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Frost Bank Freezes Out Compensation Complexity
[August 30, 2016]

Frost Bank Freezes Out Compensation Complexity


THE CHALLENGE - Frost Bank is one of the 50 largest banking companies in the U.S., offering a broad range of financial services across banking, investments, and insurance. While the company prides itself on maintaining strong and lasting relationships with its clients, a manual approach to sales compensation was stifling its relationship with its associates on variable compensation plans. Instead of focusing their time on high value activities like coaching, sales managers were mired in trying to manage compensation on spreadsheets across the company’s 125 banking locations. Not only was this an inefficient process that limited sales visibility for management and associates alike, it limited the bank’s ability to make even basic changes to its compensation plans that could help drive performance.



THE SOLUTION - To maximize its sales initiatives and meet its stringent audit requirements, Frost Bank knew it needed to automate its compensation initiatives. After a competitive review, Frost Bank chose Xactly for its leading technology, services, and the emphasis the company puts on maintaining strong relationships with its customers. An additional benefit was Xactly’s seamless integration with Salesforce CRM. Working closely with Xactly services, Frost implemented Xactly Incent™ and Xactly Analytics™, cleansing its data and realizing multiple best practices throughout the process. Today, Frost Bank is able to manage many of its compensation plans from one automated system, giving the bank the agility and visibility it needs to drive better performance.

THE RESULTS - For Frost Bank, Xactly has been able to bring together compensation processes to increase the productivity and unity of its commercial bankers, consumer and private bankers, and treasury management representatives. Automating has enabled the bank to both increase data stewardship and reduce the time and stress previously endured by sales managers. Frost’s bankers now have a tool to better understand and serve their most valued customers. Additionally, Finance and HR are able to ensure bankers are paid at the right time and that their percentages are accurate, leading to happier, more motivated associates. Management now has complete trust in the numbers and can use analytics and reporting to better understand what products are selling to whom and when, enabling better planning. They also have the ability to quickly modify plans to maximize opportunities in the market. With Xactly, Frost Bank has the right partner and the compensation technology it needs to continue to grow, while delivering a stellar experience for both its banking associates and customers.

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