Author: Lizzy Wolff
Your organization might consider Xactly to streamline processes, enhance performance, and drive better results. If so, you may have noticed the significant price tag of the implementation. Implementing such robust systems can pose financial challenges for businesses of any size.
A question we get often is how to save money during the process. To maximize your investment and even come in under budget, we have created five cost-saving strategies for you to utilize during your Xactly implementation.
While cost-saving is possible, it's also essential to strike a balance between achieving a cost-effective implementation and ensuring the platform meets your organization's unique needs.
This article explores five strategic approaches to help you save money on your Xactly implementation without compromising quality or functionality. From careful planning and effective communication to leveraging out-of-the-box features, these strategies are designed to empower your organization to harness the full potential of Xactly while keeping costs in check.
Strategy #1: Clearly Define Objectives and Scope
Strategy #2: Thoroughly Plan the Implementation
Strategy #3: Invest in Training
Strategy #4: Leverage Out-of-the-Box Features
Strategy #5: Engage in Open Communication with Your Implementation Partner
5 Cost-Saving Strategies for Your Xactly Implementation
Implementing Xactly can be a significant investment for a company. As we delve into these cost-saving methods, you'll gain valuable insights on optimizing your investment and pave the way for a successful and cost-conscious implementation of Xactly in your sales performance management strategy.
Strategy #1: Clearly Define Objectives and Scope
Clearly outline your objectives and scope before starting the implementation. This includes understanding what specific features and functionalities you need from Xactly. By having a well-defined scope, you can avoid unnecessary customizations and additional costs arising from expanding the project scope during implementation. Here are the steps to clearly define the objectives and scope for your Xactly implementation:
1. Conduct a Needs Analysis: Identify pain points, bottlenecks, and areas for improvement. Engage key stakeholders, including sales leaders, finance teams, and system users, to gather insights into their specific requirements and expectations.
2. Define Clear Objectives: Objectives should align with your overall business goals and highlight the specific outcomes you aim to achieve with the implementation. Objectives may include improving sales efficiency, increasing accuracy in commission calculations, or enhancing sales rep motivation.
3. Prioritize Objectives: This step helps focus resources and attention on the most critical aspects of the implementation. Prioritization ensures that the essential elements are addressed despite constraints and that the project aligns with the organization's strategic priorities.
4. Engage Stakeholders: Involve key stakeholders early to gather input and ensure their buy-in. This collaborative approach helps in refining objectives and scope based on diverse perspectives.
5. Document Objectives and Scope: Create a detailed document outlining the established objectives and scope. This document should serve as a reference point throughout the implementation process.
6. Align with Budget and Timeline: Ensure that the outlined objectives and scope align with the available budget and timeline for the implementation. Consider any constraints or limitations and make adjustments as needed.
7. Seek Input from your Implementation Partner: Collaborate with your chosen implementation partner to validate your objectives and scope. They can provide valuable insights into the platform's capabilities and offer guidance on aligning your goals with the features and configurations available.
8. Review and Refine: Review and refine the objectives and scope document as the project progresses. Changes in business requirements or unexpected challenges may necessitate adjustments.
By following these steps, you can establish a solid foundation for your Xactly implementation, setting the stage for a project that meets your organization's needs while staying within budget and timeline constraints.
Strategy #2: Thoroughly Plan the Implementation
Develop a detailed project plan that outlines all the tasks, timelines, and resources required for the implementation. A well-structured plan helps avoid delays and reduces the chances of unforeseen issues cropping up. Thorough planning can also prevent costly mistakes from rushed or haphazard implementation. Here are the steps that an organization must take to ensure a comprehensive and effective plan:
1. Assemble a Project Team: Form a dedicated project team with representatives from key departments, including sales, finance, IT, and other relevant stakeholders.
2. Define Roles and Responsibilities: Clearly define the roles and responsibilities of each team member. Assign specific tasks related to the implementation, such as data migration, system configuration, training, and ongoing support.
3. Develop a Project Charter: Create a charter outlining the objectives, scope, timeline, budget, and potential risks. The charter serves as a reference point for the team. It helps stakeholders understand the purpose and expectations of the Xactly implementation.
4. Set Clear Goals and Milestones: Establish specific and measurable goals for the Xactly implementation. Break down these goals into milestones that can be tracked throughout the project.
5. Allocate Resources Appropriately: Ensure that the necessary resources, including personnel, budget, and technology, are allocated appropriately. Consider the expertise required for system configuration, data migration, and ongoing support.
6. Identify and Mitigate Risks: Conduct a thorough risk assessment to identify potential challenges during implementation. Develop a risk mitigation plan that outlines strategies for addressing and minimizing these risks.
By following these steps, an organization can create a well-structured and thorough plan for implementing Xactly, setting the stage for a successful integration that meets its objectives and delivers value to its sales performance management processes.
