Strong Customer and Company Momentum Marks Xactly’s 6th Consecutive Year of Record Business Performance
SAN JOSE, Calif. – February 22, 2012 – Record company and customer growth continued at Xactly Corporation for the sixth straight year, the company announced today.
In the 12 months ended January 31, 2012, Xactly grew new customers by 57 percent over the prior year. In the second half of the year alone, Xactly added more than 120 new customers. Xactly’s market-leading solution is the first cloud-based incentive calculation and commission tracking system.
Xactly’s continued customer success underlines the need for cloud solutions that can efficiently automate the management of sales incentives, while providing actionable insights to both sales reps and management. In addition to rapid new customer adoption, Xactly maintained a customer renewal rate of greater than 91 percent. Its recurring revenue grew by 31 percent over the prior year and the company finished the fiscal year with yet another cash-flow positive quarter.
Customers selecting or expanding their use of Xactly Express and Xactly Incent in Xactly’s fiscal year 2012 (FY12) include Cbeyond, Comscore, Cvent, LogRhythm, Nutanix, PayPal, Perceptive, Projectplace, OrthoFix, Veolia, Whitehat Security and Yammer.
“Xactly’s success in the past 12 months stems in part from the continued widespread adoption of Software-as-a-service, or cloud-based solutions by larger firms,” said Christopher Cabrera, president and CEO, Xactly Corporation. “In FY12 more than ever companies with over 1,000 sales reps picked Xactly to automate their incentive processes. The incredible growth in larger customers happened even as we expanded our efforts to help small-and-medium-sized businesses get better results through more strategic incentive initiatives.”
Enabling Large Businesses to Incent for Success
Helping enterprise customers improve their performance management, Xactly continued to innovate its flagship platform – Incent. While adding a significant volume of new features and functionality, Xactly Incent maintained nearly 100 percent uptime in FY12.
In addition, the continued success of the platform led the company to split its multi-tenant instance of Xactly Incent into two separate pods in December 2011. Having two pods Xactly Incent will enable the company to better serve customers while also allowing room for continued customer growth.
Xactly introduced new or enhanced features and modules to Xactly Incent in FY12, including:
- Xactly Sandbox: A new workspace that allows users to pre-test incentive plan changes. By pre-testing modifications, customers can insulate their businesses from risks or disruptions.
- eDocs & Approvals: The latest version of Xactly eDocs & Approvals provides customizable workflows to automate the generating, routing, review and tracking of document approvals.
- Xactly Territories: New features for Xactly’s territory management and credit assignment solution include easier uploads for orders, territories and dimension data.
- Mobile and Online Enhanced mobile functionality allows sales to access their individual and team rankings from mobile devices.
Getting SMBs on the Express Way to Better Sales and Operational Efficiency
Xactly Express, the industry’s first incentive compensation management solution designed specifically for SMBs, continues to see momentous customer growth. Already, hundreds of small and emerging companies have selected Xactly Express to ease the administrative burden of managing compensation, as well as provide a competitive edge to their sales teams.
Features and innovations unlocked in FY12 include:
- Xactly Express Plan Store: Sales compensation plan templates founded on industry-leading best practices are built into Express, providing users access to best practices so they can incent right.
- Xactly Express for the iPad: This app enables reps to easily view their plan and performance against their plans, giving them access to performance-altering data anywhere.
- Eased administration: New features support commission payments in 155 currencies and help split sales credit between sales reps. The latest release improved navigation, eased setup for draws and credit adjustments and added custom fields for payment rule formulas.
Company Growth Driving Global Expansion
To support its continued success and momentum, Xactly grew in nearly all facets of the business – bolstering its strong management team, while growing its overall headcount and partner ecosystem. Highlights in FY12 include:
- International and Partner Growth: Xactly built on its partnership ecosystem, adding Zurich-based Nefos, Jerusalem-based Sana Group, Fluido in Finland, and Saleswax in Belgium to further expand into EMEA markets. A new alliance with Channelinsight provides customers with the world’s first on-demand channel sales compensation solution. Xactly also strengthened important relationships with compensation experts including Mercer and ZS Associates.
- Expanded North American Operations: To support its rapid growth, Xactly expanded its U.S. operations, moving to a new headquarters in San Jose, Calif. and opening an office in Denver. All told, Xactly’s grew its headcount by 38 percent.
- Bolstered Strong Management Team: The company added Christopher Newton, vice president of marketing; Ron Rasmussen, vice president of engineering; and Sam Rapp, vice president of enterprise sales to reinforce its solid management team and support its continued momentum.
- Delivered New Customer Success Community: Xactly unveiled the Xactly Customer Success Community, a new self-service customer portal that connects customers directly to Xactly experts and fellow users for discussions about best practices and ideas, as well as provide feedback and to vote on future product enhancements.
- Released Free Offering for Non-Profits: XactlyOne for Non-Profits, a new program offering qualified organizations free licenses to Xactly Incent and Xactly Express, helps non-profits more effectively manage how they are tracking to overall contribution goals. The company also celebrated the 7th year of its XactlyOne philanthropic program, through which Xactly staff supports community organizations.
- Received Industry Accolades: Xactly was recognized for both outstanding company and product performance in FY12:
- Ranked number three in The Wall Street Journal’s prestigious list of the Top 50 Venture-Backed Companies.
- Won the 2011 Market Award for Incentive Management from CRM Magazine for the third consecutive year.
- Named a “Hot” Vendor in the Ventana Research 2011 Value Index for Sales Performance Management.
- Xactly CEO Christopher Cabrera named 2011 Alumni Entrepreneur of the Year by the Lloyd Greif Center for Entrepreneurial Studies at the USC Marshall School of Business.
- Won the CRM Excellence Award from Technology Marketing Corporation’s Customer Interaction Solutions® magazine for the fourth consecutive year.