Grows Revenue by Nearly 50 Percent and Customers by Over 60 Percent; Continues to Enhance the Industry’s Leading On-Demand Sales Compensation Management Platform
SAN JOSE, CA – January 31, 2011 - Xactly Corporation, the leader in on-demand sales performance management (SPM), today announced its fifth consecutive year of record business performance – marked by unprecedented revenue and customer growth.
In the 12 months ending December 31, 2010, Xactly increased worldwide recognized revenues by nearly 50 percent over 2009. In addition, the company maintained a customer renewal rate of more than 90 percent and grew its new customer base by more than 60 percent, adding marquee new customer names of all sizes and from all geographies, including Amy’s Kitchen, Ariba, Cox Media, Endeca Technologies, HOM Solutions, iPipeline, LinkedIn, LiveVox, Rimini Street, SAI Global Limited, Symmetricom, Inc. and Zebra Enterprise Solutions.
Despite a challenging economic environment, Xactly delivered another record year of revenue and customer growth – further demonstrating the market demand for automated sales compensation solutions, as well as the strength of our company and products” said Christopher Cabrera, president and CEO, Xactly Corporation. 2010 marked our five year anniversary, as well as our fifth consecutive year of record business performance. We continue to see strong demand from companies of all sizes and regions, as they look to eliminate wasteful spreadsheet based processes and transform sales compensation from a payout mechanism, to a strategic, behavior altering weapon.”
To further support customer growth and best practices, Xactly recently announced its first annual user conference, CloudComp, taking place May 23-24, 2011 in San Francisco.
Customers Transform Business Performance with On-Demand Sales Compensation Management
In addition to strong business and customer momentum, Xactly also continued to innovate across its suite of sales compensation management solutions, making it easier for sales, finance and compensation administrators to accurately manage their compensation initiatives, change sales behavior and improve business results. The company also maintained nearly 100 percent uptime for its multi-tenant, Cloud-based solutions.
Since its launch in February 2010, over 100 customers have adopted Xactly Express, the industry’s first self-service sales compensation management software designed specifically for SMBs. Recently, Xactly announced new features, such as the Express Estimator, making it easier for sales reps to maximize the pay-out of each sales deal and for administrators to manage larger data volumes and improve the commission payment process.
Express is one of those products that makes sense at every level. It increases the productivity of our sales people because they know exactly where they are against quota, and they don’t have to spend their time making their own calculations” said Travis Huch, VP Sales, Zuora.
Xactly also enhanced its flagship Xactly Incent platform, introducing Xactly Mobile, new functionality that allows sales reps to access personalized sales compensation dashboards from their preferred mobile device and Xactly Docs, a new module that allows users to create customized workflow processes for the seamless routing and approval of compensation related documents. Xactly Incent 6.5 also introduced new features that reduce the time it takes to administer sales commissions, as well as improves the user experience for customers managing larger sales organizations.
Xactly Incent has been a big success for Cox Media. The time and cost savings for our finance team have been great, but when you add the real-time visibility and performance-enhancing advantages it brings to our sales force, the benefits of Xactly are phenomenal” said Autumn Burton, Sr. Sales Compensation Analyst, Cox Media.
Other significant company accomplishments in 2010, included:
- Secured $12 million in new financing: Xactly raised $12 million in additional financing to further extend its customer and technology leadership in the SPM market. The round was led by Bridgescale Partners and included a strategic new investment from salesforce.com.
- Signed marquee new customers: Marking the strong need for on-demand SPM solutions, Xactly grew its customer base by more than 60 percent, adding leading customers from around the globe, including Administaff, CareFusion, KARL STORZ Endoscopy, MarketTools, Inc. and ThyssenKrupp Elevator.
- Increased business with existing customers: Demonstrating the ongoing value customers are receiving from Xactly solutions and services, the company maintained a renewal rate of more than 90 percent in 2010. In addition, more than a third of the company’s customers added additional subscribers, modules or expanded into new geographic regions, including Akamai Technologies, Cablevision, Dimension Data, Life Technologies, Informatica, Motorola, RightNow, salesforce.com, Sun Power and Time Warner Cable.
- Strengthened strategic partner relationships. Xactly advanced its strong partnership with salesforce.com, announcing an agreement that makes Xactly Express available on Force.com, regardless if the customer is currently a salesforce CRM user or not. In addition, Xactly continued as a key member in Oracle’s Inner Circle Partner Initiative for Oracle CRM On Demand and achieved Oracle Validated Integration between Oracle CRM On Demand and Xactly Incent. Xactly also extended its long term relationship with implementation partner, Astadia, making the company the first authorized reseller for Xactly worldwide.
- Received industry accolades: Xactly was recognized for both outstanding company and product performance in 2010, including:
- Received a Positive“ rating, the highest rating available, in Gartner’s Marketscope for Sales Incentive Compensation Management Software report.1
- Won TMC‘s CRM Excellence” Award for the third consecutive year.
- Won CRM Magazine’s 2010 Market Awards, Incentive Management category for the second consecutive year.
- Named a winner for the Best Financial Software Solution” in the SIIA 2010 CODiE Awards.
- Won the 2010 Stevie Award for Best Overall Company of the Year” and was named a 2010 finalist in the New Product of the Year” category.
- Named one of the 20 Coolest Cloud Productivity App Vendors” in Everything Channel’s CRN 100 Coolest Cloud Computing Products.”
About Xactly Corporation
Xactly Corporation is the market leader in on-demand sales performance management. The company’s SPM Suite of products, enables sales and finance executives to design, implement, manage, audit and optimize sales compensation management programs easily and affordably. Xactly’s solutions automate the process of aggregating data from disparate systems into a secure, hosted repository, and enable companies to leverage this business data, which is the lifeblood of sales performance management. Xactly helps companies improve operational performance, optimize sales effectiveness, proactively manage risk and compliance, and maximize profits. The Xactly family of products is used by sales and finance executives, compensation analysts, sales operations and sales professionals across a variety of industries, ranging from SMBs to large enterprises. For more information, visit www.xactlycorp.com or call 1-866-GO-XACTLY (469-2285).
- Gartner MarketScope for Sales Incentive Compensation Management Software” Michael Dunne, March 5, 2010.
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