Bangalore, India and San Jose, California - May 16, 2016:
Wipro Limited (NYSE:WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting, and business process services company, today announced a partnership with Xactly Corporation (NYSE: XTLY), a leading provider of enterprise-class, SaaS and cloud-based incentive solutions for employee and sales performance management. The partnership will offer Sales Performance Management (SPM) solutions for customer organisations across industry sectors in a software as a service model.
Organisations are constantly devising new ways of incentivizing their salesforce to drive desired outcomes. Sales performance management (SPM) solutions help organisations bridge the gap between their business goals and sales performance.
Sales performance management (SPM) software comprises tools and process functions that automate and unite back-office sales processes, improve sales execution and operational efficiency. Gartner estimates the Sales Performance Management (SPM) software market grew 10% in 2015 to about USD 715 million in a report titled "Magic Quadrant for Sales Performance Management", document ID G00274059, dated Jan 21, 2016 by Gartner Analyst Tad Travis. Both Wipro and Xactly believe that the SPM market will continue to grow at a steady pace.
Headquartered in San Jose, California, Xactly develops software products and solutions that offer tools for enterprises make more strategic decisions, increase employee performance, improve margins, and mitigate risk.
Wipro brings with it rich experience in transforming the sales functions of large enterprises, across a gamut of business processes and technologies. It has delivered IT programs around incentive compensation and related elements that have helped customer organisations align their sales teams in line with the company's sales revenue and product mix goals.
By bringing together Xactly's technology prowess in the area with Wipro's deep domain and system integration expertise, the two companies seek to help customers drive incremental business growth by incentivizing and rewarding employee behavior. The partnership will enable customer organisations improve the performance of their employees, including that of their salesforce.
Wipro is also working with Xactly to transform compensation programs that will help clients recognize employees who deliver the greatest value to their organisation, regardless of their position in the organisation's hierarchy and/or tenure at the company.
Hiral Chandrana, Senior Vice President & Global Head, Business Application Services, Wipro Limited said, "Sales Performance Management is a key priority for organisations, across the board. Companies can optimize their sales performance processes through effective incentive compensation design for their employees and tools to measure the same. We are confident that Wipro's extensive experience in transforming the front-office sales process coupled with Xactly's incentive compensation cloud products will deliver the right platform to accelerate business outcomes for our clients."
"We are always looking to partner with like-minded industry leaders who understand the importance of using incentives to drive the right behaviors and are aiming to shape the next wave of this industry," said Nitin Mathur, Vice President of Worldwide Professional Services at Xactly. "Wipro's global reach and services expertise complements our mission of helping companies use compensation as a strategic lever to drive better sales alignment, retention, and performance."
Note: Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organisation and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About Wipro Ltd.
Wipro Ltd. (NYSE:WIT) is a leading information technology, consulting and business process services company that delivers solutions to enable its clients do business better. Wipro delivers winning business outcomes through its deep industry experience and a 360 degree view of "Business through Technology." By combining digital strategy, customer centric design, advanced analytics and product engineering approach, Wipro helps its clients create successful and adaptive businesses. A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, Wipro has a dedicated workforce of over 160,000, serving clients in 175+ cities across 6 continents. For more information, please visit www.wipro.com
About Xactly
Xactly is a leading provider of enterprise-class, cloud-based, incentive compensation solutions for employee and sales performance management. We address a critical business need: To incentivize employees and align their behaviors with company goals. Our products allow organizations to make more strategic decisions, increase employee performance, improve margins, and mitigate risk. Our core values are key to our success, and each day we're committed to upholding them by delivering the best we can to our customers.
©2016 Xactly Corporation. All rights reserved. Xactly, the Xactly logo, and "Inspire Performance" are registered trademarks or trademarks of Xactly Corporation in the United States and/or other countries. All other trademarks are the property of their respective owners.
Media Contacts
Subhashini Pattabhiraman
Wipro Limited
Subhashini.pattabhiraman@wipro.com
Kristin Reeves
Blanc & Otus for Xactly
+1 415-856-5145
kristin.reeves@blancandotus.com
Forward-looking and Cautionary Statements
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property, and general economic conditions affecting our business and industry. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.
