Financial Services Compensation Processing
Updated December 14, 2023

Financial Services Compensation Processing

Anonymous | TrustRadius Reviewer
Score 3 out of 10
Vetted Review
Verified User

Overall Satisfaction with Xactly Incent

Bi-Monthly processing of advisor commissions. Xactly allows us to process cash collected by advisors into the system to generate commission calculations by team and any splits. We utilize Xactly Analytics for reporting that is used by other departments to ensure accuracy of payroll processing.

Pros

  • Advisor Statements
  • Analytics Reports
  • User Interface

Cons

  • Calculation Engine - Very difficult to navigate formula based setups
  • Analytics processing delays - Can take up to 1.5Hrs to get an updated report
  • Disaggregated data. Don't have the functionality to pull many periods for review.
  • It was a great replacement from manual excel formulas that we were using previously
  • Provides us the reports we need to finalize payroll periods.
  • Xactly Analytics processing only once per hour is incredibly inefficient. This causes major delays.
  • Formula driven and lookup table driven compensation calculation can be very difficult to create without the use of a consultant who knows the backend system inside and out. SQL appears to be a way more functionable solution.
N/A
N/A
Automate advisor commissions from Incent to Workday.
N/A

Do you think Xactly Incent® delivers good value for the price?

No

Are you happy with Xactly Incent®'s feature set?

No

Did Xactly Incent® live up to sales and marketing promises?

I wasn't involved with the selection/purchase process

Did implementation of Xactly Incent® go as expected?

I wasn't involved with the implementation phase

Would you buy Xactly Incent® again?

No

It is more suited for sales reps that use quotas, plans, etc. Financial Services in which there are many teams with multiple financial advisors, and many splits, it gets very difficult to customize without an outside consultant.

Xactly Incent® Feature Ratings

Sales ICM
4.7
Sales compensation plan creation
3
Complex sales crediting
Not Rated
Sales compensation process automation
8
Incentive auditing/regulation compliance
3
Sales compensation dashboards & forecasting
Not Rated
Incentive modeling
Not Rated
Agile incentive strategy
Not Rated
ICM mobile visibility
Not Rated
Sales Gamification
Not Rated
Sales rep view
Not Rated
Analytics and Reporting
Not Rated
Personalized dashboards
Not Rated

Using Xactly Incent

3 - Advisor Commissions
1 - Outside Incent Consultant
  • Automated Advisor Commissions Calculations
  • Internal Advisor Reporting
  • Payroll Reports
  • Unsure
  • Unsure

Evaluating Xactly Incent and Competitors

  • Other
Upgrade from manual excel tracking
Scalability and Ease of Use

Xactly Incent Implementation

Xactly Incent Training

Configuring Xactly Incent

Too complex without a hired outside consultant
Update to a SQL based calculation engine
Unsure

Xactly Incent Support

Not timely, needs multiple emails.
ProsCons
None
Slow Resolution
Escalation required
Difficult to get immediate help
Support doesn't seem to care
Slow Initial Response
Yes - Forced too otherwise wouldn't get timely responses that would keep us on track with quick deadline turnarounds. Our team cannot clear a stuck queue and have to rely on support for this.
Yes - Somewhat
I cannot

Using Xactly Incent

Interface is fine, the background calculation structure is difficult to use.
ProsCons
None
Do not like to use
Unnecessarily complex
Difficult to use
Requires technical support
Slow to learn
Cumbersome
Feel nervous using
Lots to learn
  • Viewing reports
  • Setting up unique team splits
  • Needing lookup tables for everything
  • Having to have Connect knowledge for anything to be scaleable

Xactly Incent Reliability

We have grown 4x over three years, and feel we have maximized our capabilities with our unique structure, and team setups
Available to process comp when needed
Analytics only processes once an hour, takes about 40 minutes to load after that. Can take up to an hour and a half to get update Analytics Reports

Integrating Xactly Incent

Relationship with Xactly Corp

Upgrading Xactly Incent

Comments

  • Nancy White | TrustRadius Reviewer
    Nancy White
    (Vendor Representative) commented 2 years ago
    Thank you for your review. It's great to hear that Incent has streamlined your workflow. We appreciate your comments and will take them into consideration as we prioritize features for the roadmap. Thank you again for taking the time to provide feedback. Nancy White, VP Customer Success (nwhite@xactlycorp.com)
  • Sonia Cabrera Rossi | TrustRadius Reviewer
    Sonia Cabrera Rossi
    (Vendor Representative) commented a year ago
    Thank you for taking the time to leave a response. I'm happy to hear that you are pleased with Xactly Incent’s statements, analytics, and user interface. Recent updates optimized the Analytics runtime; if this has not been your experience, please reach out. We welcome the opportunity to discuss your experience so we can ensure any issues encountered have been addressed for future projects. If you would like to discuss these or any other topics, please get in touch with me at srossi@xactlycorp.com. Thank you, Sonia Cabrera Rossi, Director, Xactly Product Education

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