You are currently browsing the tag archive for the ‘Sales’ tag.

In the realm of technology that matters for business and IT, our firm as part of our responsibility continually assesses the latest technology and how it can impact organizations’ efficiency and effectiveness.2013_Tech_Innovation_Award Our benchmark research in technology innovation found that 87% of participants indicated the importance of increasing the organization’s value through technology innovation. Every year we take our knowledge from research and technology briefings to focus on our Technology Innovation Awards and determine the vendors and products that have the potential to drive change in the market, the competitiveness of an organization’s business and sometimes just how efficiently a company operates. Our firm believes that Innovation can come from any size technology vendor from the smallest to the largest that are measured on a spectrum of attributes that contribute to the specific impact of the technology.

Our process with the Technology Innovation Awards is to separate out and find the vendors and products that have innovative technology that has the most potential and might be game changing or what might be just a necessity for organizations to use to compete in the market. We methodically assess and score those technologies according to more than 26 categories, and then rate and validate within each category to determine the winner of the Technology Innovation Award. Our methodology looks at the relevance of key aspects of technology, including people, processes, information and technology, along with any best practices for applying the technology and the resulting potential impact and benefits to organizations. To apply an additional lens on the technologies being assessed  we also employ the technology evaluation categories (functionality, capability, reliability, manageability, adaptability, TCO and ROI, and vendor validation) that we use to methodically assess vendors and products in our Value Indexes. This year we have kept a closer eye on usability of technology and where it can have use across a larger number of individuals in an organization or easier to use for a specific set of people or department, as our research found that usability had the highest level of importance for technology and vendor consideration in 64% of organizations.

Our award categorization makes it self-evident where the technology is relevant and is part of our research focus that is built around innovative technology, as I previously outlined. In the end our Technology Innovation Awards are not just about being a cool vendor but about having innovative technology in either a shipping product or one coming to market in the near future that is worth recognition.

According to our research, almost half of organizations (49%) are planning to change the way they assess and select innovative technology for business and IT through 2014. With that backdrop let me introduce you to the Technology Innovation Award recipients for 2013 so you can see for yourself what technologies could change how your organization operates significantly.

Business Technology

Business Innovation

Operational Innovation 

IT Innovation

If you want to learn about technology innovation and see examples including from ones that received a Technology Innovation Award, come to our Technology Innovation Summit. At the summit you’ll learn why it’s critical to assess innovation and look beyond what you are doing today to determine where you can make changes to drive improvement. Our research found that organizations are changing the way they evaluate innovation technology mostly to drive business improvement initiatives (60%) and improve the quality of business processes (57%). If you want advice or guidance to help you leverage technology innovations, just let me know, as we are always happy to help organizations be smarter and faster.

Congrats to this year’s award recipients for innovations that are worthy of our recognition and your time to see where they might help your organization.

Regards,

Mark Smith

CEO & Chief Research Officer

Sales organizations and individuals strive to reach their quotas and get paid the maximum commissions for their performance. In support of these goals, software vendor Xactly offers a suite of VR_leadershipwinnerapplications for sales performance management that operates in the cloud computing environment. An example of its success is receiving our recent 2013 Leadership Award in sales excellence for work by its customer Zuora. This achievement builds on its 2012 Leadership Award with customer GlobalEnglishMy last analysis of Xactly discussed its applications running on mobile technology including the Apple iPad, which answers the needs of sales people who prefer to use mobile technology. Xactly signed its 500th customer in late 2012, a milestone demonstrating its adoption by companies looking to improve sales.

I stopped in at its annual conference, CompCloud 2013, where it showed a range of advances in its core products Xactly Explorer and Xactly Territory Management, but what caught my attention was the introduction of Xactly Objectives and its innovative approach to simplify the user experience in defining, tracking and achieving objectives, which also can be linked to incentives not just in sales but anywhere in an organization. The application addresses the need for timely guidance and direction from managers to employees; that is a key aspect of  human capital management, as my colleague Stephan Millard outlined it for 2013. Xactly’s unique approach integrates to-do lists and objectives from worker to manager, who then can link them to incentives and bonuses; this facilitates motivating people to perform well. The idea of pay for performance has been a mantra in sales compensation for some time, and Xactly Objectives provides a viable way to accomplish it with an approach to help manage people and individuals manage to their objectives on a routine basis. While annual performance reviews might not go away anytime soon, lines of business need to manage performance weekly and monthly, which is easier when they can use incentives to stimulate higher performance.

vr_sales_preferred_accessMy analysis of the application shows that it covers the practical aspects of defining and supporting workers’ to-do lists and links them to individual and departmental objectives. Xactly Objectives shows progress and team members in visual form, which helps users engage more readily, and includes notification reminders such as the number of days left to achieve specific objectives. Xactly’s deployment in the cloud also matches the preference of 41 percent of sales organizations in our research. Xactly’s applications, and especially Objectives, also provide ease of use, which is the number-one evaluation criterion for purchase consideration in 73 percent of sales organizations and for 77 percent of participants in our human capital management research. Similarly the ability for individual sales reps to review progress to goals is one of the five most important capabilities according to our research. The Xactly Objectives application can add significant value to sales as well as the rest of the organization.

In the last year Xactly has worked to interoperate and integrate data with sales force automation systems from Salesforce, Oracle and even SAP so customers can work across applications used in their sales processes. Xactly also provides a rich set of analytics and reporting to help guide sales people in understanding how to reach their quotas and commissions. Xactly also previewed Insights, a benchmarking service that it has built from metrics in more than 500 companies that use its applications, to indicate where companies can improve their sales processes.

The introduction of Xactly Objectives demonstrates the SPM_VentanaResearch2012_SPMHotVendorexpanding nature of sales performance management, as outlined in my research agenda for 2013. It indicates why we see Xactly as a key application provider for sales and a Hot Vendor according to our 2012 Value Index on Sales Performance Management. Expanding its applications and integrating them all in its suite is the right approach as sales performance management continues to be red-hot with applications. I am happy to see that sales applications are getting smarter, as I hoped they will, and Xactly is expanding rapidly to meet the broader range of needs in sales and across the organization.

I expect that Xactly will find interest in its focus on objectives in customer service, field service, marketing and others departments, supported by its ease of use. Our research finds that in sales departments alone, 27 percent are looking to deploy new applications by the end of 2015 and that doing so is important to 83 percent of organizations. Other approaches in the market are either more closely aligned to HR and performance reviews or are trying to emphasize social collaboration rather than enabling workers and managers to define and achieve objectives. I believe that Xactly has some work ahead to make the application engage people in roles higher up the organizational chart, and it needs to add more collaborative capabilities, but for a first release Objectives offers much of what organizations should have in their standard portfolio of applications for gaining better productivity and performance that is directly aligned to the objectives of the organization.

I think those in management and finance roles will like to have visibility into objectives, and most will welcome having pay for performance, incentives and bonuses more tightly aligned with the direction of the organization and directly linked to daily, weekly and monthly activities. If you are serious about getting the most out of your workforce, having a defined method to use objectives that link achievement to incentives can be a useful management tool. In that perspective, Xactly Objectives should be on your list of applications to consider.

Regards,

Mark Smith

CEO & Chief Research Officer

Enter your email address to follow this blog and receive notifications of new posts by email.

Join 17,018 other followers

Mark Smith – Twitter

Top Rated

Blog Stats

  • 146,755 hits
Follow

Get every new post delivered to your Inbox.

Join 17,018 other followers

%d bloggers like this: