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Health Insurance Giant Streamlines Incentive Compensation Approvals with Iconixx Incentive
Although it had more than 5,000 employees and 2 million plan members, Blue Cross Blue Shield of Tennessee was still calculating bonuses manually. The drain on HR and accounting resources was huge, and sales engagement was hurting. Iconixx Incentive gave the organization the flexibility to revise its incentive and bonus system goals in response to market changes, and to produce immediate reports to examine how the plan is working. The accounting department’s time and resources to calculate the monthly accruals were reduced 75 percent, and the time required to calculate quarterly bonuses was cut in half.