Delivers Tighter Process Control, Reduced Incentive Compensation Costs and Alignment of Incentive Expenditures to Shareholder Interests
Bracknell, Berkshire, UK - April 6, 2004 - Callidus Software Inc. (Nasdaq: CALD), the industry leader in Enterprise Incentive Management (EIM), announced today capabilities to help companies reduce the risk of non-compliance with Sarbanes-Oxley. Callidus is the only EIM provider to offer the internal process controls that companies require to improve their corporate governance environments with regards to incentive compensation management. Optimised for Sarbanes-Oxley requirements, Callidus’ TrueComp automates, standardises and documents the incentive compensation management process to align sales activities and use of corporate resources with shareholder interests.
“Sarbanes-Oxley requires companies to document the internal controls that have a bearing on the company’s financial reporting, so that management can certify and auditors can attest to the design and effectiveness of these controls,” said Michael A. Herman, principal of Deloitte Consulting LLP. “Incentive compensation is receiving a lot of attention due to questions around data integrity, the magnitude of the compensation dollars spent, the connectivity to a firm’s financial systems and the use of manual processes to develop and edit compensation plans, distribute compensation payments and track compensation transparently.”
The TrueComp solution supports compliance with Sarbanes-Oxley by improving the accuracy, predictability and auditability of incentive compensation management business processes. By automating these processes, TrueComp also provides tangible ROI by reducing overpayments that impact margins and profitability. Specifically, TrueComp provides:
· End-to-end commission and incentive payment processing, from sales transactions to AP system integration
· Secure workflow for processing, administration and approval of sales credits and compensation, including dispute resolution processes and exception handling
· Detailed documentation of sales plans and compensation rules
· Auditable records of changes to compensation plans, including when they were made and who provided the authorisation
· The capability to audit compensation history, even if compensation plans change
· Role-based security that controls access to information
· Tracking and processing of special bonuses and other exception payments
“Callidus’ TrueComp software reduces our risk of non-compliance with this important and high-profile legislation,” stated Henry Dear, Assistant Corporate Controller at Sybase, Inc. “Callidus provides the data transparency we need to control, document and audit our sales compensation process, with the added benefits of reducing compensation administration costs and aligning employee performance with our corporate objectives.”
“Sarbanes-Oxley is designed to protect shareholders by improving the accuracy and accountability in corporate financial disclosures,” said Brian E. Cabrera, vice president and general counsel for Callidus Software. “TrueComp delivers the double benefit of easing compliance efforts while simultaneously improving business returns through tighter process control, reduced incentive compensation costs, and better alignment of incentive expenditures to shareholder interests.”
About Callidus Software
Founded in 1996, Callidus Software (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 AOL Time Warner Corporation, AT&T Wireless, BMC Software, CUNA Mutual, DIRECTV, Dun & Bradstreet, IBM, JP Morgan Chase & Co., Pennzoil-Quaker State Company, SBC Communications and Sun Microsystems. Callidus is publicly traded on the NASDAQ under the symbol CALD.
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