identify opportunities to improve your utilization of xactly › ... · 2017-11-13 · lead to 100%...

MariaOczko-CanantTeamLead,StrategicServices,

Xactly

IdentifyOpportunitiestoImproveyourUtilizationofXactly

ICMBESTPRACTICES&SELFASSESSMENT

©2016Xactly Corporation.Allrightsreserved.Proprietary&Confidential. 2

AGENDA

• WhatisanICMAssessment?

• WhatdrivestheneedforanICMassessment?

• ICMassessmentapproach(5’Cs)

• Bestpracticesrelatedtothe5C’s

• Commonassessmentresultsandhowtoresolvegapsidentified

• Customerexperiences

–Afterthepresentation,eachattendeewillreceiveacopyofthematerialspresentedaswellasaself

assessmenttemplatefortheirownevaluationoftheirICMprogram

ICMAssessmentOverview


WHAT IS AN ICMASSESSMENT

HolisticreviewofyourICMprogramleveraging;expertise,benchmarks &bestpractices toidentifyopportunitiestoobtaingreaterROIonyoursalescompspend.


HOW OFTEN DO YOU ASSESS?

3outof10

ON AVERAGE,ONLY 3OUT OF 10COMPANIES DO REGULAR ASSESSMENTS ONTHEIR PROCESSES AND TECHNOLOGY UTILIZATION.MORE OFTEN,ASSESSMENTSARE DONE WHEN A SITUATION OR “DRIVER”FOR AN ASSESSMENT PRESENTS

ITSELF.


DRIVERS FOR AN ASSESSMENT…

• Acquisition/NewBusinessIntegration

• Increasingconfigurationcomplexity

• Unclearunderstandingoffunctionalityavailable

• Needtoeliminatemanualprocesses

• Needtoimproveenduserutilization/adoption

• ImprovestrategicICreporting (Analytics)


BENEFITS FROM AN ASSESSMENT…

• Increased process efficiencies (data, time to pay, accuracy, etc.)

• Improved end user adoption of toolset

• Greater use of available functionality

• Automation of previously manual processes

• Simplification of change management and configuration

• Improved strategic IC reporting (use of Analytics)

• Future state definition and roadmap creation for optimized program and processes

ICMAssessmentFramework(5C’s)&BestPractices


INCENTIVE COMPENSATION LIFECYCLE (WHERE WE FOCUS…)

StrategicPlanDesign&Forecasting

TacticalAdministration&Reporting

[5C’s]

Deployment/Communication

Program/PerformanceAnalysis


ICMASSESSMENT METRICS – 5’CSCollection – Reviewofinputsandpeople/revenuedataintegration,preparation,andoutputs

Credit – EvaluationofCreditingmethodologyfordirectandindirectpayees

Calculation – Evaluationoftheaccuracyandefficiencyrelatedtorules,formulas,andothercalculationvariables

Compensation – Reviewofverificationofpayments,HRpayrollprocess,approvalworkflows

Communication - EvaluationofEnduserexperienceandreportingofAnalytics/PerformanceMeasurement


Metric– CollectionofDataData isthebloodlineofanICMprogram.Gooddatain=gooddataout.Itiscriticalfortheinputstobeaccurateandtimelytoensureastrongfoundationalbaseforthesuccessofthecompensationadministrationprocess.

Bestpracticesforcollectionofdatametricinclude:• Littletonomanualprocesses(datainputsandoutputsareautomated(includingpeopledata)• Cleardocumentationandownershipofdataarchitectureworkflows,inputs,andoutputs• Definedprocesstoensuredataqualityandaccuracyeachperiod• Atminimum,monthlyprocessingoftransactionaldata.Peopledata,weekly.


Metric– CreditingMethodologyCrediting alignstowhoisnotonlyaccountablebutwhoshouldgetincentedonanopportunityandhow.Withoutdefinedandstandardizedcreditingmethodologies,piecesofthepuzzlecannevercometogetherquiterightaseveryonewilltrytofitintoeachplacethinkingitistheirs.Whencreditingisnotdefined,creditingeffortscanbecomeextremelysubjective,creatingmanualeffortintheadministrationprocess.

Bestpracticesforthecreditingmetricinclude:• Leveragetransactionaldatatoautomatecreditingrules,utilizingfunctionalitysuchasCreditAssignmentandNamedRelationships.• Sourcedatawillhaveatleastonedirectcredit(ownerofopportunity)orattributeidentifiedtoallowforeaseofcreditingfor

overlayandhierarchicalpayees.• Creditingcategoriesarewelldefinedandcanbederivedutilizingopportunityvariablesinordertocalculatewitheasebasedon

plancomponentrequirements.• Definedprocessisinplacetoensureaccuratecreditingeachperiod(useofAnalyticsreportingtohelpsupportQCprocessis

advised)


Metric– CalculationMethodologyCalculation ActivelymanagingandoptimizingyourICMconfigurationwillallowforhighlyefficientadministrationandchangemanagement.Simplificationandconsolidationofrules,formulas,andkeepingplancomplexitieslimitedwillleadto100%calculationaccuracyeverytime.Havingadefined,documentedtestingstrategyforcalculationswillallowforeaseofyearoveryearchangemanagementandtroubleshooting.

