How Prominent Cybersecurity Company Prepped for IPO With Xactly Incent

The Challenge:

Since 2020, this leading cybersecurity company has been on an exciting growth trajectory, expanding globally to nine regions, and nearly doubling its Sales team. This accelerated growth provided the opportunity for an Initial Public Offering, or going  “Public” — an exciting next step for the business, but one that forced the team to accelerate deadlines, mitigate the risk of unforeseen costs, and manage data as efficiently as possible.

The Solution:

Incentive compensation is often a top-2 largest cost to any business, which means if you’re a company wanting your financials to look as ideal as possible to public markets, you’ve got to get it right. Enter the implementation of Xactly Incent, which streamlined the company’s ICM processes, reducing their close process time by 40%, and allowing their resident ICM expert to successfully lead their team in transitioning to a different compensation model, requiring the integration of new rules and rate tables.

Stats:

40% reduction in close time

This leading cybersecurity firm specializes in mitigating phishing attempts and overall security awareness training, helping businesses manage risks associated with ongoing security risks. We sat down with their ICM expert to walk us through the details on how Xactly Incent has helped streamline their day-to-day workflow and supported the organization’s hypergrowth over the past few years.

Challenges With Growth and Global Presence

Over the ICM expert's tenure at the organization, they have rapidly progressed, gaining insights into sales operations and the intricate world of incentive compensation. This progression has deepened their understanding of the company's sales processes and challenges. Since then, the organization has grown rapidly across the globe, including countries in North America and Asia-pacific regions. With this growth came the opportunity to go Public — forcing the team to tighten up deadlines, streamline sales processes, and handle data more efficiently.

Xactly Incent to the Rescue

Before using Incent, the team utilized a combination of different ICM solutions and spreadsheets. Quickly realizing that this combination of tools did not offer solutions that grew with them (too many error-prone manual processes), they turned to Xactly Incent to provide scalable and comprehensive ICM. Their ICM expert quickly realized the value the solution offered in simplifying their ICM processes and driving better sales performance. Leveraging Incent's tailor-made features for Compensation Admins, they successfully automated manual tasks, developed tailored incentive plans, and generated comprehensive dashboards and reports for the Executive and Sales teams.

One particular feature that resonated with the analyst was Incent's newly designed UI (User Interface) pages, particularly the refresh feature and download templates. The availability of download templates that perfectly matched the upload templates has significantly simplified administrative tasks and increased efficiency.

Benefits of Xactly Solutions

The implementation of Xactly solutions brought about a range of benefits for the organization, that they continue to realize today. By automating incentive calculations, the team has taken their close process from 5 full business days down to just three — a 40% reduction in time. By providing real-time insights and streamlining the incentive approval process, Incent empowers the organization to drive performance and increase sales productivity. This transformation led to improved data accuracy, enhanced Sales team motivation, and increased operational efficiency —becoming more agile in decision-making processes.

When asked what their biggest achievement has been with the platform, the ICM expert shared that the team made significant operational changes earlier this year, transitioning from one foundational incentive metric to another which required a complete overhaul of their plans — including formulas, Credit and Commission rules. They and their team were able to successfully integrate their desired third-party data sources with the system, including moving from using the highest rate table for most roles to incorporating Xactly rate tables and pay curves for a unified view. They also accessed the resources in the Xactly Community and received valuable assistance from the Xactly Services team, who offered multiple implementation options and helped them choose the most suitable one for their needs.

This testimonial underscores the transformative impact Xactly can have on organizations aiming to drive sales performance and motivate their teams effectively. By leveraging Incent's advanced capabilities, organizations can streamline their incentive compensation processes, efficiently drive performance, and achieve their sales goals with precision and efficiency.

By partnering with Xactly, organizations can supercharge their sales performance, motivate their teams, and drive success in an increasingly challenging sales environment. Ready to get started? Contact us to learn more, or take a self-tour of Xactly Incent.