Cost Benefit Analysis for Adopting Gamification Software

Making the right choice for your gamification software is easy with this cheat sheet on cost and benefit, while adopting a gamification software.

Insurance Industry
10 Min read
Last Updated on
June 22, 2021

Progressive businesses cannot run on spreadsheets! Technology is the way forward to provide superior experience to internal and external stakeholders. These technologies can either be self-built or can be adopted from the market. The choice is always yours! 

However, here's the cost benefit analysis for adopting a #Gamification software from the market like Xoxoday Compass. Here are some logical facts and perspective that can help you make a decision -

  1. Need for Gamification
  2. Business Impact
  3. Solution
  4. Costs Analysis

Need for Gamification

1. Salesman’s Perspective

Monotony in sales attributes to significant business loss. Salesman faces following challenges -

1. Pushy Goalsheets

  • No Recognition for intermediate achievements
  • Low Motivation to sell

2. Non-Engaging Schemes & Contests

  • Tough to get Scorecards
  • Lack of contests awareness
  • Errors & Delays in disbursals

2. Regional Manager’s Perspective

Delays and errors in publishing contests, scorecards and disbursals make salesmen demotivated. This leads to attrition and productivity losses. Some of the problems of program-admins are -

1. Tracking Live Performance

  • Performance of self, salesman and skip-level reportees
  • Leaderboards of performers, non-performers and inactive users

2. Visibility of Contests & Offers 

  • Unawareness about contests & offers
  • Mapping eligible contests with different segments

3. Communication 

  • Striking earning-based conversations
  • Tough to nudge objectively

3. Program Administrators

Clear and instant visibility of performance data, contests and commission plans, and goalsheets can help managers in striking bang-on conversations. However they face challenges in -

1. Publishing Contests & Commission Plans

  • Design, Publish and Broadcast Contests
  • Track Contest performance

2. Timely Calculations & Disbursements

  • Error-free calculations
  • Adjustment requests
  • Timely disbursal

3. Draw Actionable Insights

  • Inform the salesforce about target gaps
  • Insights on contests

Business Impact in your Business

Hundreds of companies across the globe have trusted Xoxoday. Here are some of the visible impacts that hamper your business  -

1. Opaque Communication

Businesses usually launch performance programs over WhatsApp or Emails. These are static ways to publish programs which require significant effort in re-publishing scorecards, leaderboard and nudges at regular intervals. This makes the sales engine slow and contributes to significant productivity loss.

2. Non-Engaging Commission Plans

Businesses usually launch commission plans and contests to encourage salesmen. However with lack of real-time visibility - the programs become static and not-so-interesting. This means you make spends on commissions without much accelerated sales.

3. Long Processing Time

Incentive processing needs attention of the entire company’s ecosystem. This starts from Program-Admins to Finance to Leaders to Sales team themself. According to gartner - A Salesman spends 15% of his time in understanding, and calculating incentive programs.

4. Budget Leakage

Companies over-spend ~20% of total budgeted payouts due to errors, delays, non-redemptions, and friction-led attrition. Overall companies face over 50% productivity loss due to manual processing of goal sheets, commission plans, nudging at the right time, budget leakage etc.

Digitising Sales Programs as a Solution

The software should have capability to publish salesmen’s goal sheets, commission plans and contests and let them track his performance LIVE. Ready-made templates can enable publishing programs in less than 10 minutes. The product should do real-time calculations, generate scorecards and nudge at the right time. Here are a few basic capabilities of the software.

  1. Publish Contests & Commission Plans  
  2. Live Scorecards 
  3. One-click payments 
  4. Groups & Communities 
  5. Nudges & Notifications 
  6. Trends & Insights

Xoxoday Compass has all above capabilities and you may browse to know more.

Cost Analysis

The need of the product is not just to calculate incentives but it helps you to bring data-transparency that matters to your salesmen and team managers. Compass integrates with your CRM and helps your business in following ways -

  1. 100% Clear & Transparent Communication
  2. 80% Increase in Sales Productivity
  3. 90% Saving On Processing Time
  4. 15% Savings On Budgets
  5. 20% Impact in Attrition rates

 If you have realised the need of the product - here are the minimum cost components you will need to build the solution yourself

S.No. Components Cost Dependency Fixed Cost (INR) Recurring Cost (INR)
1 Server & its maintenance Depends on data-streaming & frequency NA 40 to 80 / User / Month
2 IT Infrastructure Includes infra like Email, SMS, Others for notifications & nudges NA 10 to 20 / User / Month
3 Software Development 1 Data Architect
2 Software Developers
1 Software Tester
1 UX Designer (6 Months)
4-5 lacs / month (for 6 months) NA
4 Software Maintenance D1 software engineer
1 UX Designer
NA 1.5 to 2 Lacs / Month
5 Support Ticketing Depends on user volume NA 1 Lacs / Month
~30 Lacs ~ 4-12 Lacs / Month*
*Depends on the no. of users. These are very optimistic costs and can go high as much as 2-3X.

Xoxoday Compass would however cost you 1/3rd of the setup and license fee (as shared above). Xoxoday Compass has a 100+ member staff with 35 software developers, 5 product managers, 4 Game Designers, 10 testing professionals, 10 implementation support staff, 10 customer support staff, 10 sales and marketing professionals, 5 managers and 10 others managing different admin & finance functions. The entire team is dedicated to providing you Gamification software in its best avatar in the globe! This means you get -

  1. Free lifetime software upgrades as per best market standards
  2. No coding, development and maintenance hassles
  3. Zero errors on calculations guaranteed
  4. Free Insights and Trends to make incentive program smarter
  5. Tech-support experts always at your disposal

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