HGP – Iconixx Reports Record Sales as Demand Surges
AUSTIN, Texas–(BUSINESS WIRE)–Iconixx, the industry leader in next-generation, enterprise-class Incentive Compensation Management (ICM) solutions, today reported record sales for the quarter ending September 30, 2016.
“Enterprise-class companies are trending towards increasingly sophisticated incentive compensation models as global labor markets improve,” said Derrik Deyhimi, Founder and CEO of Iconixx. “The demand to automate incentive compensation with the power and flexibility to handle enterprise-level needs is growing, and I couldn’t be more pleased with the progress we are making in new customer acquisitions and annual recurring revenue growth.” Deyhimi was specifically citing:
- Record sales quarter for New and Expansion bookings
- 113% bookings growth over same-quarter-sales of previous year
David Loia, Chief Revenue Officer, attributes recent performance to CFOs leveraging incentive compensation for competitive advantage. “CFOs are taking a fresh look at the strategic role of incentive compensation, replacing older systems that are too cumbersome, with enterprise-class ICM software built specifically to handle the speed and complexity of new business processes,” Loia adds.
An example of this enterprise-level ICM trend is at a Fortune 500 consumer products giant, with tens of thousands of employees spread across the globe. “As the leading provider of sales compensation and incentive management software for modern, large enterprises, only Iconixx had the power, flexibility, and speed to meet their rigorous requirements,” Loia said, referring to the Incentive Compensation Management Stress Test.Another example is a global company with headquarters in Europe and the USA. “The complexity of managing incentive compensation for a large multi-national, multi-currency workforce proved too demanding for their existing system. After unsuccessfully trying to pay the complex incentives inherent in their business, they selected the flexibility Iconixx gave them to easily leverage compensation to drive strategic growth,” said Loia.
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