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 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
- 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.
- 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
- 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.
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