Case study of Implementation of Xactly Incent™ for Fastmarkets.
3 August 2022
Case study Commission ICM/SPM sales technology
Let’s have a look how does ICM/SPM implementation process looks from the backstage.
Implement an automated and CRM-integrated solution to allow Salesforce data and data integrity measures to flow automatically towards compensation.
Increase transparency and visibility for sales representatives and sales managers.
Improve visibility surrounding compensation for sales users and managers, driving more efficiency and reliance on commissions and payouts.
Prepare a sustainable, reliable, and flexible platform, to align with the long-term strategy and sales structure.
Select a system that could handle the constantly growing sales representatives’ team and their incentive pay plans.
Implementation of Xactly Incent ® in Fastmarkets
A solution that responds to customer needs for newly created sales plans and commission rules.
A platform that handles a large number of sales representatives, with a wide range of complexity of their incentive pay.
A tool that supplies a quick turnaround of one-off compensation plans.
“The biggest challenge that the consultants faced during the implementation was the very complex technical aspects of the implementation. Fastmarkets has specific compensation plans that require a cumulative view of performance including payments from the past months while constantly refreshing transaction data for the whole year, plus the logic of rollups based on regions and territories.”
– Michał Barański, SANDS Partners Consultant
Timely and accurate commissions calculation.
Clear visibility and transparency of the sales plan and sales commissions for sales representatives and sales managers.
Easier way to create long-term sales strategy and sales structure.
Swift implementation of a stable, functional system in just three months.
Who is Fastmarkets?
Fastmarkets is the most trusted cross-commodity price reporting agency (PRA) in the agriculture, forest products, metals and mining, and energy transition markets. Their price data, forecasts, and market analyses give their customers a strategic advantage in complex, volatile, often opaque markets. Their events provide immersive experiences to network, trade, and discuss the critical issues of the day.
The company is owned by Euromoney Institutional Investor PLC, which is listed on the London Stock Exchange and is a member of the FTSE 250 share index.
In recent years the Fastmarkets businesses have experienced solid growth and the number of sales representatives increased to reflect the demand. Due to this fact, legacy processes and commission plans have become too complex and costly to administer. The legacy software SIMPLY COMP™ was no longer able to calculate such complex compensation plans.
Xactly has helped thousands of companies and millions of sellers around the world beat their revenue targets. Using Xactly’s solutions, leaders look past the current quarter to create revenue streams for long-term growth. The Xactly Intelligent Revenue Platform marries artificial intelligence and 17 years of proprietary data in easy-to-use applications. Sentiment, process, and trend analysis come together to form accurate machine forecasts. Quick identification and implementation of revenue plans, quotas, and territory improvements are easy. And, rapid calculation of even the most complex compensation plans keeps sales reps motivated and on track.
This makes the Xactly Intelligent Revenue Platform the only solution that aligns seller behavior with boardroom strategy to create a resilient, predictable, and profitable business. To learn more about Xactly and the latest issues and trends in intelligent revenue, follow us on Twitter, Facebook, and visit https://www.xactlycorp.com.
Why SANDS Partners?
As Xactly trusted partner, honored with the title of the International Partner of the Year, SANDS Partners is a company that was able to implement such a complex and demanding solution successfully.
Created by Xactly’s strong network of trusted business partners, assure good cooperation, technical experience and a wide range of knowledge about the implemented domain. All those factors assure the project will be implemented successfully.