Automating Incentive Compensation Management to Support Rapid Growth
October 30, 2019
SalesLoft, provider of the #1 sales engagement platform, was growing, and it was growing fast. In just 12 months, the sales team doubled in size, spurred by ongoing product improvements and market growth that were driving customer demand.
The accelerated rate of growth, in both revenue and sales headcount, created some challenges around sales compensation, which was manually calculated on a spreadsheet, managed by one individual on the finance team. This was not a sustainable strategy because it could not be scaled up as SalesLoft continued to expand its sales team, especially as management wanted the ability to handle more complex calculations as new sales roles were added.
The individual managing the sales compensation process posed a potential risk as a single point of failure, and due to the manual nature of the process, it took a lot of time for that person to handle all commission calculations, exceptions, and adjustments for the entire sales organization. On the flipside, the sales team felt the repercussions of the manual process as they, at times, faced delays with commission payments and adjustments. They also were prone to shadow accounting as a way of ensuring the accuracy of their payments, which took time away from their primary role of selling. Additionally, the inability to quickly and easily run reports was problematic for the sales organization and inhibited them from making data-driven decisions.
The manual spreadsheet environment lacked efficiency, accuracy, visibility, and scalability. Looking toward the future, SalesLoft knew things had to change to support its growth.
SalesLoft chose Xactly as its new incentive compensation management (ICM) and data integration platform as several people from the sales team had previous experience with Xactly and felt confident in the platform meeting their needs. After vetting its options, SalesLoft then selected OpenSymmetry as its implementation partner. OpenSymmetry went to work, configuring all data feeds for automated loading into Xactly Incent™, the ICM platform, using the Xactly Connect™ data integration interface. This included critical bookings and opportunities data from Salesforce, SalesLoft’s CRM tool. Additionally, OpenSymmetry worked with SalesLoft to identify and customize out-of-the-box reports using standard functionality available within Xactly Incent. This would give end users the quick and easy access to reports that they needed as well as access to a real-time sales dashboard.
During the first post-implementation payroll cycle, SalesLoft ran their old manual process concurrently with the new automated process. During the second post-implementation payroll cycle, it ran the process independently on the new platform. Both payroll cycles were smooth and without error. SalesLoft continues to enjoy the efficiency and accuracy made possible by automation of their incentive compensation process. And they are now set up to scale as their organization continues to grow.
Additionally, sales reps have been taking notice of the benefits of the new platform. Jason Moore, VP of Global Sales Operations at SalesLoft, shares: “Salespeople don’t often say much when things are going right, but I got stopped in the hallway the other day by one of the sales leaders, and he said, ‘Thank you for putting in Xactly, it’s really helping out a lot.’”
As SalesLoft’s growth continues, it will add new people and teams to the sales organization. With Xactly Incent and Xactly Connect in place, they have the ability to efficiently write new sales compensation plans for them and easily add them to the existing incentive compensation management system.
To read more, download the Salesloft case study.