Callidus Software - Leslie Stretch, CEO
Company: Callidus Software, Dublin, CA
Company Description: CallidusCloud enables its over 3700 customer companies to accelerate and maximize their lead to money process with a complete suite of solutions that identify the right leads, ensure proper territory and quota distribution, enable sales forces, automate configure price quote, and streamline sales compensation — driving bigger deals, faster.
Nomination Category: Management Categories
Nomination Sub Category: Executive of the Year - Computer Services
Nomination Title: Leslie Stretch, CEO of CallidusCloud: delivering profits and the promise of the Cloud
Tell the story about what this nominated executive has achieved since January 1 2015 (up to 650 words). Describe the impact he or she has had on your organization. Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms.
When CallidusCloud CEO Leslie Stretch assumed the role in 2008, its market capitalization was $132.25 million. Stretch led the company through another record-setting year in 2015, developing and implementing strategies to achieve 38 percent SaaS growth and solidify CallidusCloud’s status as one of the top-performing SaaS stocks on the market with a market capitalization of over $1 billion. This achievement is all the more remarkable considering the company is growing as quickly as peers that invest twice as much in sales and marketing, and consistently generates robust profits.
In 2015, Stretch capitalized on the traction the company has gained during previous years to drive CallidusCloud’s Lead to Money vision to new heights, demonstrating once again that a unified strategy for revenue generation operations delivers scalable productivity improvements in sales and marketing. Accelerating the shift to the cloud and emphasizing the importance of customer experience, Stretch oversaw a significant expansion of the customer base, adding more than 1,100 new customers while keeping retention hovering around 90 percent.
Under Stretch’s leadership in 2015, CallidusCloud increased its annual operating cash flow 189 percent to $26.5 million. Total revenue was $173.1 million in the 2015 fiscal year, an increase of 27 percent, which was achieved while maintaining positive operating income and EBITDA, a challenge that most SaaS companies fail to meet.
Stretch drove a number of key initiatives in 2015, including the unveiling at the company’s fast-growing conference C3 of an intuitive data and analysis engine adapted for sales that gives organizations a precise view of current sales performance and an accurate understanding of future performance. Stretch also oversaw the launch of the next-generation version of CallidusCloud’s industry-acclaimed Commissions platform at an exclusive summit for high-tech executives, customer company leaders and partner community executives, showcasing the platform’s new innovations, including a guided UI that makes it simple to unlock the power of incentives.
Stretch also drove significant marketplace and partnership expansions in 2015 and was a key participant in multiple conferences, including an exclusive summit for top North American insurers to highlight the new Producer Pro solution. CallidusCloud was a sponsor at Salesforce.com’s annual Dreamforce customer conference in San Francisco. Delivering a keynote address at the C3 customer conference in Las Vegas, Stretch presided over an event that exposed top prospects and customers to CallidusCloud’s latest innovations in sales, marketing, learning and customer experience.
In 2015, Stretch led CallidusCloud’s acquisition of BridgeFront, a leading provider of compliance education content for healthcare and insurance companies, onboarding a team of 20 with significant domain knowledge and more than 300 customers. BridgeFront content is now sold via CallidusCloud’s Litmos mobile learning business.
Under Stretch’s guidance, the company successfully completed a secondary public offering of 5.3 million shares early in 2015, significantly strengthening the balance sheet and bringing new investors into the stock.
At the beginning of 2015, Stretch orchestrated the company’s move to a new headquarters location in Dublin, California. Under Stretch’s direction, a modern, connected office space was created that now provides an excellent working environment for the company’s growing staff as well as a state-of-the-art venue to host customers and prospects.
In bullet-list form, briefly summarize up to ten (10) of the chief accomplishments of this nominated executive since the beginning of 2015.
• Presided over strong SaaS growth of 38 percent, with total revenue of $173.1 million for the full fiscal year, an increase of 27 percent
• Oversaw launch of the Predictive Sales Performance and Internet of Things Platforms
• Successfully hosted first partner summit, bringing together thought leaders and industry experts
• Drove rollout of new mobile Configure Price Quote application
• Placement of Litmos mobile learning platform in ADP marketplace
• Named a leader in Gartner’s Magic Quadrant for Sales Performance Management for third time
• Added 1,100 new customers, including Alcoa, Genesys, NVIDIA, BNY Melon Dreyfus, Fidelity Investments, Barracuda Networks, DiscoverOrg, University of Maryland, AT&T Mexico, Sunrun, Scott & White, PaddyPower, TNT Express, Sky Brasil, and Spireon.
• Acquired BridgeFront to expand healthcare insurance learning and compliance solutions
• Launched Producer Pro to provide insurers with complete visibility into producer population