Frequently Asked Questions
Why is incentive compensation management important?
Incentive compensation management (ICM) software combines sales and employee data in one place, facilitating the easy calculation of commissions. Effective incentive compensation programs help sales reps focus more closely on their performance, while encouraging them to manage leads and close deals. When ICM software provides you with accuracy and transparency, it helps motivate sales personnel, retain key staff, and drive better sales performance, while interactive dashboards help the organization to highlight sales opportunities.
How do you choose the best ICM software?
Choosing ICM software is a multi-stage process that starts by analyzing your business needs and goals, and how you plan to incentivize sales reps.
- Prepare a list of potential vendors and ask them for proposals.
- Analyze their submissions according to the ability to calculate sales commissions and how their software integrates with platforms such as your CRM, ERP and HCM software.
- Evaluate software vendors against factors such as solution scalability, flexibility, automation, payment accuracy, and software support.
- Compare the vendor solution's operating costs against your current costs.
- Speak to their customers and check customer reviews.
Why utilize incentive compensation management software as a Sales Leader?
ICM software helps sales leaders motivate and encourage commission-based sales teams to meet and exceed sales targets. Incentive compensation software allows the organization to compensate top performers efficiently and accurately, and helps sales representatives manage and monitor individual sales targets.
Who should care about Incentive Compensation?
Every executive in a sales-driven organization should care about incentive compensation as it’s more than just a tool to encourage better performance from sales reps. Rather, the application of carefully structured ICM solutions helps:
- Compensation Administrators evaluate appropriate incentives
- Sales managers understand and manage sales performance figures
- Human Resources departments recruit and retain the best talent
- Financial managers manage compensation
What CRM integrations does Xactly Incent® support?
Xactly Incent supports most CRM solutions with its open and scalable architecture. When coupled with Xactly Connect®, admins can manage the data flow for processes touching ICM, SPM, and the revenue journey as a whole, aided by integrations with CRM solutions that include but are not limited to:
- Salesforce
- NetSuite
- Snowflake
- HubSpot
- Microsoft Dynamics
- Workday