The higher the motivation of your sales team, the greater the revenue they produce. Yet, administering intricate incentive programs on a large scale often leads to errors and requires significant manual labor. Xactly Incentive Compensation Management Software (ICM) addresses this fundamental inefficiency.
At Canidium, our team of dedicated experts design, configure, and implement Xactly according to client specifications. We have partnered with Xactly for 12 years.
Based on our extensive experience, this guide covers everything you need to know about Xactly Implementations.
ICM solutions like Xactly are crafted to effectively manage and optimize sales incentives, ensuring your team is adequately motivated and compensated. Xactly processes commissions and bonuses using real-time sales data, automating the calculation of variable pay to eliminate the errors common in traditional methods. This ensures that each salesperson receives accurate compensation without delay.
ICM solutions also support the design and implementation of customized incentive plans tailored to your business needs. These plans can include bonuses for meeting sales targets, extra commissions for upselling, or rewards for sustaining customer satisfaction.
At Canidium, our ICM team skillfully designs, configures, and implements Xactly according to client requirements. Leveraging the deep expertise of our specialists, this buyer’s guide covers everything you need to know about implementing Xactly.
Xactly can keep your sales team motivated, engaged, and focused on driving sales by providing precise and achievable incentives. Let's delve into the core capabilities of Xactly, and explore how it can transform your approach to compensation and incentive management.
Xactly is used by companies to design, implement, and manage compensation plans that align sales behaviors with business goals. Here are four key types of users within a company who typically interact with Xactly and the challenges the solution addresses for each role:
Administrators are responsible for managing complex compensation plans, ensuring they are updated, accurate, and compliant with company policies and regulations Xactly streamlines the management of compensation plans, reduces errors, and ensures compliance through audit trails and reporting capabilities.
Sales reps often struggle with visibility into their compensation and understanding how their sales activities link to payouts. Xactly provides real-time visibility into their earnings and detailed insights into how their sales activities contribute to their compensation. It helps them understand the compensation structure and motivates them by clarifying potential earnings from deals.
Executives need to ensure that the compensation strategy aligns with overall business goals, is cost-effective, and drives the desired business outcomes. Xactly provides executives with analytics and reporting tools to assess the effectiveness of compensation plans.
Sales managers need to monitor team performance, forecast earnings, and adjust targets or territories. Xactly allows sales managers to track team performance against targets, forecast future performance, and make necessary adjustments to territories or quotas.
One of the largest professional recruiting, consulting, and staffing firms in the world chose Canidium to implement Xactly.
The firm needed a powerful, agile sales compensation platform to fuel its continued growth. Not only was it difficult to manage their complex plans in spreadsheets, but they were also causing accuracy concerns and making it difficult to hit both weekly and monthly commission payouts targets. After a competitive review of available systems, the company selected Xactly Incent and kicked off its implementation.
The company had one simple goal: recruiting the best candidates for the best companies. Their growth had been immense, resulting in over 400 salespeople and 1,600 contractors requiring compensation support.
Eliminating more than 1,000 spreadsheets, the firm now has a single source for all of its compensation data and reporting across offices, improving accuracy and cutting commission processing time by 90%. As the sales team also has complete visibility into their sales and statements via easy-to-use dashboards, disputes have been reduced, along with more than 600 weekly commission report emails.
With Xactly Incent, organizations can automate and streamline the calculation and management of sales commissions. The added offering of Xactly Connect facilitates smooth data integration, ensuring that incentive-related information seamlessly flows between Xactly Incent and other crucial business systems.
With Xactly Forecasting, businesses can leverage advanced analytics and data-driven insights to make informed decisions. Canidium's implementation expertise ensures a tailored setup that aligns with the unique forecasting needs of each client.
CEF is a powerful platform designed to elevate accuracy in expense forecasting for sales compensation. Xactly CEF empowers businesses to harness advanced analytics and data-driven insights, facilitating well-informed decision-making.
Xactly CEA is tailored for comprehensive expense visibility and reporting related to sales commissions. By leveraging this tool, businesses gain insights into commission-related costs, helping them manage expenses effectively and make data-driven decisions.
Ultimately, project costs are determined by the required implementation roles, the hours per role, and the assigned rate for each role. We've outlined general solution implementation pricing tables below using a simplified "t-shirt sizing" model for small, medium, and large projects.
The implementation process is as vital to your software investment as the solution itself. The project is a complex workflow designed to configure the solution to your unique infrastructure and processes. Heading into an implementation, it helps to understand how the process works.
Still have questions? You can reach out to our team of experts here.