Incentive-compensation automation company Xactly has launched a cloud-based platform, Xactly Objectives, marking the move of the company into a wider variety of enterprise incentive use cases.
"Xactly has been helping organizations set and pay sales commissions, and we're continuing our momentum to take on a new challenge," Chris Cabrera, president and CEO of Xactly, tells CRM. Outside of the sales role and meeting sales quotas, performance is measured in different ways by different departments, such as customer satisfaction and ensuring success in employee training.
As companies look to optimize employee performance through incentives and gamification techniques across the enterprise, Xactly is extending the capabilities of compensation outside of a pure sales play. The introduction of Xactly Objectives allows companies to set, track, and pay variable compensation for an array of enterprise needs.
Companies are using incentives and variable pay for a plethora of reasons, Cabrera says. For example, marketers may be tasked with meeting new benchmarks to convert social media followers into loyal fans and advocates, or a human capital management department or human resources may be incented for onboarding more qualified employees.
Xactly Objectives is designed for companies to be able to pay "everyone from the receptionist to the CEO and everyone in between on any kind of subjective [task] that they need to do," Cabrera adds. Bonus and compensation payouts in the enterprise are still largely manual and often fail to come through until the middle of a quarter. Companies are climbing a slope to catch up, which can create friction between managers and employees, he says.
Xactly Objectives, which will be generally available this summer, offers pay-for-performance incentives for companies. Managers, employees, and executives all have access to goals and a way to track attainment of goals. Using an analytical dashboard, users can see potential problem areas and identify when additional training or collaboration could come in handy. Employees can track in real time what actions they need to take to meet a departmental or individual goal, and subsequently, what the financial incentive or reward will be associated with it.