Enterprises Predict Sales Rep Attrition with New AI Capabilities from Xactly
SAN JOSE, Calif. – April 24, 2018 – Empowering enterprises to retain top sellers and meet their revenue objectives, Xactly today announced new predictive intelligence capabilities to identify potential sales rep attrition. Applying machine-learning to Xactly’s unique collection of empirical pay and performance data, the algorithm analyzes attrition patterns in current and previous years to predict which employees will stay and those who are in danger of leaving.
The new functionality is the latest advancement built on Xactly’s artificial intelligence (AI) based sales performance management (SPM) platform, which enables customers to use real-time data to better plan, execute and optimize the entire selling process. From directly within their Xactly InsightsTM dashboard, sales leaders can now monitor the health of each sales rep and receive proactive notifications when a team member is at risk. The sales rep attrition prediction offering, available this summer, is the first of several new machine-learning infused applications that Xactly will deliver to drive a high performing sales organization.
“For enterprises with hundreds or even thousands of reps, it’s nearly impossible to monitor each rep individually to ascertain when they may be in danger of leaving or are simply underperforming,” said Vijai Shankar, senior director, product marketing, Xactly. “Even a single top rep quitting can result in millions of lost revenue, missed forecasts and unhappy customers. Xactly eliminates the guesswork and speculation, giving sales leaders the hard data they need to manage rep performance at scale. By being able to clearly identify those reps at risk, companies can potentially save top performers and identify action plans to help struggling reps reach their full potential.”
Xactly’s artificial intelligence platform is backed by more than 13 years of aggregated and anonymized sales pay and performance insights from hundreds of thousands of subscribers. No other data set of this magnitude exists in the market today.
“Organizations need to engage and retain sales professionals to prevent lost time, money and mitigate the danger of negative customer experiences,” said Mark Smith, CEO and chief research officer at Ventana Research. “Marrying its proprietary big data set with machine learning, Xactly Insights provides the predictive, actionable intelligence customers need to identify at risk professionals and take needed steps to reduce turnover.”
ARE YOUR BEST REPS ABOUT TO LEAVE?
According to a DePaul University report, the average cost of replacing a sales rep is $115,000 and it has been noted that it can take a new rep up to six months to reach their full quota potential. Currently, Xactly’s benchmarking data shows that the average tenure of a sales rep is 14 months, meaning most companies are not even gaining a single year of full productivity from their sales rep investments.
With the new sales rep attrition prediction functionality, enterprises can change that paradigm. Applying advanced machine learning to Xactly’s vast big data set, the new algorithm analyzes sales rep behaviors and attrition patterns to predict who may be in danger of leaving, looking for signals such as their historical sales performance, a sudden drop off in deals, etc.
When a potential red flag is identified, sales leaders receive a clear “warning sign” directly in their Insights dashboard. Sales leaders can then drill down into the history of a particular rep to see what further steps can be taken to avoid attrition such as, identifying new growth and coaching opportunities, simplifying plans, etc. This is a critical step in not only maintaining the health of a sales organization and meeting bottom line revenue objectives but also anticipating staffing and hiring needs and improving sales and quota planning.
For more information on this new offering, please visit: http://bit.ly/2HpGjMK
Xactly delivers a scalable, cloud-based enterprise platform for planning and incenting sales organizations, including sales quota and territory planning, incentive compensation management, and predictive analytics. Using this powerful sales performance management (SPM) portfolio, customers mitigate risk, accelerate sales performance, and increase business agility. Combined with Xactly InsightsTM the industry’s only empirical big data platform, Xactly empowers companies with real-time compensation insights and benchmarking data that maximize the bottom line. With an open, standards-based architecture, Xactly seamlessly integrates within an enterprise’s existing infrastructure, with the ability to work with any ERP, CRM, or HCM application, while meeting the highest enterprise standards in security, reliability, and privacy.
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