Salary.com Delivers Record Fourth Quarter and 34% Bookings Growth in 2017
January 12, 2018 (PRLEAP.COM) Technology NewsJanuary 12, 2018 - Salary.com, the leading SaaS provider of cloud-based compensation data and analytics, today announces record results for the fourth quarter, ended December 31, 2017, with a 31 percent increase in new business bookings over the fourth quarter of 2016, and 17 percent quarter-over-quarter new business bookings growth compared to the third quarter of 2017. The Company also reports 34 percent new business bookings growth in Fiscal Year 2017 over the year prior.
"The combination of our deep compensation market experience, the richest data set available in the marketplace, and an all-new, award-winning CompAnalyst data and analytics platform was extremely well-received by customers. This, accelerated by a continued commitment to customer success, with the expansion of our customer-facing teams across the business, contributed substantially to our powerful growth this year," said Kent Plunkett, Founder and CEO of Salary.com. "We were extremely pleased to receive the 2017 Ventana Research Innovation Award in the Human Capital Management market for our newly launched CompAnalyst product line and are very proud of our Stevie Award for excellence in customer service, but the results we are announcing today are the highest praise we could receive, because they underscore the important validation of our strategy by our customers. We are helping thousands of individual compensation professionals and the organizations they work for recruit, engage, and retain their teams with simple, accessible, and actionable insights into their compensation strategies and practices."
In addition to our new product launch, with an expanded enterprise strategy and a targeted vertical focus, the Company closed many new large accounts and increased bookings growth in both the number of deals closed and an expanded average contract value. Bookings growth in the fourth quarter was advanced by a focus on the Healthcare, Financial Services, Information Technology, and Manufacturing vertical segments, which combined, represented 40 percent of all enterprise bookings in the quarter.
Salary.com is the leading SaaS provider of cloud-based compensation market data and analytics. Founded in 1999, the Company serves approximately 4,000 business-to-business customers worldwide with its market-leading CompAnalyst platform, designed to accelerate compensation workflows and improve efficiency. Through its Salary Wizard and consumer website, Salary.com delivers continually updated, reliable market pay data and career content to hundreds of thousands of consumers each year. The Company is committed to helping organizations drive company success by aligning compensation practices with recruiting, performance and development initiatives through easy-to-access data and meaningful insights. For more information, please visit the company website at www.salary.com.