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TrueComp for Insurance Meets the Unique Challenges of the Insurance Industry, Optimizing the Effectiveness and Productivity of the Distribution Channel

Bracknell, Berkshire, April 9, 2002 – Callidus Software, Inc., the trusted provider of Enterprise Incentive Management (EIM) solutions, today announced the release of TrueComp® for Insurance. Specifically designed to support the unique requirements of the Life, Property & Casualty, and Group Health and Life Insurance Industries, TrueComp for Insurance leverages the functionality, quality, performance and scalability that has made Callidus Software successful in over 70 EIM implementations in other industries.

Slowed profits and growth, continued merger and acquisition activity, proliferation of specialized insurance products, as well as the inclusion of other investment and financial service offerings, have driven insurance companies in all sectors to recognize the distribution channel as a critical factor in enterprise success. Incentive compensation software, such as TrueComp for Insurance, has become a significant contributor to improving distribution effectiveness and productivity, ultimately aligning the activity in the sales and distribution channel with corporate goals and increasing shareholder value.

"TrueComp for Insurance is our first product that is specifically designed to deal with the requirements and challenges of a specific industry sector," says Reed Taussig, President and CEO of Callidus Software. "TrueComp’s scalability and support for a high volume of transactions, combined with the ability to manage complex compensation plans and integrate data from a wide range of legacy systems, enables insurance companies to effectively manage compensation in the distribution channel and increase market share. We are proud to offer the only software application that provides out-of-the-box functionality specifically in support of the incentive compensation processes of the Life, P&C, and Group insurance companies."

Callidus enables large enterprises to maximize profits through effective pay-for-performance incentives for salespeople, distributors, retailers, and other participants in the sales channel. By allowing companies to provide appropriate incentives, customers are able to increase shareholder value by aligning business processes with overall corporate goals. Due to their scalability, flexibility, and accuracy, the Callidus solutions quickly become the system of trust for managing incentive compensation in a broad range of industries. With Callidus TrueComp, companies can effectively model scenarios, integrate and validate data from applications across the enterprise, and leverage results to analyze progress against business objectives.


About Callidus Software Inc.

Callidus Software (http://www.CallidusSoftware.com), the leading provider of enterprise incentive management (EIM) solutions, boosts business results through effective pay-for-performance programs. Callidus Software’s EIM software automates incentive programs inside and outside the company. TrueComp automates modeling, administration, reporting and analysis of variable compensation tied directly to sales results ranging from sales commissions to payments to dealers, distributors, and retailers. TrueChannel similarly automates trade channel promotions programs, which are paid incentives to distribution partners. Callidus Software’s EIM software provides precision, trust and understanding to successfully reward revenue-boosting behavior and optimize profitability drivers, thus improving business performance.

Callidus Software, founded in 1996, is privately backed by Crescendo Ventures, Crosspoint Venture Partners, Invesco Private Capital, ONSET Ventures, Goldman Sachs Group and Transamerica Technology Finance. Customers/Partners include Airborne Express, Inc., The Alexander Group, Credit Suisse Group, DIRECTV, Dun & Bradstreet, Electronic Data Systems Corporation, Juniper Networks, Inc., PricewaterhouseCoopers, Accenture LTD., AOL Time Warner Corporation, Pennzoil-Quaker State Company, Sun Microsystems, Telstra, Towers Perrin and VERITAS, Inc.

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Callidus Software, TrueComp, and the Callidus Software logo are registered trademarks and TrueComp Manager, TrueComp Modeler, TrueComp Viewer, TrueChannel, TruePerformance, TrueIntegration, and TrueService are trademarks of Callidus Software, Inc. in the United States and other countries. All other brand or product names are trademarks or registered trademarks of their respective companies or organizations.


Contact:

Callidus Software Ltd, David Blume, +44 (0) 1344 666029, dblume@callidussoftware.com

Wendy Marshall, PR Consultant, +44 (0) 20 8560 1437, wm@wendym.demon.co.uk

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