 |
|
DAILY NEWS AND INFORMATION
FOR THE GLOBAL GRID COMMUNITY /
|
Applications:
CALLIDUS INTRODUCES SUPPORT FOR
SARBANES-OXLEY COMPLIANCE
Callidus Software Inc, an industry leader in Enterprise Incentive
Management
(EIM), announced 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. Optimized for Sarbanes-Oxley requirements, Callidus' TrueComp
automates, standardizes 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."
Web services, utility computing, .NET, CPU harvesting and distributed
computing are just a few of the technologies that fall under the Grid
computing umbrella. Gt04 -- a premiere enterprise Grid computing conference
targeting industrial and commercial users -- will gather experts, and outline
strategies and road maps for Grid deployment. For more information, visit
www.gt04.com.
Grid computing is here!
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 authorization.
- 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."
|