Xactly, a leading intelligent revenue software provider, helped a well-known HVAC distributor solve its significant compensation challenges following major acquisitions. The company’s subsequent growth made it imperative to implement a market-leading Incentive Compensation Management (ICM) Platform to handle all of its compensation data and needs. By incorporating Xactly Incent to track sales and award incentives, the company achieved exceptional accuracy and experienced remarkable improvements. Read on to learn how.
The Challenge
After acquiring businesses and new territories, the company needed to implement a market-leading ICM platform to manage all its data and requirements related to incentive compensation. Before implementing Xactly Incent, the company was handling its ICM processes in spreadsheets, which weren’t scalable, time-consuming, and vulnerable to human error. In addition, the team wanted the freedom to build complex plans without worrying about the manual effort it would take to execute.
The Solution
The company considered multiple solutions but found that Xactly Incent closely matched its needs. Using Xactly has helped make the entire compensation planning and payout process much easier, by allowing each salesperson to easily access all the data necessary to create reports. This increased level of visibility and detail has allowed all plans and logic to follow a standardized and pain-free process. This transparency gives sales reps more time to sell, rather than focusing on the accuracy of their incentive payouts.
Xactly Incent offers the following key benefits:
- Automated insights: Cuts down incentive compensation payment processing time and delivers better visibility to the leadership team.
- Transparency in data: Provides executives with confidence in the compensation numbers and knowledge that they can look at reports in real-time, drill into the data, and make strategic decisions.
- Improved communication: Promotes smooth communication between departments and fewer complaints.
Results
Following the implementation of Xactly Incent, the company observed the following results:
- 50% reduction in payment processing time
- 10 hours back every month to work on strategic initiatives
- 99% payment accuracy
