Xactly Corporation, San Jose, CA
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
Nomination Title: Xactly Insights
Tell the story about this nominated product or service (up to 650 words). Describe its function, features, benefits, and sales to date:
Xactly Insights is a big-data cloud offering, which provides sales incentive intelligence to customers who wish to develop more impactful, results-driven compensation initiatives. 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, including spending and crediting, against peer companies in similar industries. Ultimately, Insights gives customers the information they need optimize how they incent and engage their employees.
This “real-world” data does not exist anywhere else in the market today, but is becomingmore valuable than ever. In fact, in its recent 2015 Magic Quadrant for Sales Performance Management report, Gartner predicted, “by 2017%, 15% of organizations will use crowdsourced benchmarks to design their incentive compensation plans.” Using Xactly Insights, companies can gain a better understanding of how they rate against the compensation best practices of comparative companies. With this intelligence, companies can not only reduce costly errors and over spending, but also understand how to adjust incentive compensation to inspire a whole new level of engagement and productivity. With their individual Xactly Insights scorecard, companies can address critical compensation questions, such as:
• How does my compensation spend stack up against other companies my size?
• Are my quotas aligned with my industry peers?
• How does my team structure compare to my peers?
Xactly Insights is based on years of actual sales compensation data that has been anonymized and aggregated within Xactly’s enterprise cloud compensation platform. The Xactly platform calculates more than a billion transactions each month and customers have paid out more than $10 billion in incentive compensation payments in just the last two years alone. With terabytes of data, companies can self-select a benchmark based on unique characteristics such as industry and company size.
Xactly Insights is available as a offering within Xactly’s larger compensation management platform. In addition to the self-service application, customers can engage in custom consulting projects based on Xactly’s Insights data in order to benchmark their initiatives against industry best practices.
The largest obstacles Xactly faced were getting nearly a decade worth of data into a format that would enable easy analysis, as well as finding the tools to make that analysis possible. While the company has always employed leading data management technologies, like Oracle Database, only recently have big data analysis solutions, like Hadoop and MapR, become mature enough to make the analysis feasible and possible.
Leveraging those technologies, as well as the expertise of its data scientists and business analyst team, Xactly has made Insights possible.
With the release of Xactly Insights, Xactly becomes the only company that allows customers to create intelligent compensation initiatives based on actual sales compensation and best practices data.
Being able to monetize the data it is already collecting, and offering this kind of big data solution to the market, represents a game-changing market opportunity for Xactly – and a huge value-add for its customers. One such benchmark pinpointed areas for refinement in a well-known SaaS customers compensation plan and yielded the company a seven figure savings annually.
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