Spiff, the leading sales compensation software for forward-thinking revenue and sales organizations, today announced that Leslie Stretch has joined its Board of Directors. Mr. Stretch, who has had a storied career leading Software-as-a-Service (SaaS) organizations, is currently president and chief executive officer at customer experience (CX) management leader, Medallia, which he took public in 2019.
“From my first call with Leslie I had my fingers crossed that we would get to work with and learn from him,” Jeron Paul, the founder and CEO of Spiff said. “I admire him deeply for the driving force he has been in the SaaS industry and as one of the early pioneers in the commission management space. I couldn’t think of a better partner to help define and create a new category of software for our customers.”
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Mr. Stretch joined Medallia in 2018 and guided the company to a successful IPO in July 2019. The company has emerged as a leader in the Customer and Employee Experience management platform market; in December, the company was named a Leader in Gartner’s first Magic Quadrant for Voice of the Customer and has an enterprise value north of $7 billion.
Prior to Medallia, Mr. Stretch was the President and CEO of Callidus Software, an early leader in the sales commissions space, for 11 years. Callidus was acquired by SAP for $2.6B in 2018.
“I am delighted to join up with Jeron and his super team,” said Leslie Stretch. “Spiff brings new technology, drive and ideas to the commissions process which I know very well. The solution delivers that rare marriage of ease of use with sophisticated and powerful technology. Sales incentive spend is one of the biggest line items in a company’s P&L. Every selling team and every finance organization in the world needs this capability. Making sure sales commissions are managed correctly to drive the right behavior is a critical investment. Spiff frees up Sales Leaders and Sales people to focus on winning. At the same time the platform gives Finance the peace of mind to know they can properly incentivise and reward the right people and behaviors, eliminating costly errors and reducing risk.”
According to independent research firm Gartner, the sales performance management market grew by 14 percent in 2019 and companies saved as much as five percent in compensation expenses after implementing a solution. The commission process involves a cross section of corporate leadership – CEO, operations, finance, sales, and human resources are all routinely involved in developing and managing commission programs – and is often complicated by manual processes that are prone to human error.
“Leslie will help us build an iconic company. We are excited to welcome him to the Board,” said Sean Jacobsohn from Norwest Venture Partners, Spiff’s lead investor.
