Introduction to Pendo and Its Collaboration with Xactly
Pendo, founded in 2013, emerged from the collaboration of industry veterans aiming to provide a simple solution for product success. With over $356 million raised to date, Pendo serves a diverse clientele from Fortune 500 companies to startups, focusing on accelerating software product adoption.
Challenges Faced by Pendo
Initially partnering with Xactly when their sales team had 55 members, Pendo faced the challenge of scaling their compensation programs and workflows as the team grew sixfold. William Holland, leading compensation strategy, relied on Xactly Incent to automate incentive plans and adapt to the expanding sales force effectively.
Xactly Incent Solutions for Pendo
Implementing Xactly Incent provided Pendo's sales organization with transparency, detailed insights into quotas, sales, and payments, bolstering motivation. Sales reps could easily access information crucial to their roles, such as payment details and plan documents, enhancing their focus on selling. The introduction of Xactly Show Me enhanced training efficiency and scalability.
Xactly Commissions Expense Accounting and Xactly Connect
Pendo's compensation team utilized Xactly Connect alongside Incent and Xactly Commissions Expense Accounting to streamline processes. By creating reports in Incent, the team worked towards a 5-day close period, minimizing research time on reconciliation issues and breaking down expenses efficiently.
Utilizing Xactly Show Me for Enhanced Sales Support
With the rapid growth of Pendo's sales force, Xactly Show Me played a vital role in empowering reps to find answers independently. This not only reduced response times and repeated queries but also allowed the compensation team to focus on strategic objectives, leading to more efficient operations.
Achievements and Future Prospects
Through Xactly solutions, Pendo achieved significant time savings, compliance with accounting standards, and a streamlined path towards a potential IPO. William commended Xactly's wide usage in the industry, exceptional support, and the benefits of a vast community of users, emphasizing its value in the sales compensation landscape.
Conclusion
In conclusion, the collaboration between Pendo and Xactly showcased how leveraging Incent, CEA, and Connect can address scalability challenges, drive efficiency, and foster growth. With a strong focus on transparency, automation, and training tools, Xactly proved instrumental in accelerating Pendo's growth trajectory and ensuring an optimized compensation strategy.