Sales Commission Management Sees a Successful Exit - Xactly Corp. Acquired by Vista Equity Partners for $564 Million
SAN FRANCISCO – June 19, 2017 – CellarStone Inc., a premier provider of sales commission solutions congratulates Xactly Corp on providing a successful exit for its investors.
Xactly Corp (NYSE:XTLY) went public two years ago in an IPO that fell short of its target at $8 a share. The trading range was expected to be $10 to $12. Prior to going public, the company had raised more than $80 million from venture capitalists.
During the last two years as a public company, Xactly revenues had grown more than 50% to $95M, but losses continued and at the latest year-ending, stood at more than $16M. Vista Equity Partners made an offer of $15.65 a share, compared to Xactly's last closing price of $13.40.
Xactly also announced its expectation of loss for the upcoming quarter of between $1.7 million and $1.9 million. This follows another acquisition of a sales commission provider, Varicent by IBM. The only major independent vendors left in the marketplace now are Callidus Software and CellarStone. Inc., with its QCommission family of sales compensation products.
QCommission’s powerful commission plan architecture allows the definition of almost any kind of sales commission structure. The sales commission agreement can be unique by payee or shared across groups. CellarStone’s unique QXchange integration layer allows the integration of data between QCommission and most standard accounting and CRM applications.
QCommission allows companies to:
- Set up simple or complex plans based on their need
- Publish compensation plan documents and approve it using workflow
- Administer any kind of commission plans directly by the business user
- Calculate commissions for more than 65 different industries
- Integrate to 30 different applications and data formats
- Allow mobile and web access to the field
- Project commission estimates to the field
“We congratulate Xactly Corp in its commitment to providing a return on investments to its investors,” said Gopi Mattel, CEO of CellarStone, Inc. “Commission administration is a challenging business area to automate and they have provided success to their investors.”
About CellarStone, Inc.
CellarStone Inc. is one of the premier companies offering products and services in the Sales Compensation arena. CellarStone works with IT, Finance, Human Resources and Sales to manage and implement variable pay and sales commission systems. QCommission has been implemented successfully for companies in many industries including Mortgage, Staffing, Manufacturing, Consulting, Investment Management, and many others. For more information please visit www.cellarstone.com.
All product and company names are the trademarks of the respective companies.
CellarStone and Compensation Master Team Up to Provide Sales Comp Plan Analysis, Optimization, and Automation
CellarStone, Inc., a premier provider of sales performance management solutions, has formed a strategic relationship with CM Global Partners which is powered by CompensationMaster to offer businesses a 360 view of the impact of sales comp plans on the bottom line.
San Mateo, CA, September 03, 2014 --(PR.com)-- CellarStone Inc., a San Mateo, CA-based sales commission management solution, and Charlotte, NC based CM Global Partners, a leading Lean improvement compensation planning company announce a new Strategic Partnership.
Together CellarStone and CM Global Partners strategically provide the client with the ability to better understand the financial impact of sales commission plans on a company’s P&L and to determine if reps are being paid what was intended. Once plans are evaluated and adjustments implemented, CellarStone’s QCommission product will be available to automate the sales commission management process to ensure optimal earnings.
"Retaining key talent and motivating the sales force are challenging issues for many businesses," says President David J Cocks. "We offer an innovative and proven approach that allows companies to give people a say in how they would like to be compensated – to build greater trust and transparency into the process, align the goals of the sales force and management, and become more responsive to the market. The outcome is that management and the sales team both walk away winners and, in turn, so do the clients and customers."
CellarStone Funded by Lighter Capital
CellarStone Inc., a premier provider of sales performance management solutions, accelerates its strategic plans by announcing a funding agreement with Lighter Capital.
San Mateo, California – August 20, 2014 – CellarStone Inc., a leading provider of cloud based sales performance management solutions, has announced an agreement with Seattle-based Lighter Capital to obtain funding to embark on its next stage of growth. The financing will be used to expand the sales and marketing of the CellarStone solutions.
"Lighter Capital started following our company and the sales performance management market space a few years ago. With 17 million salespeople in the USA alone, the sales commission market space presented a tremendous opportunity", said Gopi Mattel, CEO of CellarStone. "Lighter Capital was also particularly interested in our cost-effective business model in solving the sales commission management problem."
