Building a successful sales compensation plan has many steps, including compiling a team to piece together metrics and goals, building and modeling plans, and finally, implementing each new plan. Alongside their teams, sales operations and compensation professionals must develop a compensation plan and process that motivates the right sales behaviors to achieve company goals, all while driving growth.
The right mixture of compensation requirements is a balancing act of incentives and top-line growth, but luckily, it doesn’t have to be a stressful or time-consuming. As part of our Friends of Xactly (FOX) Community, we’ve spoken with sales compensation leaders to create a blog series about their journeys in sales compensation, best practices, and the Xactly advantage.
Meet The Expert - Vivian Yeh
Who: Vivian Yeh
Position: Sales Operation Analyst
Company: Hitachi Vantara (Pentaho)
Time in sales compensation: ~ 4 years
Bio: Vivian Yeh worked in financial institutions and banking for 14 years before switching to Data Analytics company.”
Tell us about your career journey in sales compensation. (How did you get your start? How did you end up where you are today?, etc.)
“I started my career in the banking industry for 15 yrs, where I worked as a teller and [eventually] worked up to a branch manager for two branches. I then decided to switch over to work in compensation for a startup company, Pentaho,which later got acquire by Hitachi (now Hitachi Vantara, Pentaho).”
Hitachi Vantara, Pentaho helps customers merge “operational and informational experience to offer a data partner with unprecedented range and depth in data management.”
What are the biggest challenges you face in your role today?
“[One of the biggest challenges I face is] accuracy in quota planning, which leads to adjustments in later years and the need to recreate or adjust plans in Xactly, writing new rules and criteria, and then needing to reset and recalc for true ups.”
How has technology played a role in your evolution as a sales compensation professional?
“[Xactly] has made [my job] much easier.”
Describe your company's sales compensation planning process, your role in it, and how Xactly has changed this process (What is your favorite Xactly tip/trick that you’ve learned?).
“I help determine how the quotas and commission are set and calculated. Then once plans are finalized, I will set it up in Xactly Incent for commission calculation. Before, [the compensation plan] was set up in Excel to calculate commissions.”
What piece(s) of advice/lessons have you learned on your journey that you would share with your peers or younger self?
“”Don't be afraid to challenge yourself and embark on new journeys. That's how you can grow.”
How do you envision the future of sales compensation?
“[I expect to see] more complex plans to align with sales needs.”
Discover the Xactly Advantage for Your Company
Xactly provides an integrated sales planning process, from territory planning to compensation planning and overall sales strategy. To do this, we partner with our customers and arm them with the data tools they need to design, model, and implement incentive compensation plans.
Your company’s compensation and incentive plans are vital to company growth and success, which is why you should never have to struggle with error-prone spreadsheets or manual commission calculations. Find the right Xactly solution for your business, industry, or role. Schedule your personalized demo today!