Careers at Qualtrics
Qualtrics provides a range of software solutions to customers across multiple industries, which are designed to increase the efficiency and effectiveness of the market research and customer insight processes of its clients.
Qualtrics was founded in 2002 by Scott Smith, his sons Jared and Ryan Smith, and business partner Stuart Orgill. The Company’s beginnings date back to the summer of 2001, when Ryan Smith was serving an internship at Hewlett-Packard, his father called to tell him that he had throat cancer and would begin treatment immediately. Ryan Smith returned home to spend time with his family, where he found that his father had already begun developing the technology that forms the basis of Qualtrics’s solutions.
Ryan and Scott Smith developed the technology together in the family’s basement, with Ryan Smith working on securing customers. Qualtrics’s first customers were educational organisations, including Kellogg School of Business. Ryan and Scott Smith began to hire a small team to work on the Company’s products, and by 2004 had around 20 employees, with Jared Smith brought onboard to lead the Company’s engineering operations.
Qualtrics began attracting the attention of venture capital investors in 2008, but declined numerous offers of investment. In 2012, however, the Company completed its first forma l round of investor funding, raising $70 million from investors such as Sequoia Capital and Accel Partners. This was followed by a Series B round in 2014, which raised a further $150 million and brought onboard Insight Venture Partners as an investor.
Qualtrics has since established itself as one of the most followed technology companies in the world, serving more than 8,500 leading brands across North America, Asia Pacific, and Europe, Middle East, and Africa. The Company still serves a number of its original customers. Qaultrics is often talked about as a potential candidate for an initial public offering. Its most recent round of funding in 2014 saw the Company valued at around $1 billion.
Benefits at Qualtrics
Business model of Qualtrics
Qualtrics provides a range of software solutions to commercial customers operating across a range of industries. The Company’s principal target industries are:
- Aviation and Automotive, including a range of domestic and international airlines, as well as auto manufacturer brands;
- Financial Services, including banks, credit unions, insurance providers, and other financial service providers;
- Government, including local, state, and federal government bodies and agencies in the US, as well as public organisations;
- Education, including schools, school district bodies, and higher education institutions;
- Media, including broadcasting companies, television networks, and publishing houses;
- Travel and Hospitality, including travel agencies, hotel chains, cruise companies, and travel businesses;
- Retail, including a range of online and physical retailers, such as supermarkets, pharmacies, clothing stores, and cafes; and
- Business to Business, including a number of business-to-business service providers, such as delivery and distribution companies, and software and technology companies.
Qualtrics serves a number of high-profile clients, including American Airlines, MasterCard, JetBlue, Allianz, Ferrari, FedEx, Oracle, Toyota, Disney, Wikipedia, Tesco, Airbnb, and Expedia. Qualtrics is headquartered in the US, but provides services to an international client base.
Qualtrics provides value to its clients in the following ways:
- Its reputation and industry standing, with the Company established as a reliable provider or software solutions and services, serving a client base of high-profile commercial entities;
- Its portfolio of innovative and unique products, with the Company offering a broad range of solutions, including market research and customer insight solutions, utilising proprietary technologies and properties;
- Its international and industry reach, with the Company serving a range of clients across multiple industries and business sectors, as well as geographic regions, including the Americas, Europe, Asia Pacific, and the Middle East; and
- Its technical expertise and experience, with the Company employing a team of highly-trained, specialist technical personnel, as well as a team of experienced industry executives.
Qualtrics operates a website at www.qualtrics.com, through which it provides information on its products, solutions, and services. The Company allows customers to request demos of its solutions directly through its website. It also operates an online customer portal through which customers are able to manage their accounts, access the Company’s cloud-based solutions, and manage payments. The Company’s solutions are principally cloud-based but can also be delivered through on-premises offerings.
Qualtrics operates an in-house sales force, which can be contacted over the phone and serves clients directly, arranging demos and subscriptions. The Company organises its sales force geographically, operating separate teams for sales across North America; Europe, Middle East, and Africa; and Asia Pacific.
Qualtrics provides a range of solutions to customers on a partly self-service basis. The Company enables customers to browse solutions and request demos through its website, and operates entirely self-service software platforms that enable customers to utilise the full suite of Qualtrics tools and functionality independently, without interacting with the Company’s personnel.
Qualtrics’s sales, however, appear to require direct consultation with members of the Company’s sales teams. The Company’s specialist sales professionals are able to work directly with customers to ensure that they receive a solution that is tailored to their needs and requirements, ensuring that they are provided the most appropriate service. The Company works closely with its clients in order to establish long-standing relationships.
Qualtrics continues to provide personal care to customers after sales have been made, through its technical support services. The Company provides a range of online support resources, in the form of user guides, troubleshooting guides, and technical information Customers are also able to contact members of the Company’s support staff over the phone or via an online contact form in order to receive personalised responses to queries and complaints.
Additionally, customers are able to interact directly with Qualtrics through its social media accounts, including with Facebook, Twitter, LinkedIn, and Google+.
