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WageWorks Implements Xactly Incent to Drive Strategic Compensation Management Process
Jul 18, 2007 (06:07 AM EDT)
SAN JOSE, Calif., July 18 /PRNewswire/ -- Xactly Corporation, ( http://www.xactlycorp.com ), the market leader in on-demand sales performance management, today announced that WageWorks, Inc., the leading provider of consumer-driven tax-advantaged spending accounts for health and dependent care and commuting, has successfully implemented Xactly Incent(TM) to automate sales compensation management for its direct sales force. Replacing a manual-based system heavily reliant on spreadsheets, Xactly Incent is enabling fast-growing WageWorks to more efficiently and accurately manage its complex compensation plans and drive more effective and profitable sales behaviors.
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"Xactly Incent gives us the sales data visibility, payout accuracy and compensation plan modeling capabilities we lacked in the past, and has enabled us to establish a fast, repeatable and scalable compensation management process," said Morgan Norman, WageWorks vice president of sales. "We selected Xactly for its deep domain expertise, flexible on-demand model and integration with salesforce.com's CRM application. What we gained is a partnership that helps us use compensation more innovatively and strategically to support our rapid growth as a business."
Selling to the Fortune 500 as well as to small and midsized businesses, WageWorks manages a complex sales compensation landscape marked by multiple payment types, numerous sales roles and plans, seasonality and overlays. As the company recently expanded from 250 to over 750 employees serving more than 1,500 customers, the need arose for an automated and vastly more scalable approach that would eliminate inaccuracies, drive more innovative compensation plans, and complement the company's growing and changing revenue models. After a competitive evaluation, WageWorks went "live" with Xactly Incent in late 2006 and is using the Web-based solution to provide its growing sales force with real-time visibility into compensation structures and commissions -- thus bringing sales representatives into closer alignment with corporate objectives, minimizing payment disputes and shadow accounting by sales representatives, and motivating the field to sell more profitably.
With Xactly Incent, WageWorks' sales representatives and managers now see at a glance where they stand versus plan at any point, how payouts are calculated, and where best to focus their sales efforts for maximum return. Xactly's rules-based engine ensures that payment definitions are accurately implemented across its multifaceted compensation environment. WageWorks' compensation analysts, meanwhile, are quickly introducing new plan components, doing in a matter of hours what previously took days and weeks to accomplish with spreadsheets. Using the Xactly Modeling(TM) module, analysts and managers are also now accurately determining the impact of plan and organizational changes before implementing them, thus reducing risk and gaining new flexibility in addressing emerging opportunities.
Although privately held, WageWorks is also using Xactly Incent to help ensure Sarbanes-Oxley compliance, having gained an automated compensation management process that provides full and accurate auditing of compensation definitions and payouts. Completing the picture, WageWorks has integrated its Xactly Incent and existing salesforce.com CRM implementations for complete visibility into sales-related information, including the ability to perform "what-if" analyses against opportunities identified in Salesforce.
"Rapidly expanding companies and those with intricate and fast-changing compensation environments like WageWorks are well served by the scalability, efficiencies and accuracy inherent in Xactly's family of products," said Karen Steele, Xactly vice president of marketing. "As companies grow, manual compensation management processes literally run out of steam, and can't keep up with visibility requirements and the need to leverage sales compensation as a strategic tool. As WageWorks and many other companies have discovered, Xactly Incent combines all the elements of sales compensation management -- from robust calculations and payout determination to reporting and modeling to auditing -- for driving optimum sales performance."
Founded in 2000, WageWorks provides tax-advantaged health, wellness, child care, commuting, and education benefits. More than 100 of America's Fortune 500 employers and millions of their benefits-eligible employees use WageWorks' programs. As the cost of living continues to rise and more health care costs are pushed to employees, WageWorks seeks to eliminate barriers to benefit participation so working families can save money and improve their overall well-being. WageWorks provides easy-to-use benefits programs that help save time, and educational tools and resources to increase employees' knowledge and understanding of their family's health care and financial needs. WageWorks is headquartered in San Mateo, CA., with offices in New York, Chicago, Washington, D.C., Phoenix, Ariz., Mequon, WI., and Troy, MI. For more information, please visit http://www.wageworks.com .
About Xactly Corporation
Xactly Corporation is the market leader in on-demand sales performance management. The company's flagship product, Xactly Incent, enables sales and finance executives to design, implement, manage, audit and optimize sales compensation management programs easily and affordably. Xactly's solutions automate the process of aggregating data from disparate systems into a secure, hosted repository and enable companies to leverage this business data which is the lifeblood of sales performance management. Xactly helps companies improve operational performance, optimize sales effectiveness, proactively manage risk and compliance and maximize profits. The Xactly family of products is used by sales and finance executives, compensation analysts, sales operations and sales professionals across a variety of industries, ranging from SMBs to large enterprises. For more information, visit http://www.xactlycorp.com or call 1-866-GO-XACTLY.
Media Contacts: Dan Rampe Xactly Corporation Tel: 408-200-0610 Email: firstname.lastname@example.org Kristin Reeves Blanc & Otus Public Relations Tel: 415-856-5145 Email:
(C) 2007 Xactly Corporation. All rights reserved. Xactly, "Incent right. Sell more.," Xactly Incent, and Xactly Modeling are trademarks or registered trademarks of Xactly Corporation. All other trademarks are the property of their respective owners.
CONTACT: Dan Rampe of Xactly Corporation, +1-408-200-0610, email@example.com; or Kristin Reeves of Blanc & Otus Public Relations,+1-415-856-5145, , for Xactly Corporation
Web site: http://www.xactlycorp.com/ http://www.wageworks.com/