Bestpracticesforcalculationmethodologyinclude:• Configurationandautomationofallplancomponentcalculations.Calculationsoutsideofthesystemshouldbeextremelylimited,

ifnoteliminated,throughplandesignstandardization,dataavailability,and/oradditionalconfiguration.• Utilizationofintuitive,standardizednamingconventionsandTagsfunctionalitytoconsolidateandcleanupconfiguration

environmentforeasynavigationandchangemanagementyearoveryear.• DocumentedPlanDesigncomponents,identifyingcurrentplan,rulesandtheirdependenciesensuressuccesswithcrosstraining

aswellastroubleshooting.• Definedtestingstrategythatverifiesallconfigurationcomponents,whatifscenarios,andresourcesresponsible.


Metric– CompensationProcessCompensation processesallowtheresultsandpaymentstobeapproved,distributed,andmadevisibletovariousstakeholders(payroll,payees,leadership,etc.)Settingtimelines,ownership,andadefinedadministrationcalendareachperiodwillhelpalleviateanyconcernsregardingpayrolldeadlines.Theuseofavailablereportingfunctionalityandworkflowsoptimizestheapprovalprocessandadministrationtime&accuracy.

Bestpracticesforcompensationprocessesinclude:• Resultsandpaymentinformationisavailablewithin14daysofaperiodend.• PayrollandaccrualfilesareconsolidatedandautomatedviaIncentandAnalyticsreporting.• Incentivestatementreportsareclearandconcise,allowingpayeestoeasilyauditandreconcileresults.• Definedauditandapprovalprocessesandestablishedandworkflowsareutilizedtofinalizereviewandapprovalseachperiod.


Metric– CommunicationofResultsCommunication ofresultsencompassestwomainareas:enduserexperienceandstrategicbusinessreporting.Forsalesenduserexperienceandadoptionoftechnologytobehigh,payeesmustfeeltheyhavetherightinformationpresentedinawaythatiseasytoconsumeandverifyforaccuracy.Repsshouldhaveonestopshopvisibilitywhenitcomestoplanstructure,documentation,andresults.Whenitcomestostrategicbusinessreporting,yourICMtoolsetshouldbethesourcedatacombiningyourtransactionalandexpensedataforyourplaneffectivenessandperformanceanalysis.

BestpracticesforCommunicationandReportinginclude:Enduserexperience–

• Useofdashboards,rankings,andworkflowstoincreasevisibilityintoresultsandensureplancommunicationisavailable.• ReportingandautomatedAnalyticsavailableinatimelymanner(within14daysofperiodend)thatshowresultsandarevisually

engagingallowingforeaseofconsumptionandQC.

Strategicreporting-• Yourendusersshouldhaveengagingmetricsandreportsthatwillprovidetherightdatatomotivatethem.• Setofautomateddashboardsandreportsthatsupporteach ofthefollowinggroups:leadership,salesops,finance,HR,andsales.• Planeffectivenessandperformancemonitoringreportsaretobereviewedeachquarterandhelpdriveintuitivechangesasneededtotheplanmethodologyanddesign.


COMMON SCORECARD RESULTS – PRE ASSESSMENT AND ROAD MAP DEVELOPMENT

WHAT CAN WE DO TO IMPROVE OURASSESSMENT SCORECARD?


1)DETERMINE TOP INITIATIVES

• Identifyfuturestategoalsandcost-benefitanalysistohelpprioritizeinitiatives• Focusonidentifyingatleast1initiativeineachofthefollowingareas:

1. Short term, quick win, high benefit initiatives (< 3 months to implement)2. Long term, high impact initiatives (6-12 months to implement)3. Overall business process improvements (can be long or short term)


TOP INITIATIVES

ShortTerm,HighImpact

1.Configurationupdatespertechnicalreview2.DELTAchangestoimproveprocessingtimes

LongTerm,HighImpact

1.Consolidateandcleanupruleslibraryfornewyear2.CreaterobustAnalyticsreportsforsalesleadership

ProcessImprovement

1.IntegrateXactlywithSFDC2.WorkwithHRtoautomatepeopleinformation3.Identifyprojectnumberstoaddtosourcedatatoeaseadministrationandreportingefforts


