ICAEW Software Purchases and Digital Transformation Initiatives

Discover the latest software purchases and digital transformation initiatives being undertaken by ICAEW and its business and technology executives. Each quarter our research team identifies on-prem and cloud applications that are being used by the 737 ICAEW employees from the public (Press Releases, Customer References, Testimonials, Case Studies and Success Stories) and proprietary sources.

During our research, we have identified that ICAEW has purchased the following applications: Xactly Incent Enterprise for Incentive Compensation Management in 2017 and the related IT decision-makers and key stakeholders.

Our database provides customer insight and contextual information on which enterprise applications and software systems ICAEW is running and its propensity to invest more and deepen its relationship with Xactly or identify new suppliers as part of their overall Digital and IT transformation projects to stay competitive, fend off threats from disruptive forces, or comply with internal mandates to improve overall enterprise efficiency.

We have been analyzing ICAEW revenues, which have grown to $390.0 millions in 2019, plus its IT budget and roadmap, cloud software purchases, aggregating massive amounts of data points that form the basis of our forecast assumptions for ICAEW intention to invest in emerging technologies such as AI, Machine Learning, IoT, Blockchain, Autonomous Database or in cloud-based ERP, HCM, CRM, EPM, Procurement or Treasury applications.

About the Customer

The Institute of Chartered Accountants in England and Wales was established by royal charter in 1880. It has over 150,000 members. Over 15,000 of these members live and work outside the UK. In 2015, 8,256 students joined ICAEW – the highest ever figure.

Scope and Challenges

The organization is a financial professional organization which's goal was to improve compensation process efficiencies; motivate sales performance and increase alignment between finance and sales on incentive compensation.

To turn plans into reality, in 2017 the leadership chose Xactly's SPM application - Xactly Incent Enterprise. 

Outcome and Implications

 “By providing real-time numbers on sales and commissions, the Commercial finance team can improve forecasting and decision making. Additionally, this insight allows managers and the finance functions to gain a better understanding of how variable pay impacts performance.” - said Evan Ellis, President, and COO of Xactly Corporation.

By using Xactly’s SPM software, sales and finance teams get a real-time view into sales incentive compensation and can access data that shows how payouts impact top line performance.

Before adopting Xactly, ICAEW was rewarding staff on a quarterly and annual basis. With Xactly’s advanced automation, ICAEW can quickly and easily award bonuses as frequently as desired, recognizing behaviors in a more timely and accurate fashion.

By rewarding team members promptly, organizations increase the effectiveness of their incentive compensation payments.

Quotes

“For our own organization, we needed to move beyond spreadsheets to effectively manage our compensation process and align with strategic objectives of the business.” - said Stephen Ibbotson, Director, Commercial & Business, ICAEW.