H.I.G. Growth Partners News
Salary.com Delivers Record First Quarter with 41% Increase in New Business Recurring Revenue in Q1 2017 over the Same Quarter a Year Ago
Company growth fueled by adding more than 225 new accounts in quarter and by an increase of 70% in add-ons and upgrades across the existing customer base year-over-year
WALTHAM, MA - April 19, 2017 – Salary.com, the leader in compensation data, software and services, announces continued strong momentum with a 41 percent increase in recurring revenue from new customers in its first quarter, ending March 31, 2017, over the same quarter a year ago. In the most recent quarter, the Company added more than 225 new customers. In addition, existing customers expanded their Salary.com solutions with a 70 percent lift in upgrades and expansions in Q1 2017, over Q1 2016. The Company attributes growth this quarter to product leadership, customer satisfaction and selling strategies built around industry expertise.
“Since the re-acquisition of Salary.com, we have been steadfastly focused on delivering exceptional customer experiences. This pervasive effort has deeply informed important investments in our product, process and people, and it has resulted in meaningful industry recognition. More important, the Company’s commitment to partnering with our customers has driven a 96 percent customer satisfaction rating,” said Kent Plunkett, CEO and founder of Salary.com. “The results this quarter are powerful endorsement of our customer-centric strategy. Product expansion with mobile and visual analytics, leveraging industry-leader Tableau, has delivered a demonstrably differentiated solution in the market, and it has attracted an impressive list of new customers in Q1. Our investments in professional services and customer support have driven notable solution expansion within our current customer base. These results point to a solid year ahead as we continue to drive customer success.”
With deliberate focus this quarter on its differentiated offering within the healthcare sector, Salary.com saw particularly strong penetration among hospital systems, including Amerihealth Caritas, Integris Health, Alana Healthcare, John Muir Health, Denver Health and Hospital Authority, Saint Anthony Hospital and Kershaw Health, among others. “We have long-served the healthcare market and, over two decades, have built the industry-leading compensation data and analytics solution for the sector,” said Rob Merklinger, senior vice president of sales at Salary.com. “As hospitals address talent shortages, expanding regulatory compliance requirements and ever-increasing demands for security and privacy, the Salary.com solution combines unmatched deep data with flexible, secure and powerful analytics to simplify oversight and decision-making in a fast-changing market.”
Looking forward to the second quarter, Salary.com will launch its innovative user experience environment across the full product platform at WorldatWork 2017 Total Rewards Conference and Exhibit, May 7-10 in Washington D.C. With Salary.com’s redesigned CompAnalyst solution, customers will benefit from new intuitive dashboards for analytics, workflow management, report sharing, and advanced communication capabilities in both the traditional desktop and mobile first environments. With its latest product launch, Salary.com is delivering the world’s leading data in an advanced software platform that enables significantly simplified collaboration, interconnectivity and streamlined management processes.
For more information about Salary.com, please visit the Company’s website at www.salary.com or visit them onsite at WorldatWork, booth 622.