CompCloud 2017 Preview: Geeking Out About Comp
While CompCloud 2017 will offer a wealth of knowledge on how Xactly can help up your compensation game, the most exciting aspect of the event may be the opportunity to learn from your peers. The event hosts industry pros like yourself, so you know the event will be full of opportunities to share tips and tricks.
For this year’s CompCloud, we sat down with some of our customers for a super secret project that will be unveiled at the event (you’ll have to attend to see it in full!). During the interviews, these comp veterans shared the pains of not automating, revealed their childhood dreams to become race car drivers, and talked shop about everything from spreadsheets to their relationship with sales reps. In short, they spoke with the same energy and expertise that makes CompCloud the best place in the world to geek out about comp.
So in the spirit of that passion for compensation, we’ve assembled talking points from the chat to give you a sneak peek of the conversations that you can look forward to having at the event.
“I’ve Been Spreadsheet-Free for Months”
No topic quite stirred up the emotions like spreadsheets. We witnessed frustration and fear when discussing manually inputting commission data into cells. And we also saw customers break into huge smiles when describing the switch to a spreadsheet-free workflow. Not surprisingly, these experts were adamant that after automating the comp process there is no going back. Manual calculation and audits are just too stressful.
“I’m Friends with Sales Now”
The best relationships are built on trust and there’s no better way to test that trust than to involve money. Comp admins have to manage payouts and the emotions of the sales team, so using tools to guarantee reps get paid on time ensures everyone stays happy. It’s no wonder that customers reported they’ve built a great rapport with sales based on consistency and reliability. One comp admin went as far as describing a time when a rep called him a “lifesaver.” Another customer was declared a “hero.” Not bad praise for effectively managing commissions!
“I Inspire the Bottom Line”
Ask any CFO how they feel about incentives and you’ll likely be answered with, “it’s the cost of doing business.” Notably, our customers didn’t see comp as a cost center. Instead, the admins suggested that comp is actually an investment. They noticed reps working to surpass their goals after being given clear visibility into objectives and progress. This seemingly hidden potential for ROI in comp management puts admins in a unique position to not simply manage commissions but actually drive the bottom line.
“I’ve Figured Out How to Stress Less”
Does the possibility of a missed decimal or mistype make you worry? For your fellow CompCloud attendees, the answer is a horrified yes. This is a natural response when even a simple typing mistake can lead to unnecessary company costs in the form of off-site payroll. Then there’s the fact that a sales rep’s well-being could be on the line, leading to personal issues being loudly communicated—a dramatic situation no one wants to be in.
The truth is that while you can’t make the stress of the job go away, you can make the work less stressful. To relieve stress, our customers advised using compliant automation to cut down the time spent on processes and eliminate the cumbersome back and forth emails. Optimizing comp in this way drastically alleviated the pressure that commissions professionals typically experience.
Geeking out on compensation yet? For those already planning to attend CompCloud 2017, get ready to talk all things comps on May 16th–18th!
If you haven’t grabbed your ticket for CC17, there’s still time. Register now and join us for THE incentive compensation industry event of the year.