The company’s success last year demonstrates the strong market demand for effective compensation solutions that enable companies to align and motivate their workforce.
In its fiscal year ending January 31, 2013 (FY13), Xactly grew revenue by 32% the previous year. The company also grew its customer base by more than 60%, exceeding the 500 customer mark and notably increasing the number of large customers compensating more than 1,000 people.
The company also turned its focus to new markets; recently opening its European headquarters in London to further support traction in the EMEA region which is aided by local partner support from ZS Associates, OpenSymmetry, and westbrook International.
Investment in the region has also meant growth, with the hiring of several new additions to the London team. This includes Scott Noble as EMEA sales director who joins the team from Mercer, where he helped launch the Sales Performance practice. Noble brings with him a wealth of knowledge on the implementation and transformation sales performance reporting can bring, as well as a great knowledge of the industry built up during his work at PricewaterhouseCoopers, Young & Rubicon, NewEdge Corporation (later acquired by Thomson Reuters) and PR Newswire.
Colin Shubrook, joins the team as pre-sales solutions consultant having spent the last 12 years working in sales for Infor Global Solutions. Shubrook’s experience of selling across Europe and strong background working closely with customers to find the best sales performance management solutions is expected to help the team with its European expansion.
Jeremy Pitt will be responsible for building local partnerships as EMEA Alliances Manager, helping Xactly build up its network in the region. With a background at technology companies such as SAP, e-Spirit, ReadSoft and GTOS, Pitt brings over 22 years of experience of selling in the industry.
To help build its European presence Xactly has also hired an EMEA marketing director, Amanda Fennell. With over 20 years of experience in marketing, having worked for internal teams at Siemens, salesforce.com and NewVoiceMedia, Fennell brings to the team a strong background in SaaS and deep knowledge of the technology market.
Awards and Renewals
The company maintained a customer renewal rate of more than 92% in FY13 and was recently selected as a winner in the Salesforce AppExchange Customer Choice Awards.
“Service is the critical part of Software-as-a-Service, and stellar products are paramount as customers are empowered to easily switch from vendors that don’t deliver on their promises,” said Christopher Cabrera, president and CEO of Xactly Corporation. “Our strong customer growth and renewal rates, countless awards and continued momentum speak volumes about our service, people and products and the value we deliver to our customers every day.”
Xactly was also named in the Wall Street Journal’s “Next Big Thing” list of the top 50 venture-backed companies in the United States for the second year running and featured as one of the top 25 small workplaces in the nation by Great Places to Work in FORTUNE Magazine.
New Customers and Features
New Xactly Incent and Express customers in Europe span businesses of all sizes, across several industries. These include ARM, British Gas, BrightTALK, Carestream Health, Dyn, Informatica, Mavenir Systems and Motorola Solutions Inc. as well as global customers Box Inc., Cornerstone OnDemand, Rosetta Stone Inc., and Zendesk Inc.
In FY13, Xactly continued to enhance its award-winning product lines with new features geared to help customers engage and motivate employees to achieve more. New gamification features including non-cash contests, leader boards, badges and social notifications allow sales managers to incent smarter for enhanced selling behaviors and allow sales reps to compete, win contests and be recognized amongst their peers.
In addition, Xactly delivered new mobile innovations including Xactly Incent and Express for the iPad®, providing sales reps the intelligence they need to optimize each deal and manage their sales commission payments anytime, anywhere.
Xactly’s partner community grew more than 100% in FY13 and the company strengthened its position as a leading compensation management provider for all three major CRM platforms: Salesforce.com, Oracle Sales and Marketing Cloud Service and Microsoft Dynamics CRM.
Xactly also added new integrations with key finance solutions, including Intuit QuickBooks, allowing growing businesses to easily manage every aspect of their revenue stream, including the payment of sales commissions.
The extension of Xactly Express Connect service, powered by Informatica, Scribe and Salesforce.com, allows customers to easily integrate information between Xactly Express and other business-critical applications.
The company also expanded the underlying architecture of its platform to meet the demands of its rapidly-expanding customer base. Xactly’s calculation engines can now process hundreds of millions of transactions for customers with tens of thousands of payees, further increasing the large addressable market the company focuses on.
“The last year has been the most successful in our company’s history and we are well positioned to accelerate our growth in 2013,” continued Cabrera. “Compensation is one of the most proven mechanisms for driving the right behaviors and results – not only in sales, but in any department. A huge opportunity remains for most companies to truly experience the impact that an effective and aligned compensation program can have on employee performance and bottom-line results.”