frontline salespeople, leading to the best sales results in the past 10 years. Read More Log in to view content
Contents

Technology Category

Networks & Connectivity - RFID

Applicable Industries

Cement

Applicable Functions

Sales & Marketing

Use Cases

Time Sensitive Networking

Services

System Integration

Challenge

CUNA MUTUAL Group, a financial services company with $5B in revenue and $44.3B in assets, was facing a significant challenge in managing their sales data. The company was heavily reliant on spreadsheets for reporting, with 70 people depending on these reports on a weekly basis, resulting in the creation of 4,000 spreadsheets annually. The data frequency was also an issue, as salespeople were receiving weekly information, while real-time data was available in Salesforce. The process of increasing data frequency was unsustainable and inefficient. Additionally, the company was using a point-based sales compensation system, which was driving the wrong behavior among employees who were focusing on maximizing points rather than revenue.

About Customer

CUNA MUTUAL Group is a financial services company that has been in operation for over 80 years. The company is committed to helping credit unions, businesses, and individuals build financial security. With a revenue of $5B and assets worth $44.3B, CUNA MUTUAL Group is constantly innovating to stay ahead of the evolving financial landscape. The company operates on the principle of 'people helping people' and aims to create a more equitable financial system that improves the lives of their customers.

Solution

The company adopted Alteryx, a data analytics platform, to address these challenges. The platform enabled the company to eliminate the use of spreadsheets and move to daily updates, saving thousands of hours and cutting cycle time by a third to a half. The company also developed a new revenue-based sales compensation system using Alteryx. The build was completed in three months, with the team creating a single source of truth by gaining access to source systems, aggregating, cleaning, and blending the data. They then created a data science model based on metrics and customer attributes to forecast revenue. The new system was rolled out to all 500 frontline salespeople, leading to the best sales results in the past 10 years.

Impact #1	The adoption of Alteryx and the development of a new sales compensation system had a significant impact on CUNA MUTUAL Group. The company was able to eliminate the use of spreadsheets and move to daily updates, which greatly improved the efficiency of their operations. The new sales compensation system led to the best sales results in the past 10 years, providing salespeople with valuable insights into their performance. The success of these initiatives also increased the visibility of the analytics team within the company, earning them a seat at the table with leaders and leading to significant promotions for team members. The company is now working on expanding the use of analytics across the organization, with the aim of providing more insights to leadership and frontline staff and enabling them to make better business decisions.

Impact #1

The adoption of Alteryx and the development of a new sales compensation system had a significant impact on CUNA MUTUAL Group. The company was able to eliminate the use of spreadsheets and move to daily updates, which greatly improved the efficiency of their operations. The new sales compensation system led to the best sales results in the past 10 years, providing salespeople with valuable insights into their performance. The success of these initiatives also increased the visibility of the analytics team within the company, earning them a seat at the table with leaders and leading to significant promotions for team members. The company is now working on expanding the use of analytics across the organization, with the aim of providing more insights to leadership and frontline staff and enabling them to make better business decisions.

Benefit #1	Saved thousands of hours by automating manual processes
Benefit #2	Increased efficiency by 60%
Benefit #3	Achieved 130K views on dashboard annually

Benefit #1

Saved thousands of hours by automating manual processes

Benefit #2

Increased efficiency by 60%

Benefit #3

Achieved 130K views on dashboard annually

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Overview

Revamping Sales Compensation Model with IoT: A Case Study on CUNA MUTUAL Group

Operational Impact

Quantitative Benefit