Systems/Enterprise:

CALLIDUS GRID SOLUTION GAINS MOMENTUM IN FINANCIAL SERVICES

Callidus Software Inc announced continued momentum in the financial services market, due to the increasing importance of optimized incentive compensation processes within financial institutions. Through its award-winning TrueComp software, Callidus processes millions of monthly transactions in incentive compensation payments for tens of thousands of payees within premier banking institutions, such as Citizens Bank, Key Bank, Bank of America and Development Bank of Singapore (DBS).

Financial institutions compete today in markets characterized by continued consolidation and constant introduction of multiple diverse products. These institutions are looking to expand their portfolios to offer customers a complete range of financial services. However, they are still struggling to manage multi-tiered distribution channels, increase cross-selling efforts for customer retention, and support their global services infrastructures. To address these needs, many financial organizations are leveraging EIM solutions that increase effectiveness of sales and distribution models, while providing new services to increase margins and drive profits.

"Banks and other financial institutions are increasingly realizing the measurable value of adding powerful, streamlined compensation management to their organizations," said Christopher Cabrera, senior vice president of Callidus Software. "They understand that when used correctly, compensation management can become a strategic tool for increasing market share and positively impacting top line revenue. Leading financial institutions have embraced Callidus' enterprise incentive management solution, because of the flexibility and scalability of our technology, our proven track record of success and our deep domain expertise."

As the leading provider of EIM technologies, Callidus Software optimizes critical functions in the management of incentive compensation processes. The TrueComp solution allows financial institutions to manage, analyze and automate compensation plans, giving better visibility into the performance of the organization, and compliance with industry standards and federal regulations such as Sarbanes-Oxley. With TrueComp, companies can increase their sales effectiveness by paying commissions accurately and on-time. They can also promote cross-sell and up-sell behavior through more effective compensation plans and data capture of referrals. In addition, TrueComp's ability to evaluate and quickly modify existing compensation plans based on changing market conditions gives financial institutions a much-needed competitive edge.

Callidus' Grid computing platform is specifically designed to address the needs of transaction and sales-heavy organizations like financial services. Its rules-based architecture facilitates change management at incredibly high speeds -- ideal for the inter-departmental cross over within banking institutions -- while its Web-based implementation helps retain a low investment model over time.