SAN JOSE, CA – 08/02/10 – Callidus Software Inc. (NASDAQ:CALD), the leader in Sales Performance Management (SPM), today announced one of the most recognized leaders in investment management has selected the Callidus Sales Performance Management suite, the Monaco release, to manage its incentive compensation programs for its U.S. sales force and channel partner organization. The agreement was signed in the second quarter of 2010.
“This new win highlights the strong market momentum for our new Monaco On-Demand suite in specialized sales-driven markets like investment management,” said Lorna Heynike, senior vice president of marketing at Callidus Software. “By providing the flexibility to model, design, and tune mixed incentives and rewards for key corporate growth metrics, including fund performance, performance relative to peers, and risk management, the Monaco solution helps asset management organizations bring a high degree of control to their financial performance. In addition, because the solution transparently classifies, measures, and rewards sales managers and producers based on those growth metrics, firms gain a critical competitive advantage in identifying, appropriately rewarding, and therefore retaining their top income producers.”
The company will deploy Callidus TrueComp Manager®, and Reporting and Analytics software modules in its first phase to measure performance, and pay and report on incentives based on fund performance. The suite replaces a set of complex, inflexible spreadsheet solutions which prevented the company from effectively communicating incentive regimes to the field, and from paying managers accurately, in a timely manner.
Callidus Software’s award-winning solutions manage the entire sales and agent lifecycle from on-boarding, to incentives and rewards, to talent development, while providing visibility into sales operations and financial performance. This gives customers the ability to align their sales force and channels with their key business objectives to consistently and reliably execute on sales targets. The software is used by leading companies in a broad range of verticals including high-tech, telecommunications, banking, insurance, and pharmaceuticals. Since its inception nearly 15 years ago, the company has evolved into the most experienced, proven, and reliable SPM vendor in the marketplace. Callidus Software manages over $50 billion in incentives and compensation for more than two million payees in over 140 countries.
About Callidus Software®
Callidus Software (NASDAQ:CALD) is the market and technology leader in Sales Performance Management (SPM). Callidus customers gain a competitive advantage by maximizing sales cost efficiencies and driving improvements in sales effectiveness. Our award-winning Software-as-a-Service (SaaS) applications set the standard for performance management of a company’s sales force and channel partners. Over 2 million employees and channel partners have their performance managed by Callidus Software. For more information, please visit www.callidussoftware.com.
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