One of the best things you can do to positively impact your company’s mission is to get your sales and finance leaders in a room together. To give a glimpse into what this can look like, we asked Xactly’s Chief Financial Officer, Elizabeth Salomon, and Chief Sales Officer, Marc Gemassmer, to sit down and talk through their shared and individual experiences with sales performance management. In the webinar, “CXO Fireside Chat: 5 Ways Data Can Elevate Sales Performance Management in 2019,” the two execs provided a behind-the-scenes look at how they’ve led Xactly to success.
A CFO’s Prerogative
For Elizabeth, strong sales performance management enables her to develop Xactly’s financial strategy to hit top-line goals. She is responsible for overseeing financial processes, ensuring regulatory compliance, preparing monthly forecasts and annual budgets, and managing audit engagements—to name just a few. Elizabeth needs to be able to trust her numbers and deliver accurate compensation information to direct the company’s overall financial forecasting goals.
A CSO’s Perspective
Marc Gemassmer, on the other hand, uses sales performance management tools to hit Xactly’s bottom-line numbers. He is responsible for incenting his sales team to model behaviors that align with the company’s executive goals. Marc also ensures that sales territories are fair and effective, and he keeps a close eye on sales tenure so that his team is functioning at their appropriate levels.
Two Departments, One Solution
As is evident in Marc and Elizabeth’s case, sales and finance departments often have different key priorities. While many of their goals may differ, they can both achieve success by focusing on one important tool: data. Specifically, accurate and relevant data. Data allows finance leaders to design compensation plans and cut checks confidently. Data helps sales leaders motivate reps to hit their quotas. In Marc’s words, sales planning is no longer a matter of “gut instinct or tribal knowledge,” instead, sales planning is developed, executed, and optimized with the power of data.
By using the Xactly sales performance management (SPM) suite themselves, Elizabeth and Marc can benchmark compensation against industry peers, create comp plans that motivate sales reps, and use empirical data to direct and achieve financial goals. Data from the integrated Xactly solution platform empowers them to lead their respective teams to success, year after year.
To hear the five specific lessons learned that these Xactly execs will be using to drive sales performance management in 2019—as well as tips on collaborative planning and the power of transparency—listen to the recording of the on-demand webinar. Marc and Elizabeth also answered questions regarding how to use data to make strategic decisions, how they've seen comp plans change behavior, and why it’s important that sales planning is an ongoing process. Listen and learn here!