Tracking and reporting are always a key part of incentive rewards for surveys and research, but in certain industries, like pharmaceutical and health care, it takes on an even more important role. Researchers in these fields have a higher burden of recordkeeping, and complying with all the relevant regulations and audits can pose a challenge.
In such cases, your tracking must go well beyond your budget and your available rewards. You often also need to keep thorough records of other aspects of your incentives, including:
Manual management of incentive rewards is the enemy of accurate tracking and reporting. When your data consists of multiple spreadsheets and email threads, the probability of errors or out-of-date information skyrockets. And when it comes to audits and compliance, those insufficient records can lead to big issues later on.
When you move to digital incentive rewards (if you haven’t already), it opens up a much more streamlined way of managing and tracking. In fact, you can implement an integrated rewards management system to make much of this process automatic.
An incentive management system has many advantages to help you comply with all necessary regulations and to keep accurate records for any future audits. These include:
Accurate tracking isn’t just important for researchers in industries with strict regulations. Having the right incentives data is also key for your organization internally. This is especially true when you have multiple projects and teams using rewards, as may be the case at a market research firm with many clients, a university with studies that span across departments, or a company with an in-house UX research team covering several products or services.
By using digital rewards distributed through the right management platform, it’s easy to allow multiple users and teams to access the incentives and related data they need, but you also need the ability to set guardrails. For instance:
With the flexibility to set these controls, you can better manage your incentive rewards and more easily separate your reporting for end-of-year reviews and budgeting.
The advantages of using digital research incentives over cash, checks, or physical gift cards aren’t difficult to see, but if you’re still managing those incentives manually, it might not make compliance with regulations and audits any easier. When you add in the streamlined tools of a rewards management platform, though, your tracking and reporting becomes easy and automatic.
Find out more about BHN Rewards’ robust tracking and reporting capabilities in our Product Tour!