Callidus Software the only company to receive a positive rating
Bracknell, Berkshire, UK February 5, 2004 – Callidus Software Inc. (Nasdaq: CALD), the industry leader in Enterprise Incentive Management (EIM), today announced that Gartner rated the company as “positive” in its MarketScope: Sales Incentive Compensation, 1H04 – research released by Gartner vice president and research director, Joe Galvin on January 28, 2004. Of the six vendors listed, the MarketScope research listed Callidus Software as the only company to receive a ‘positive’ rating.
Evaluation criteria for Gartner’s MarketScope research, which reviewed players in the incentive management space, focused on four primary areas: financial viability and market commitment, functionality and vision, market interactions, and market momentum.
“Incentive compensation management is definitely a high growth market right now,“ noted Joe Galvin in the report. “Businesses are starting to recognize that by implementing these solutions, corporations are able to directly impact the bottom line through accurate forecasting, timely information and the ability to audit. This is particularly relevant for vertical industries such as insurance, banking, telecommunications and manufacturing.”
The MarketScope findings noted that the incentive management market was poised for significant growth. Over the next two years, Gartner estimates that 25 percent of sales organizations (with 500 employees or more) will evaluate and select a packaged sales ICM application to replace a homegrown system. The report also stated, “This market has moved beyond potential to proven performance. This is clearly demonstrated by the variety of large, multi-vertical, complex enterprises in production that have achieved their objectives.”
“We are extremely pleased by Gartner’s findings and their thorough analysis of the market,” stated Reed Taussig, Callidus Software CEO. “Not only for our own recognition, but equally important, is the fact that it calls attention to an area that is increasingly relevant to Fortune 1000 Enterprises. The process of calculating and accruing variable costs such as sales compensation and channel incentives is complex, and with the issue of corporate governance an increasing concern for large companies, it is more important than ever to ensure that reporting and auditing are accurate. It is estimated that errors in sales compensation can be as high as 10 percent of a company’s revenues, and with Sarbanes-Oxley, it becomes not only a matter of wasted money, but federal law. We are proud to be providing the leading solution that effectively addresses these issues.”
About Callidus Software
Founded in 1996, Callidus Software (http://www.CallidusSoftware.com) is a leading provider of enterprise incentive management (EIM) systems to global companies across multiple industries. Callidus' EIM systems allow enterprises to develop and manage competitive incentive compensation linked to the achievement of strategic business objectives. Through its TrueComp® Grid architecture, Callidus delivers the industry’s only EIM solution that combines the power and scalability of grid computing with the flexibility of rules-based interface. Customers/Partners include Airborne Express, Inc., Allstate, Apple Computer, AOL Time Warner Corporation, AT&T Wireless, BMC Software, Citizens Bank, CUNA Mutual, DIRECTV, Dun & Bradstreet, IBM, Intuit, JP Morgan Chase & Co., Pennzoil-Quaker State Company, SBC Communications and Sun Microsystems. Callidus is publicly traded on the NASDAQ under the symbol CALD.
ã 2004 by Callidus Software Inc. All rights reserved. Callidus Software, the Callidus Software logo, Everyone Profits, TrueChannel, TrueComp, TrueInformation, TruePerformance, TrueReferral, and TrueResolution are trademarks of Callidus Software Inc. All other trademarks are the property of their respective owners.
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