2)CREATE DEFINED ACTION PLAN

- Createcomprehensiveactionplanforeachtopinitiative

- Assignownership,timeline,andexpectedstepstocompleteinitiative

- Identifyexternalvs.internalresourcesneeded

- Identifywhatsuccesslooksforeachinitiativetoallowforre-assessment


SAMPLE “ACTION PLAN FOR TOP INITIATIVES”Recommendation Description Timeline Resource(s)

DataConsolidation&CreditAssignment

Technical:• XactlytobeginSOW2January2016tocompleteDELTAandCreditAssignmentconfiguration

Administrative:• Manualcreditingandcreditingexceptionsoutsideofstandardmethodologyshouldbeevaluated

andeffortshouldbedeterminedtostreamlinecreditinglogicacrossLOBs/regions• DataprovidedforDELTAprocessestobereviewedforqualityandintegrity.Additionaldata

scrubbingmaybeneededasconfigurationisinprogress

Q12016– Q22016 Client/XPS

AutomationofHRProcesses

Technical:• Client tosetupappropriatetemplatesworkflowsforroutingofplandocuments(canbedone

beforeFY16informationisupdated).Exampletemplateisavailableforreference,withoptionsforthreshold/excellencelevelvisibility

• ClienttoworkwithServicestoupdateconfigurationfortransferpayees• Xactlyto completeDELTAprocessconfigurationwhennewHRISsystemcomesonline(projected

Q22016)• DELTAupdateswillallowforautomationofpeoplerecords,terminations,andtransfers

Administrative:• UtilizeeDocstorouteplandocumentsthroughhierarchy.Easytotrack,modify,andapprove

documentswithinthetool(bestpractice).Canalsoroutetomanagersandhavemanualdistributionifneeded.

• NewHRISfieldswillneedtobeidentifiedandmappedtoensureaccuratepeopleinformationisbeingprocessed

Q12016-Q32016 Client/XPS


COMMON SCORECARD RESULTS – 6MONTHS POST ASSESSMENT*

*RESULTS BASED ON CLIENTS WHO HAVE ENGAGED WITH XACTLY STRATEGIC SERVICES AND COMPLETED AN ICMASSESSMENT PROJECT


KEY BENEFITS FROM PAST ASSESSMENT CLIENTS*

*RESULTS BASED ON CLIENTS WHO HAVE ENGAGED WITH XACTLY STRATEGIC SERVICES AND COMPLETED AN ICMASSESSMENT PROJECT

AreaofFocus(5C’s) InitialAssessmentScore

PostImprovementInitiativeScore

Most significantimprovementduetoassessment

CollectionofData Simplifieddatamethodologytoallowforfasterprocessingandeasierverificationofresults.Dataprocessingwentfrom5daystolessthan2.

CreditingofRevenue SimplifiedcreditingmethodologyutilizingLookup TablesandCreditAssignment.PreviousCreditinglogicwasmanualandtook10+hourseachmonthtoupdatebasedonbusinessneeds.Itisnowa30minefforteachperiod.

CalculationMethodology Changemanagementefficiencyincreasedduetosimplification,consolidationandcleanup(tagging)ofRuleslibrary,allowingforfewerrulestobemanagedandupdatedyearoveryear.

CompensationProcess Reducedefforttoconsolidateanddistributeover40payrollfileseachperiod byutilizingPayrollTemplatesandAnalyticsreporting.Currentpayrolleffortsincludeonly4consolidated,comprehensivereports.

CommunicationofResults(toendusers,leadership,salesops,etc..)

Adoptionrateoftoolsetincreasedimmenselyonceworkflows,PODs,andenduserperformancereportingwereutilizedtobestpractice.LeadershipalsoleveragedAnalyticstosupportplaneffectivenessanalysistohelpimprovenewyearplansandsimplifyadministration.


RECAP OF BEST PRACTICE ASSESSMENT APPROACH

1. Determinedriverforassessment

2. Utilizethe5’Cstoevaluatecurrentprogram/processes

3. Identifytopinitiativesbasedonfuturestateexpectationsofallstakeholders

4. Developactionplan/roadmapwithdefinedsteps,resources,andtimelinetocompleteinitiatives

5. Evaluateimpactofchange3-6monthspostassessment

6. Repeatassessmentatonceayearormore,ifneeded.Ifanyeventsoccurthataredriversforanassessment(refertoSlide5),it’stimetore-assess

25

Questions?


QUESTIONS OR FEEDBACK?

• LetusknowhowwecanhelpyouincreaseandoptimizeyourICMbusinessprocessesanduseofXactly.

• XactlyStrategicServiceshelpscustomerassesstheirICMprogramsandstrategicallyimprovetheiroverallICMprogramandprocessesthroughtheirICMAssessmentofferings.

• Formoreinformation,pleasecontactMariaOczko-Canant([email protected])orvisitourStrategicServiceshomepageathttps://www.xactlycorp.com/strategic-services-sales-compensation-consulting/

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