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Bracknell, Berkshire, January 30, 2003 – Callidus Software, the industry expert in Enterprise Incentive Management (EIM) solutions for enterprise customers, today announced that Kronos Incorporated (NASDAQ:KRON) joins the likes of Nike, Network Appliance, CUNA Mutual and others as a Callidus TrueComp customer. Chelmsford, Mass (USA).-based Kronos is a $342 million provider of human resources, payroll and labor management solutions. The company uses Callidus TrueComp to track compensation for its sales & service employees.


“We needed a way to accurately manage, track and reward sales performance. Increasing sales productivity is one of the keys to our growth, and keeping morale and employee satisfaction levels high is one obvious way to do that,” said Laura Vaughan, Kronos vice president of sales of the Americas. “By providing each sales person with detailed insight into performance and status, Callidus TrueComp allows us to meet both objectives. Not only is our sales force paid accurately and on time but we now have a better way to align sales behaviour with our overall corporate goals.”


In addition to administering accurate and timely payments, Kronos uses TrueComp to model compensation plans and structures to gain insight into how changes to those plans affect the sales budget and ultimately, the company’s bottom line.


“Companies with large sales organisations, such as Kronos, need a way to drive sales performance and behaviour to meet shareholder goals and objectives. Callidus TrueComp combines the two most important factors in accomplishing this goal - providing companies with increased visibility into selling patterns and an effective method for incenting sales representatives to sell the products that have the greatest impact on company revenue,” said Reed Taussig, president and CEO of Callidus Software.


With over 90% of enterprise companies using some type of incentive-based pay and experiencing a 5-10% error rate in that pay, effective compensation management becomes a crucial element in improving a company’s bottom line. More importantly, businesses are using incentive compensation as a strategic weapon to gain market share through mind share. Callidus enables enterprises to align the behaviour of sales people, employees, distributors, retailers and channel participants to corporate objectives and shareholder value. Callidus’ product suite, led by TrueComp and TruePerformance, extends the benefits of EIM from sales and channels to all employees, resulting in a dramatically increased return on investment. Callidus’ EIM suite is easy to access, use and manage, allowing the right people to be paid the right amount, on time, every time.


About Callidus Software Inc.

Callidus Software http://www.CallidusSoftware.com , the leading provider of enterprise incentive management (EIM) solutions, boosts business results through effective management of a company’s total compensation - from traditional variable compensation to base salary, stocks and MBOs - Callidus Software’s EIM software automates the entire compensation process including design, access, plan modifications, forecasting and dispute resolution. Callidus’ flagship product, 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. Additional products within the Callidus EIM suite include TruePerformance, TrueClaims and TruePortal. Callidus Software’s EIM suite provides precision, trust and understanding to successfully reward revenue-boosting behaviour and optimise 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, and Goldman Sachs Group. Customers/Partners include Airborne Express, Inc., The Alexander Group, British Sky Broadcasting, CUNA Mutual, DIRECTV, Dun & Bradstreet, Electronic Data Systems Corporation, IBM, Juniper Networks, Inc., Novell, Accenture LTD., AOL Time Warner Corporation, Pennsoil-Quaker State Company, Sun Microsystems, Telstra, US Bancorp and VERITAS, Inc.



© 1998-2003 by Callidus Software, Inc. Callidus Software, the Callidus Software logo and TrueComp are registered trademarks and TrueComp Manager, TrueComp Modeler, TrueComp Viewer, TrueChannel, TruePerformance, TrueIntegration, TrueDiagnostics, TrueAnalytics, TrueService, TrueSupport, TruePortal, and Everyone Profits are trademarks of Callidus Software, Inc. in the United States and other countries. Other trademarks are the property of their respective holders.


Contact:


Callidus Software, Ltd.

David Blume

+44 (0) 1344 666029

dblume@callidussoftware.com



Wendy Marshall, PR Consultant

+44 (0) 20 8560 1437

wendy@wmpr.com








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