Today, companies spend billions of dollars on sales compensation, which is the primary way to track and reward sales success. In the U.S. alone, businesses spend more than $800 billion a year on sales compensation. This is three times more than they spend on advertising and $100 billion more than the government spends on national defense.
Xactly co-founders, Christopher W. Cabrera and Satish Palvai saw that most organizations relied on spreadsheets to manage compensation, which was a time-intensive and error prone process. They observed that this resulted in poor forecasting and caused costly mistakes. In order to stop organizations from suffering from limited visibility, stifling performance and motivation, in 2005, Xactly was founded with an objective to automate sales compensation and move it into the cloud. The company has since become the market leader in cloud based incentive compensation and sales performance management. Utilizing a Software-as-a-Service (SaaS) model, Xactly's secure, cloud-based solutions empower businesses to avoid the complexities and costs of on-premise offerings and get immediate value from their compensation initiatives.
Xactly Corporation delivers 100 percent multi-tenant cloud solutions for incentive compensation and sales performance management. With an agile development model that releases new features every 6-8 weeks, the updates and innovations are delivered directly to customers via the cloud. The unique delivery model, innovative approach and the company's unique culture sets itself apart. In order to maintain the company's high renewal rate and to ensure that customers receive the best possible solutions and service, Xactly ensures that it remains focused on delivering on its core value system called C.A.R.E (Customer Focus, Accountability, Respect and Excellence). Xactly Incent, Xactly Express, Xactly Objectives and the recently launched Xactly Insights which is the industry's first sales compensation Big Data offering are the various products offered to prestigious clients like Hyatt, Honeywell, Lexmark, Twitter, Salesforce.com and Bank of America Merchant Services to name a few. Xactly has hundreds of clients in almost every industry and have been seeing very strong traction in the vertical industries, which include software & technology, financial services, media & communications, manufacturing and health care.
With a vision to empower companies to incent right, Xactly plans to continue innovating and investing in solutions and technologies that will help harness the proven power of variable compensation while optimizing the potential of all the employees.