The Benefits of Inspiring Your Comp Team
On Tuesday, July 25th, Jessica Owen, Director of Sales Incentive Compensation at Cox Automotive will discuss how her team transformed compensation at Cox Automotive. I sat down with Jessica in advance of the webinar to hear how she and her manager, Justin Ritchie began the process of transforming compensation at Cox Automotive. The starting point of the conversation was people.
“People are our most valuable resource. We recognized that, if we wanted to inspire our sales organization we had to first inspire the team that supports them – the compensation team,” Justin Ritchie, Senior Director of Sales Compensation explained to me.
The mission of Cox Automotive is to change the way the world buys, sells, and owns vehicles. For that to be realized, Justin sought out Xactly’s expertise to begin their sales transformation. Working closely with Xactly Strategic Services, Cox Automotive was able to automate its entire compensation process, including previously painful data integration between core systems.
Jessica will share how at the start, the compensation team was inundated with multiple divisions and compensation structures, and that they were spending the bulk of their time manually integrating data and calculating compensation for their growing sales team. She shared that her team worked long hours, well into the night to calculate sales commissions.
Cox Automotive has radically changed since implementing Xactly solutions with:
- Reduced variance from 10% to 0.2%
- 30 percent time savings
- $100k revenue saved
- 2M transactions completed in 3 hours
- Accuracy rates up to 99.9 percent on 1M transactions monthly
- On-time, accurate payments
- Clean, integrated data across systems
Learn how the team worked with Xactly Connect™ to pull their multitude of source systems together – saving the team around 172 hours per month. Jessica will talk about how using Xactly Analytics™ gave the team the ability to analyze data to make more strategic decisions — ultimately adding value to their business.
Aside from their incentive programs being simplified and fully integrated, their sales organization is more engaged than ever. Sales reps have a crystal-clear view into their quota attainment. By extent, they have peace of mind, knowing that their payments will be made on time, accurately.
Join us next week to find out how you can achieve success by motivating your comp team to be strategic thinkers that can impact and accelerate revenue generation. Register for the webinar here. There will be an extensive question and answer session at the end of the webinar – so don’t drop off too early!