N@N

New Business Win: Asia Pacific Financial Services Conglomerate Selects Callidus Software to Streamline Distribution Channel Man

^{Published on 2010-07-16 04:15:52 - Market Wire}
 

SAN JOSE, CA--(Marketwire - July 16, 2010) - Callidus Software Inc. (NASDAQ: [ CALD ]), the leader in Sales Performance Management (SPM), continues to demonstrate strong momentum in the financial services sector by announcing today that one of Asia Pacific's largest insurance and wealth management companies has selected the Callidus Channel and Compensation Management solutions to manage on-boarding, compensation, and performance for its rapidly growing distribution channels. The agreement was signed in the second quarter of 2010.

"Asia is one of the fastest growing markets for the financial services and insurance industry," said Jimmy Duan, senior vice president, Asia Pacific and Latin America at Callidus Software. "This new win underscores Callidus' ability to deliver large-scale distribution channel management solutions in this market, and ensures that Callidus is in pole position to meet the needs of high-growth Asia Pacific companies who require a flexible, adaptable, and scalable solution for distribution channel lifecycle management. At its core, the Callidus solution drives distributor performance through more effective incentive programs, improved agility to market changes, and increased long-term partner loyalty, while helping save money through reduced overpayments and leakage."

The company will deploy Callidus Channel Management, TrueComp® Manager, Reporting and Analytics, and Business Process Management software modules to manage more than 60,000 active agents throughout multiple countries in Asia, including China, India, Indonesia, Malaysia, the Philippines, and Thailand.

Callidus Software's award-winning solutions manage the entire sales and agent lifecycle from on-boarding, to incentives and rewards, to talent development, while providing visibility into sales operations and financial performance. With the proven flexibility and scalability to support hundreds to several hundred thousand sales professionals, the solutions streamline the modeling, design, administration, and analysis of sales and channel coverage, capacity, and incentives, helping sales and finance organizations bring a high degree of control and adaptability to their sales performance. With integrated analytics and reporting capabilities as part of the suite, the solution enables organizations to quickly deploy performance dashboards and reports across the sales force and distribution channels and provide up-to-date, transparent details on their performance and payments. The software is used by leading companies in a broad range of verticals including insurance, banking, telecommunications, pharmaceuticals, and high-tech. 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 ].

©1997-2010 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.