Company: Xactly Corporation, San Jose, CA
Entry Submitted By: Blanc and Otus
Company Description: With Xactly, companies unleash the motivational power of their incentive compensation. Our cloud-based, secure solutions help customers take control of their incentive processes and inspire performance.
Nomination Category: New Product & Service Awards Categories
Nomination Sub Category: Incentive Management Solution – New Version
Nomination Title: Xactly Incent
Tell the story about this nominated product or service (up to 650 words). Describe its function, features, benefits, and sales to date:
Sales are the lifeblood of any business, and sales compensation is the primary vehicle to track and reward sales success. It is also one of the biggest cost centers in an organization; U.S. businesses spend more than $800 million annually on sales compensation. However, many companies continue to rely on spreadsheets – a time intensive and error-prone process that stifles performance and motivation, limits visibility, and results in costly mistakes.
With Xactly, companies can build a better business through the power of incentives. Xactly Incent, a cloud-based incentive management platform, enables anyone to design and manage the ideal incentives to inspire employees and drive better results. Using the Incent platform, customers can reduce cost, risk and time associated with administering compensation, while improving sales engagement and performance.
For example, Xactly customer Cbeyond was facing a major shift in its business, moving from delivering on-premise to cloud-based solutions. Cbeyond needed to quickly realign its compensation programs. The company faced an uphill battle as existing methods for designing and managing compensation were complicated, slow and caused issues - from errors to universal mis-trust in the numbers and disputes between sales and finance on compensation payments).
With the Xactly Incent platform, Cbeyond created a customized compensation program that supported this strategic company change, while achieving an:
• 88 percent decrease in sales disputes
• 40 percent increase in cloud sales
• 30 percent increase in sales representative productivity
• 50 percent increase in sales representative retention
• 99.6 percent forecast accuracy
• 100 percent compensation compliance
Operating on a 6-8 week agile development cycle, Xactly delivers new innovations to customers based on their most pressing requirements and future trends in the market. Amongst them in 2015 were a number of game-changing updates to the Xactly Incent platform and its related sales performance management modules, including:
Insights. Released in August 2014, Xactly’s big data offering, Insights, helps organizations better harness the power of incentive compensation through data-driven intelligence. Built on the industry’s most comprehensive set of empirical sales incentives and compensation data, Insights allows customers to benchmark their own incentive compensation programs against peer companies in similar industries in order to optimize results.
With Insights, companies can see how they rate against the compensation best practices of competitors, allowing them to strategically design compensation programs. With this knowledge, companies can reduce costly errors and over spending, while understanding how to adjust compensation to inspire a new level of engagement and productivity. This real-world data does not exist anywhere else today.
Objectives. Objectives brings the power of strategically designed and managed incentive compensation to the masses; enabling companies to create a more engaged and better-aligned workforce. Managers input goals and values that every employee tracks throughout the week, month, quarter or year. Employees can view how their work helps the business reach its objectives, while managers can monitor performance. In 2014, Xactly released a number of critical enhancements to Objectives, including easier administration and goal setting, improved workflow and product localization (including French, German, and Spanish).
Views. Released in 2014, Views allows companies still leveraging spreadsheets to manage compensation to take advantage of better visibility and analytics. Views offers customization services that can integrate data from Incent and other data sources to create a holistic compensation view; something not possible with spreadsheets. Through the Views portal, users can run and distribute a custom report at any time, view the status of reports they are running, audit their custom reporting history, and download results from their custom report runs.
Named a leader in the Gartner Magic Quadrant for Sales Performance Management, Xactly has proven that properly designed incentives can inspire new levels of employee engagement and results. As such, the company continues to work closely with customers to deliver the innovations and insights they need to gain a strategic business advantage.
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