Most of these items can be outsourced to a dedicated project manager.
Strategy #3: Invest in Training
Ensure your team is adequately trained to use and administer the Xactly system. Investing in training upfront can prevent costly mistakes and reduce the need for ongoing support and troubleshooting. Well-trained users are more likely to utilize the system effectively, maximizing the return on your investment.
Xactly provides a comprehensive training program and dashboard called Xactly University. Your Canidium project manager will tell you which training track is appropriate for each role that intends to interact with the solution.
Read more about Xactly University: Xactly University: Your Key to Streamlined Implementation.
Strategy #4: Leverage Out-of-the-Box Features
Take advantage of Xactly's out-of-the-box features and configurations before considering customizations. Customizations can significantly increase implementation costs and may also complicate future upgrades. Evaluate your business processes to see if they can be aligned with the standard functionalities provided by Xactly, and only opt for customizations when necessary.
- Commission Expense Accounting (CEA): Delivers a comprehensive commission expense management solution that ensures organizational compliance.
- Commissions Earnings Forecasting (CEF): Visualize possible commission impacts alongside pipeline data to build more effective financial plans and motivate sellers by showcasing how deals will influence their earnings potential.
- CRM Accelerator: Automates, Implements, and Manages CRM operations. Xactly CRM Accelerator lets you easily create and manage any compensation plan directly within Salesforce.
Strategy #5: Engage in Open Communication with Your Implementation Partner
Maintain open communication with the implementation partners you may be working with. Communicate your budget constraints and expectations from the beginning. This can help negotiate better pricing and lead to more accurate project estimates.
Regular communication throughout the implementation process can also help identify and address issues promptly, avoiding costly delays. Here are project communication best practices that will increase the efficiency and effectiveness of your Xactly implementation:
1. Establish a Communication Plan: Develop a comprehensive communication plan that outlines how information will be disseminated throughout the implementation. Specify the frequency of updates, the channels of communication (such as email, meetings, or collaboration platforms), and the intended audience for each type of communication.
2. Engage Key Stakeholders Early: Involve key stakeholders from different departments, including sales, finance, and IT, early in the process. Ensure they know the goals, timeline, and potential impact of the Xactly implementation on their workflows.
3. Provide Regular Updates: Keep stakeholders informed about the progress of the implementation through regular updates. Highlight critical milestones achieved, upcoming tasks, and any changes to the timeline or scope. Transparent and consistent communication builds trust and helps manage expectations.
4. Hold Regular Status Meetings: Regular status meetings with the project team and key stakeholders. These meetings provide an opportunity to discuss progress, address concerns, and collaboratively solve challenges. Ensure that these meetings are focused, agenda-driven, and result-oriented.
5. Document Decisions and Changes: Keep detailed records of decisions made during the implementation and any changes to the scope or requirements. This documentation serves as a reference point for the team and helps prevent misunderstandings or disputes later in the project.
6. Facilitate Two-Way Communication: Encourage open communication channels for feedback and questions. Provide avenues for stakeholders to express concerns, ask for clarification, and offer insights. A two-way communication approach helps identify issues early and ensures everyone feels heard.
7. Prepare for Post-Implementation Communication: Develop a plan for post-implementation communication to ensure a smooth transition to the new system. Communicate any process changes, address lingering questions, and provide ongoing support as users adapt to the Xactly platform.
By implementing these communication best practices, organizations can foster a positive and collaborative environment during the Xactly implementation, ultimately contributing to the project's success and user adoption.
Suppose you take advantage of the dedicated project manager from Canidium. In that case, they can complete many of these items for you or alongside you.
Navigating a Cost-Effective Xactly Implementation for Enhanced Sales Performance
Embarking on an Xactly implementation is a strategic move for organizations seeking to optimize their sales performance management. However, the significant investment in this endeavor necessitates a thoughtful approach to ensure efficiency and cost-effectiveness. In this article, we've outlined five key strategies aimed at helping your organization achieve a successful and budget-conscious Xactly implementation.
As you explore these strategies, it's crucial to remember that while cost savings are possible, a delicate balance must be maintained. The alignment of a cost-effective implementation with your organization's unique needs is paramount for long-term success.
A well-planned and meticulously executed Xactly implementation saves costs. It sets the stage for enhanced sales performance, streamlined processes, and a robust foundation for future growth. Embrace these strategies, collaborate effectively, and embark on your journey toward a successful and cost-conscious Xactly implementation.
Now that you have these cost-saving strategies under your belt, your next step is to read this article about having a dedicated project manager. You will hear directly from one of our Xactly project managers, Jessica Vyvial, about how to optimize your implementation.
READ THE ARTICLE: How a Dedicated Project Manager Leads to Successful Xactly Implementation
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