Xactly yesterday launched Xactly Insights, which will allow users to benchmark their incentive compensation programs, including spending and crediting, against peer companies in similiar industries.
With Xactly Insights, users can create intelligent compensation initiatives based on actual sales compensation and best practices data. The solution also provides the tools to implement, track, and analyze plans and performance, as well as calculate sales compensation payments.
"Businesses are increasingly recognizing the critical relationship between a strategically motivated sales team and the company's own success, especially in an environment where the pace of disruption continues to accelerate," said Christopher Cabrera, founder, president, and CEO of Xactly, in a statement. "While incentive compensation plays a crucial role in this equation, companies have had few avenues to inform, measure, and benchmark their spend and performance and have had to generally rely on self-reported survey data. This first-ever empirical data set gives our customers powerful insights that they can use to drive growth and greater performance."
Xactly Insights enables companies to gain a better understanding of how they rate against the compensation best practices of comparative companies, allowing them to strategically design world-class compensation programs. With this intelligence, companies can not only reduce costly errors and over spending, but also understand how to adjust incentive compensation to inspire a whole new level of engagement and productivity. With their individual Xactly Insights scorecard, companies can address critical compensation questions, such as the following:
- How does my compensation spend stack up against other companies my size?
- Are my quotas aligned with my industry peers?
- How does my team structure compare to my peers?
Xactly Insights is based on years of actual sales compensation data that has been anonymized and aggregated within Xactly's enterprise cloud compensation platform. The Xactly platform calculates more than a billion transactions each month and customers have paid out more than $10 billion in incentive compensation payments in just the last two years. With terabytes of data, companies can self-select a benchmark based on unique characteristics, such as industry and company size.