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Xactly

Company: Xactly Corp, San Jose, Calif.
Company Description: Xactly Corporation is the market leader in on-demand Software-as-a- Service (SaaS) sales performance management software. Used by sales and finance executives, Xactly’s suite of applications help companies - from SMBs to large enterprises - to improve operational performance, optimize sales effectiveness, proactively manage risk and compliance, and maximize profits.
Nomination Category: Company Categories
Nomination Sub Category: Best New Company

Nomination Title: Boosting Sales Performance is Xactly the Point


  1. Tell the story about what this nominated company achieved since January 1 2007 (up to 500 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms. Be sure to mention obstacles overcome, innovations or discoveries made, and outcomes:

    For years, companies have known that how they compensate their sales teams 
    directly impacts business performance. According to former chairman and CEO
    of GE, Jack Welch, “Show me a company’s various compensation plans, and I’ll
    show you how its employees behave.” The right sales plans can motivate
    selling behavior to increase profits, control expenses and drive consistent
    quarter-over-quarter results.

    For most companies, however, the cost of traditional enterprise applications
    to automate this function is out of reach. Most still use complex spreadsheets
    to manage what are typically multi-million dollar cost centers in their
    businesses. Instead of simplifying the process, they simplify their
    compensation plans – ensuring decreased sales motivation, less overall insight
    into the sales process, and individual sales results that aren't aligned with
    corporate objectives.

    In his earlier career as head of operations for Callidus Software, Xactly
    founder and CEO Christopher Cabrera found himself forced to walk away time and
    time again from sales opportunities because most mid-market companies simply
    couldn’t afford the initial costs and ongoing maintenance of an enterprise
    sales incentive compensation application.

    In contrast, the on-demand software delivery model was starting to gain
    noticeable traction. Despite Cabrera’s evangelizing of the on-demand concept
    at Callidus, the company balked at having an on-demand offering. Cabrera
    subsequently left Callidus to pursue this vision, and launched Xactly in March
    of 2005.

    His idea was to take this complicated and challenging function for most
    companies –managing sales compensation – and automate it in an on-demand
    fashion so it could be cost-effectively taken to the huge mid-market that had
    been hitherto underserved. In doing so, Xactly has been instrumental in
    radically opening up the market for sales compensation management to the
    broader market.

    In just under three years, Xactly has signed 100 customers. Xactly manages
    more compensation, and more compensation complexity, than any other on-demand
    vendor today. In fact, Xactly software helps its current customers manage
    nearly $1 billion in sales compensation annually.

    By far, Xactly’s top achievement in 2007 was its breakout business performance:
    • Achieved 700% year-over-year revenue growth
    • Signed 200% more new customers (2006/2007)
    • Tripled customer subscriber base (2006/2007)
    • Achieved a 94.4% customer-renewal rate, far exceeding the industry
    average

    Also in 2007, Xactly completed its third round of financing, raising an
    additional $15 million to help finance further growth. And in April 2008, the
    company completed its fourth round of financing – one of the market’s largest
    SaaS investments to date – for $30M. Total funding to date for Xactly is $57M.

    Xactly is also now pioneering a much larger, emerging market category called
    Sales Performance Management (SPM). In 2006, Gartner predicted that “a sales
    performance management market will coalesce around best-of-breed vendors
    largely originating from the sales incentive compensation management market.”
    Building upon its current leadership in on-demand Sales Compensation
    Management (SCM) software, Xactly was the first vendor to deliver upon this
    overarching market – outlining a detailed 18-month product roadmap in March
    2007 and delivering key modules throughout the year.

  2. List hyperlinks to any online news stories, press releases, or other documents that support the claims made in the section above. IMPORTANT: Begin each link with http://, and enclose each link in square brackets; for example, [http://www.youraddress.com]:

    - Supporting Press Releases -

    XACTLY CORPORATION SECURES $30 MILLION TO CEMENT LEADERSHIP POSITION IN SALES
    PERFORMANCE MANAGEMENT
    April 30, 2008
    http://www.xactlycorp.com/news_events/pr_043008.php

    XACTLY CHANGES THE GAME IN SALES PERFORMANCE VISIBILITY
    WITH ON-DEMAND ANALYTICS
    April 28, 2008
    http://www.xactlycorp.com/news_events/pr_042808b.php

    XACTLY ACHIEVES BREAKOUT BUSINESS PERFORMANCE IN 2007
    January 28, 2008
    http://www.xactlycorp.com/news_events/pr_012808.php

    XACTLY ANNOUNCES XACTLY REWARDS FOR SALESFORCE.COM’S FORCE.COM
    December 11, 2007
    http://www.xactlycorp.com/news_events/pr_121107.php

    LEADING ANALYST FIRM RATES XACTLY “PROMISING” IN 2007 MARKETSCOPE FOR SALES
    INCENTIVE COMPENSATION MANAGEMENT
    August 1, 2007
    http://www.xactlycorp.com/news_events/pr_080107.php

    XACTLY SECURES $15M SERIES C FINANCING
    April 23, 2007
    http://www.xactlycorp.com/news_events/pr_042307.php

    XACTLY ANNOUNCES XACTLY MODELING
    March 12, 2007
    http://www.xactlycorp.com/news_events/pr_031207c.php

    XACTLY OUTLINES STRATEGIC PRODUCT ROADMAP FOR INDUSTRY-LEADING ON-DEMAND SALES
    COMPENSATION MANAGEMENT
    March 12, 2007
    http://www.xactlycorp.com/news_events/pr_031207a.php

    - Supporting News Coverage -

    Silicon Valley Business Journal
    Xactly Gets $30M in New Financing
    April 30, 2008
    http://triangle.bizjournals.com/triangle/othercities/sanjose/stories/2008/04/2
    8/daily51.html?t=printable


    Xactly Unveils Analytics Service that Helps Customers Cut Costs
    Enterprise Systems Journal/TDWI
    April 30, 2008
    http://www.esj.com/business_intelligence/print.aspx?editorialsId=8942

    Analytics is Xactly What Sales Teams Need
    DestinationCRM
    April 30, 2008
    http://www.destinationcrm.com/articles/default.asp?ArticleID=7894

    Interview with Chris Cabrera, CEO of Xactly
    TMCNet
    February 22, 2008
    http://blog.tmcnet.com/telecom-crm/2008/02/22/interview-with-chris-cabrera-
    ceo-xactly.asp


    Intelligent Enterprise 2008 Editors’ Choice Awards – Companies to Watch in
    Performance Management
    January 2, 2008
    http://www.intelligententerprise.com/channels/performance_management/showArtic
    le.jhtml?articleID=205207028&pgno=6


    Xactly Finds the Right Spot in Downtown San Jose
    San Jose Mercury News
    June 5, 2007
    http://www.xactlycorp.com/news_events/mercury_news_060407.pdf

    Xactly Expands from Compensation Management into Sales Performance Management
    The 451 Group
    March 12, 2007
    http://www.xactlycorp.com/news_events/451group_03132007.pdf

  3. Provide a brief (up to 100 words) biography about the leader of this nominated company:

    Christopher Cabrera is the president and CEO of Xactly. Prior to founding 
    Xactly, he was the senior VP of operations for Callidus Software, an on-
    premise incentive compensation management company. Under his leadership, the
    company acquired more than 100 customers, and grew annual revenues from zero
    to greater than $75 million and a successful IPO in 2003. Before joining
    Callidus, he served as director of North American channel sales at Silicon
    Graphics. Mr. Cabrera earned a B.S. degree in business administration with an
    emphasis in entrepreneurship from USC and a master’s degree in business
    administration from Santa Clara University.