LogicMonitor Swaps Spreadsheets for Scalability + Automation with Incent
Our former process wouldn’t allow us to be efficient and scale our business. And importantly, I wouldn't have the necessary hours in my day to focus on the other half of my role.
Xactly spoke with Derrick Shaw, Director of Business Operations at LogicMonitor, to discuss how Xactly Incent has enhanced the organization’s compensation processes. Here’s what he had to say about how Xactly Incent’s ability to grant greater visibility and transparency has helped motivate their reps.
LogicMonitor’s Business Operations team was spending valuable time on manual compensation management, shifting through spreadsheet after spreadsheet to pay each rep accurately and in real-time in order to keep them motivated. The team knew this process was not scalable or sustainable for managing payouts, and needed optimization if they wanted to ensure their reps were taken care of.
LogicMonitor needed a solution that prioritized real-time visibility and scalability so that the team could focus on strategies to improve revenue quality and deal size, versus spending the majority of their time solely on compensation management.
How Xactly Incent Helped
Automating Compensation Processes
To cut the hassle created by manual compensation processes, LogicMonitor sought a holistic solution that could automate the commission payout process and provide reps with real-time insights into their compensation progress and data.
By implementing Xactly Incent, LogicMonitor could fully automate compensation processes, freeing up its Business Operations team to spend more time working on the data and processing side of the business.
Gone are the days of reps leaning on one-time incentives or discounts, as LogicMonitor has ushered in a new era where reps feel confident and motivated chasing multi-year, uplift deals.
Reps are now empowered to check their commission at any time, anywhere, rather
than manually to calculate compensation. Incent is the single-source-of-truth that LogicMonitor needed, providing reps the visibility required to drive performance and scale, and see how the quality of deals impacts commission.
The ‘cost of doing nothing’ is a tremendous risk to any business. If the right solutions aren’t in place, sales teams become difficult to work with and disengaged, which can lead to a disastrous domino effect for every department, from marketing to finance and everything in between. LogicMonitor knew the cost of doing nothing was high, and was not a cost they wanted to risk paying.
“Comp is important to the business. If we were to fall behind to a point where we couldn’t work with sales and let them know when they are getting paid, it would be detrimental.”
To avoid this risk, LogicMonitor changed the way they motivated reps to encourage higher quality deals and transformed their business into a scalable, well-oiled machine that can meet and exceed their larger organizational goals.
Since its adoption, Xactly Incent has helped drive this transformation, providing significant time and cost savings and empowering reps to view their pipeline and commissions in real-time, allowing LogicMonitor to spend more time on impactful work that will grow the business.
Additionally, Incent's ease of integration with Salesforce has allowed LogicMonitor to calculate commissions with a one-day turnaround. With faster insights into commission and time back to focus on valuable work, LogicMonitor has seen reps re-energized and ready to chase down higher quality deals.
Benefits of implementing Xactly Incent at LogicMonitor
1. Ease of Integration:
With Xactly, LogicMonitor now provides a single source of truth for reps thanks to the ease of integration with Salesforce.
2. Time Savings:
The business operations team can then focus on the operations side of the business by reducing the time spent calculating commission.
3 .Visibility:
Incent provides reps with real-time insights and visibility into their commission payouts, leading to more strategic approaches to deals.
4. Scalability:
Leveraging Incent, LogicMonitor has been able to grow their business and create a scalable model to optimize profitability.
5. Accuracy:
LogicMonitor is able to reduce the errors made with compensation by automating their processes with Incent.
Results:
- Have grown to 100+ active sales reps that depend on Xactly Incent for real-time commission visibility and calculations.
- Increases in deal sizes and revenue quality, with Xactly supporting in this overall growth
- Error-free, quick compensation payouts. Compensation teams no longer need to communicate individual results every month to hundreds of people, or regularly and manually calculate commissions per deal at an individual level.
- More balanced revenue streams versus focusing on growth at all costs.
- Assurance and peace of mind that commissions are calculated accurately.
What’s Next for LogicMonitor and Xactly?
LogicMonitor plans to further explore Incent’s offerings, encouraging reps to leverage the mobile application to help reps access their commission anytime and anywhere.
LogicMonitor will closely monitor and analyze rep feedback to support future commission plans and structure, relying on Incent’s real-time insights to remain agile and implement change when needed with ease. With new product implementation plans on the horizon, LogicMonitor will continue to explore new and improved ways to motivate reps to chase higher quality deals and leverage Incent to further increase visibility into new pipelines and sales.