"CellarStone's veteran leadership, profitable and solid growth, sophisticated technology, compelling market presence and proven business model made it clear that this was a great company to invest in" said BJ Lackland, CEO of Lighter Capital. "We are thrilled by the addition of CellarStone to our investment portfolio. CellarStone's recent acquisitions of webKPI and CommTrack also allows expansion into more business opportunities. We’re excited to be their financing partner through the company’s next phase of growth and hope to provide more funding as growth accelerates."
CellarStone, A Sales Compensation Management Provider, Acquires Commission Tracking Provider CommTrack
SAN MATEO, Calif., May 20, 2014 /PRNewswire-iReach/ -- CellarStone Inc., a leading provider of cloud based sales compensation management solutions, has announced that it has entered into an agreement to acquire Southern California based CommTrack. CommTrack's commission tracking solution will be added to CellarStone's solution suite that includes Easy-Commission, QCommission, QXchange and webKPI to help companies increase their sales force performance effectiveness.
"CommTrack has done a great job of providing a simple and effective solution to customers needing sales commission software", said CellarStone's President and CEO, Gopi Mattel. "With the changing technology landscape, including SaaS and subscription models, and CellarStone's pre-eminence in providing these rapidly evolving technology enablers, means we can really add value to CommTrack's customers. We will be able to take CommTrack's 1000+ customers and allow them access to advances such as SaaS, Mobile and Business Intelligence technologies. And, we can add additional integration possibilities over and above what has been offered to those customers. This is a great relationship and a great benefit for all of our customers."
CommTrack's sales commission solution capabilities has been used to solve businesses' sales commission plan administration and tracking need for more than 5 years. The ease of use of the solution has allowed the ability to serve large numbers of customers with very little support requirements.
"With CellarStone's more sophisticated technology, and broader implementation and support services, it was clear that we could better serve the needs of our customers by merging our two firms", said CommTrack Founder and President, Clem Dominguez. "As a competitor in the marketplace, we have long had a lot of respect for CellarStone's approach and focus on the customer, and we are very happy to become part of CellarStone. We expect to be able to add a lot to CellarStone's business."
Sales Compensation Management Provider, CellarStone, Acquires Business Intelligence Analytics Provider, webKPI®
Danville, CA, May 10, 2013 --(PR.com)-- CellarStone Inc., a leading provider of cloud based sales compensation management solutions, has announced that it has entered into an agreement to acquire webKPI, LLC. The webKPI suite of cloud based SaaS solutions that include Business Intelligence Dashboards, Benchmarking Valuation and Peer Benchmarking Services, will be added to CellarStone’s solution suite that includes Easy-Commission, QCommission and QXchange, to empower companies to manage their products and services process from inception through sales commission payment.
Together, CellarStone and webKPI will deliver a comprehensive cloud offering for organizations to manage their sales compensation needs, while also providing greater business performance focus on factors driving Key Performance Indicators in areas such as clients, products, services, sales reps and related costs. The combined solution offering will empower managers to effectively drive sales incentive compensation management by providing sales reps and accounting with solutions to ensure the accurate and timely calculation of commissions. In addition, the webKPI platform will provide business owners and managers a powerful business intelligence capability to drill down into sales data by client, product, sales rep and region.
CellarStone's QCommission Sales Commission Solution Integrated with Oracle Sales and Marketing Cloud Service
SAN MATEO, Calif., March 8, 2013 /PRNewswire-iReach/ -- CellarStone Inc., a premier provider of sales commission solutions and Oracle partner announced that the company's sales commission solution, QCommission has been certified by Oracle for its integration with Oracle Sales and Marketing Cloud Service.
CellarStone today announced the availability of QCommission for Oracle Sales and Marketing Cloud Service. QCommission is a flexible, powerful solution designed to automate the most complex sales commission processes and to calculate sales representatives' compensation, accurately, quickly and professionally.
QCommission's powerful commission plan architecture allows the definition of almost any kind of sales commission structure. The sales commission agreement can be unique by payee or shared across groups. CellarStone's unique QXchange integration layer allows the integration of data between QCommission and Oracle Sales and Marketing Cloud Service.
QCommission uses the Oracle Sales and Marketing Cloud Service API provided by Oracle to achieve this higher level of integration. The API also ensures that QCommission is properly authenticated prior to getting access to the Fusion CRM One data. All access calls to Oracle Sales and Marketing Cloud Service data is through the API that communicates using a secure HTTPS channel. It can extract data such as Customers, Contacts, Opportunities, etc that are needed in commission calculations.
