N@N

New Business Win: CoBiz Financial Selects Callidus Monaco On-Demand to Optimize Employee Performance

^{Published on 2010-07-13 04:10:35 - Market Wire}
 

SAN JOSE, CA--(Marketwire - July 13, 2010) - Callidus Software Inc. (NASDAQ: [ CALD ]), the leader in Sales Performance Management (SPM), today announced that CoBiz Financial Inc. (NASDAQ: [ COBZ ]) has selected Callidus Monaco's Objective Management solution to develop and manage its management by objectives (MBO) programs. Under the agreement, signed in the second quarter of 2010, CoBiz Financial will deploy Callidus Objective Management across multiple Commercial Banking branches, in addition to its back office, including IT, operations, finance, and human resources. In doing so, CoBiz Financial replaces its former, legacy solution with Callidus' best-in-class incentive and rewards management solution and bonus calculation engine.

"Driving the right behaviors across our organization to ensure the successful execution of our key business objectives is mission critical to our ability to stay competitive in our market," said David Pas, CIO at CoBiz Financial. "We need a solution that provides a high degree of control over designing our performance objectives, as well as modeling complex bonus structures to effectively drive those objectives through diverse departments and job functions. We chose Callidus Objective Management because the solution is flexible enough to effectively model the key performance measures and bonus structures the business needs, without compromising ease of deployment and administration for our business users."

"We are very excited to see new customers deploying Callidus Objective Management across departments to drive true business alignment," said Lorna Heynike, senior vice president of marketing at Callidus Software. "Harnessing the power of incentives to motivate and reward behaviors that drive key performance indicators has always been a core component of our customers' sales forces and channel partners successes. By orchestrating these programs across all departments, companies can build real internal collaboration and mobilize their workforce to execute measures that are critical to the business, whether based directly on company results or on the supporting activities that drive those results."

Callidus Objective Management enables organizations to design and deploy corporate, department, and individual pay-for-performance initiatives to every employee to consistently and reliably deliver on business results. The solution enables managers and employees to collaborate, set, and reward key strategic measures, then evaluate those measures over time for their relative importance in contributing to the business' success. The application also provides a comprehensive analytics framework, delivering up-to-date information to key stakeholders on individual, team, and department performance against objectives. Callidus Objective Management supports both cash and non-cash rewards.

Callidus Software's award-winning solutions manage the entire sales talent lifecycle from on-boarding, to incentives and rewards, to talent development, while providing visibility into sales operations and financial performance. This gives customers the ability to align their sales force and channels with their key business objectives to consistently and reliably execute on sales targets. The software is used by leading companies in a broad range of verticals including high-tech, telecommunications, banking, insurance, and pharmaceuticals. Since its inception nearly 15 years ago, the company has evolved into the most experienced, proven, and reliable SPM vendor in the marketplace. Callidus Software manages over $50 billion in incentives and compensation for more than two million payees in over 140 countries.

About Callidus Software®

Callidus Software (NASDAQ: [ CALD ]) is the market and technology leader in Sales Performance Management (SPM). Callidus customers gain a competitive advantage by maximizing sales cost efficiencies and driving improvements in sales effectiveness. Our award-winning Software-as-a-Service (SaaS) applications set the standard for performance management of a company's sales force and channel partners. Over 2 million employees and channel partners have their performance managed by Callidus Software. For more information, please visit [ www.callidussoftware.com ].

© 1998-2010 Callidus Software Inc. All rights reserved. Callidus Software, the Callidus Software logo, and TrueComp Manager are trademarks, service marks, or registered trademarks of Callidus Software Inc. in the United States and other countries. All other brand, service or product names are trademarks or registered trademarks of their respective companies or owners.