This week marks another Xactly anniversary. In 2005, we set out to change the way salespeople were paid and incentivized, knowing that cloud computing would change everything. Our vision from day one rejected the status quo––we knew on-premise software wouldn’t be enough for tomorrow’s businesses.
It’s a Whole New Era of Productivity
When we got started over 15 years ago, every company was calculating commissions in spreadsheets or on complicated on-premise systems. While the on-premise systems were certainly a step up from manual spreadsheet processes, alas they were prohibitively expensive for most businesses leaving the vast majority of companies stuck in spreadsheet hell. These spreadsheet-based processes were slow, manual, and error-prone, and yet many businesses today still use them to calculate compensation. It’s like texting on a T9 keyboard with your first flip phone.
Would you use a flip phone to answer work emails today? No way! Our mobile phones make us all productive at a rate that was unimaginable in 2005. The same holds true for the cloud, which has unlocked a world where we can automate complex processes, mitigate risk, and retain top performers, streamlining the entire working experience of sales leaders, reps, and managers.
We’ve paved the way in the sales compensation industry. Commissions are calculated in real-time on our platform, allowing instant feedback to the salespeople resulting in higher performance results. With our 15 years of data and performance trends, we’re making predictions that directly impact business growth. Data is vital to healthy business today––those who are overlooking data-driven strategies and software are being left behind. Gartner agrees: by 2022, 40% of B2B companies with over 100 payees will deploy SPM, and stop making errors in compensation.
So, what sets us apart? Our data. No one else in the industry has it. Other vendors in the space have only recently begun to understand the value and power of a fully AI-enabled analytics program. Throughout the years, we have amassed an unprecedented understanding of the entire sales pipeline: headcount, patterns in seasonality, attrition rates, quota setting, ramp times, and territory alignment, to mention a few.
This data enables our customers to improve, reduce and contain costs faster and smarter than ever before. No longer do companies need to guess or assume the ramp-up times for reps when modeling their sales organizations. They can simply access the actual historic ramp times for their own organization, and equally valuable, they can access the actual historic ramp times for hundreds of thousands of reps over the past 15 years from our deep data set!
What was once a little-known category has grown to encompass some of the Fortune 500’s largest and most recognizable companies including Louis Vuitton, Salesforce, and Schneider Electric. Gartner created the Magic Quadrant for the SPM category for the first time in 2013. And in every year following, Xactly has consistently been named a leader. This year, Gartner reported that the Sales Performance Management market as a whole grew 14%, to $1.099 billion, in 2019.
Who We Are Today
But for me, Xactly is more than great software and data. We’ve also built an internal culture at Xactly that I am proud of. We are a certified Great Place to Work with thoughtful policies around family leave, diversity and inclusion and, yes, compensation.
Today, there are over 600 Xactlians, each of whom have contributed to building the most robust, data-driven offering the market has seen when it comes to complex sales teams. We’ve pioneered the category, and together we’ll continue to identify market opportunities, geographical areas of growth, and new ways to innovate.
We are working with the world’s largest corporations, and our satisfaction comes from knowing that we are helping them drive the highest levels of performance from their teams. These enterprises are at the forefront of this technology shift. The laggards who love their spreadsheets and fail to embrace the power of historic empirical data to drive performance will be left behind in this increasingly competitive world. We look forward to the opportunities that 2020 and beyond will hold.
The future remains bright!