Xactly Incent - Incentive Management Solution – New Version
Company: Xactly, San Jose, CA
Entry Submitted By: Blanc & Otus
Company Description: Xactly is a leading provider of cloud-based, incentive compensation solutions for employee and sales performance management, addressing a critical business need in the market: To incentivize employees and align their behaviors with company goals. With its unique big-data insights and leading compensation platform and expertise, Xactly takes incentive compensation from a dark art to a science.
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:
With Xactly, companies can build a better business through the power of incentives. Xactly Incent, a cloud-based incentive management platform, provides the technology and expertise to enable any company of any size to design and manage the ideal incentives to inspire employees and drive better results. Why is this important? Because sales continue to be 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, most companies still rely on spreadsheets – a tedious and error-prone process that stifles performance and motivation and results in costly mistakes.
Today, more than 870 customers trust Xactly’s leading cloud-platform, Incent, to reduce cost, risk and time associated with administering compensation, while improving sales engagement and performance.
For example, customer National Instruments was recently awarded the Ventana Research Leadership award for Sales Excellence for their use of Xactly Incent to transform its incentive compensation program from a manual process to one that applies data intelligence to all aspects of its planning and quota setting. The result, more engaged reps and better results.
Another significant Incent success story is Front Bank. With the Wells Fargo incentive compensation scandal, banks are under increased scrutiny. Frost is using Xactly not only to automate and optimize incentives for their associates, but also to build relationships with customers. As Patti Bliss, Senior Vice President, Frost Bank noted, “We want to make sure we are contacting the right customers and understanding the breadth of the relationship. The detailed information Xactly provides helps the bankers do that. We’re a relationship company and we like to do business with companies that are similar to us. That’s what Xactly is all about, too. I can’t say enough about the support Xactly has given us. It has been great.”
To ensure its customers are always on the cutting edge of compensation innovation, Xactly works on an agile development cycle, releasing new features to market every 6-8 weeks. This process includes heavy feedback from customers on the features they are seeking most. Among them in 2016 were a number of game-changing updates to the Xactly Incent platform and its related sales performance management modules, including:
-XACTLY INSIGHTS™: Built on the industry’s most comprehensive set of empirical sales incentives and compensation big data, Insights allows customers to easily benchmark their own incentive compensation programs, including spending and crediting, against peer companies in similar industries in order to optimize results. With Insights, companies gain a better understanding of how they rate against the compensation best practices of comparative companies, allowing them to strategically design world-class compensation programs. With this knowledge, 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. This is the only place in the world this level of real-world compensation data exists today.
- XACTLY CONNECT: The first of its kind SaaS data platform that ties the Xactly Incent compensation and reporting engine into the larger context of established IT processes within an organization, enabling customers to gain total control over their sales compensation data and increase business flexibility. The solution allows customers to easily leverage their own IT resources using industry standard tools to integrate disparate data sources for timely and accurate incentive compensation management.
Built from the ground up and so innovative that Xactly received a patent for it, Xactly Connect is the first platform in the industry that allows companies to streamline processes and self-manage the flow of data into and out of their compensation process.
Named a Leader in the 2016 Magic Quadrant for Sales Performance Management, Xactly has proven that properly designed incentives can inspire new levels of employee engagement and results.