CellarStone, Inc. Achieves SAP® Business One Integration Certification from SAP AG for its Sales Commission Solution, QCommission
California – Aug 21, 2007 - CellarStone Inc., a provider of sales commission and data integration solutions, today announced that its sales commission solution, QCommission, has achieved certified integration status from SAP AG. In order to comply with SAP® Certified Integration requirements, Cellarstone has demonstrated that it has adhered to SAP’s strict guidelines for interfacing with the SAP Business One application.
QCommission uses the SAP Business One Software Development Kit (SDK) provided by SAP to achieve this certified level of integration. The SDK also helps ensure that QCommission is properly authenticated prior to getting access to the SAP Business One data. All access calls to SAP Business One data are through the SDK. It can extract data such as accounts receivable invoices, accounts payable purchase orders, business partners, sales employees, sales quotations and credit memos that are needed in commission calculations. It also understands various price structures and calculates the gross profit automatically.
“QCommission can take out the complexity involved in administering commissions’ payout,” says Gopi Mattel, CEO of CellarStone Inc. “The robust integration allows it to remove data redundancy, as it can extract the required information from within the system and make the system a single point for administration. The SAP Certified Integration of QCommission helps ensure that the integration follows the best standards and is designed for future releases."
QCommission integrated with SAP Business One provides the following functionality:
- Imports different kinds of transactions, such as invoices, purchase orders, sales quotations, sales orders, credit memos, etc.
- Filters the transactions based on their status (open, closed, paid, etc.), as well as created and/or modified dates
- Automatically handles adjustments and cancellations inside QCommission
- Brings business partner information and set commission plans based on customers or vendors
- Brings sales employees into the system, either as a separate feed or along with the associated transactions
- Provides the ability to set up gross profit calculations based on various item prices or it can be calculated from sales quotations, purchase orders and pay commissions
- Sets up simple or complex plans based on needs
- Calculates commission rates on sales amount, gross profit and quantity
- Splits credits across multiple individuals and provides overrides
- Calculates commissions at any frequency, including monthly, bi-weekly, weekly and quarterly
About CellarStone Inc.,
CellarStone Inc. is one of the premier companies offering products and services in the Sales Compensation arena. CellarStone works with IT, Finance, Human Resources and Sales to manage and implement variable pay and sales commission systems. QCommission has been implemented successfully for companies in many industries including Mortgage, Staffing, Manufacturing, Consulting, Investment Management, Insurance and many others.
SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP AG in Germany and in several other countries all over the world.
All other companies or product names mentioned are trademarks or registered trademarks of their respective owners.
SAN FRANCISCO – September 14, 2006 – CellarStone and salesforce.com (NYSE:CRM), the market and technology leader in on-demand business services, today announced the availability of QCommission for salesforce.com's AppExchange. QCommission is a flexible, powerful solution designed to automate the most complex sales commission processes and to calculate sales representatives’ compensation, accurately, quickly and professionally. Built on the AppExchange on-demand platform as a composite application, QCommission is immediately available for test drive and purchase at http://www.salesforce.com/appexchange.
CellarStone Inc., a provider of sales commission solutions announced that Union Fidelity Mortgage, a premier provider of mortgage services has chosen QCommission Pro to automate its sales commission processes. QCommission is a flexible and powerful software designed to automate the most complex sales commission processes.
Larry Gerber Inc., a Manufacturing Firm, Selects QCommission to Automate its Sales Commission Process
CellarStone Inc., a provider of sales commission solutions announced that Larry Gerber, Inc., a noted Manufacturing Rep firm has chosen QCommission Pro to automate its sales commission process for all its reps.
CellarStone Launches QCommission - A Powerful & Flexible Sales Commission Software for Real Businesses
May 4, 2005 -- CellarStone Inc., a provider of software products, announces the release of QCommission 3.0, a flexible sales commission solution for small to mid-size companies. QCommission integrates with US and Canadian Editions of QuickBooks 2002, 2003, 2004, 2005 & Enterprise solutions 4.0 & 5.0.
CellarStone Launches QCommission - A Powerful & Flexible Sales Commission Software for Real Businesses
QCommission is a very flexible sales commission solution providing stand-alone capability as well as tight integration with QuickBooks 2002 & 2003 and can also be operated with spreadsheets, delimited and fixed length files to share the data. QCommission is the ideal sales commission software for small to mid-size companies.