Qualtrics is a Software-as-a-Service company. It provides a range of software solutions that are designed to collect, analyse, and implement customer experience data.
The Company offers a broad portfolio of software solutions, including Qualtrics Vocalise, an insight platform for flexible dashboards and dynamic case management; Qualtrics Research Suite, a software solution for online customer and employee surveys; Qualtrics Mobile, an on-the-go software solution; Qualtrics Target Audience; and Qualtrics Site Intercept, a solution for Web intercepts.
The Company is based in the US but serves a global customer base, comprising commercial and institutional bodies across multiple industries, including the retail, travel, media, education, government, financial services, and automotive sectors.
Qualtrics works in conjunction with a range of partners companies and organisations, with which the Company works to provide effective solutions. These partnerships include:
- Technology and Development Partners, comprising a range of technology companies, systems integrators, and software developers, that assist the Company in developing, delivering, and implementing effective solutions to customers;
- Marketing and Affiliate Partners, comprising a range of companies, websites, and vendors that assist in extending the Company’s own marketing reach in return for commissions and benefits;
- Supplier and Vendor Partners, comprising suppliers of services, tools, and resources that support the Company’s internal operations, as well as companies to which certain on-technical functions can be outsourced;
- Strategic and Alliance Partners, comprising a range of companies and organisations with which the Company shares resources and collaborates on joint projects.
Qualtrics has recently launched a number of partnerships. This includes a partnership with Slack, which allows the Company’s users to conduct surveys and receive notifications within Slack; a deal with Tableau under which they provide joint data solutions; a tie-up with iMotions that seeks to enable customers to obtain greater insights from human behavior; and a partnership with Danske Bank to provide customer surveys.
Qualtrics’s key resources are its technologies and intellectual properties, its portfolio of software solutions and digital platforms, its IT and communications infrastructure, its sales and distribution channels, its partnerships, and its personnel. The Company also owns and leases a number of properties – principally office space – across North America, Asia Pacific, and Europe, Middle East, and Africa.
Qualtrics unique solutions are key to its effective operations. The Company utilises proprietary technology to develop these solutions. Searches of records published by the US Patent and Trademark Office identified one patent application under which the Company is named as applicant and assignee. This application is entitled ‘Mobile device and system for multi-step activities’ and relates to the development of a guided system for mobile devices.
Qualtrics incurs costs in relation to the development of its technologies and solutions, the maintenance of its IT and communications infrastructure, the implementation of marketing and advertising campaigns, the operation of its sales and distribution channels, the management of its partnerships, and the retention of its personnel.
Qualtrics incurs substantial costs in relation to the payment of salaries and benefits to its workforce of more than 1000 employees. A significant portion of the Company’s expenses relate to occupancy costs.
Qualtrics generates revenue through the development and provision of various enterprise software solutions. The Company operates a software-as-a-service model, offering customer experience, market research, and employee insight solutions to its clients on a subscription basis.
The Company does not provide a pricing structure on its website, however, reports suggest that the Company’s basic packages cost around $5,000 per year, with the option of adding additional products and add-ons that can increase the cost. Clients are also able to pay fees to have add additional users to the subscription plan.
Qualtrics is a privately-owned company and is not obliged to disclose its financial results on its website. In 2015 Qualtrics was reported, however, to have generated approximately $125 million, up considerably on the $100 million in revenue recorded by the Company in 2014.
info: Ryan Smith has served as Chief Executive Officer at Qualtrics since co-founding the Company in 2002. He oversees the general strategic direction of the Company and is its key decision maker, and is credited with having grown the Company into one of the most closely followed technology businesses in the world. Smith previously worked for a brief period in 2003 at Ford Motor Company, where he served as a member of the Company brand management team. Smith is a graduate of Brigham Young University’s Marriott School of Business.
info: Jared Smith has served as Chief Operating Officer at Qualtrics since 2010, having previously served briefly as a member of the Company’s senior leaderships team after co-founding the Company in 2002. Jared Smith began his career at WordPerfect in 1992, serving in the Consumer Product Management Department. He went on to join Novell in 1995, where he held a product management role for two years before taking on a similar role at Juice Software. He worked briefly at Qualtrics in 2004 before joining Google, where he served in a number of roles in the company’s AdSense, Technical Operations, and Product Management Departments.
info: Chris Beckstead (“Beckstead”) has served as Vice President and Head of Finance at Qualtrics since joining the Company in 2013. Beckstead has held numerous senior management and executive roles across multiple industries. From 2004 to 2006 he served as a manager at ADC Telecommunication as part of its Corporate Financial Planning and Analysis Department. He was made director of the department in 2006 and was promoted to the role of Controller of Wireless at the Company the same year. Beckstead joined TE Connectivity, which was acquired by ADC Telecommunications, in 2010, serving as its Finance Director of Wireless and Services for less than two years before being named the company’s Director of Finance and Operations in 2012, his last position prior to joining Qualtrics.
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