Xactly, a sales performance management and incentive compensation solution provider, has acquired Obero.
The acquisition will add sales planning, and incentive management (ICM) capabilities to its platform. These additions will enable customers to reduce risk, and ensure compliance, as well as helping companies to capitalise on their market opportunity.
Xactly offers a cloud-based solution for sales organisations, providing them with sales quota and territory planning, incentive compensation management, and predictive analytics. The platform provides a selection of risk mitigation solutions, management tools and commission expense accounting services, among others.
The company’s technology is used by financial services to help meet growth demands, leverage cloud security for its data and access actionable insights through data analytics.
Obero develops solutions for budgeting, forecasting, reporting, business intelligence and sale performance management. The company also offers enterprise compensation solutions for revenue, expense and probability management, which are used for companies with subscription users and recurring revenue models.
The new ASC 606 / IFRS 15 revenue recognition standard was recently implemented in the US and indicates when IFRS reporters recognises revenue. It also requires entities to provide users of financial statements with more informative and relevant disclosures.
Through this acquisition, the combined Xactly and Obero solutions will enable consumers to have an end-to-end solution to capture, track, record and report commission data, to the required levels. It will also have the ability to report commission expenses based on specific needs to support GAAP compliance.
Xactly founder and CEO Christopher Cabrera said, “The new revenue recognition standard has the potential to be a disruptive force for sales and finance alike. With this acquisition, we are accelerating our ability to help customers meet this challenge while creating a world-class sales organization driven by intelligent planning and execution across the sales lifecycle.”
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