Callidus Software Inc. (NASDAQ: CALD), the leader in Sales Performance Management (SPM), today announced one of the world's leading financial services conglomerates has selected the Callidus Sales Performance Management suite, the Monaco release, to manage its incentive compensation programs. The agreement was signed in the third quarter of 2010.

"This new SaaS deal will provide services to one of the top retail banks in the world," said Leslie Stretch, president and CEO of Callidus Software. "The financial services market is extremely demanding. These institutions need to be highly responsive to market feedback and rapidly adjust and deploy new incentive regimes to a broad base, while operating in a heavily regulated environment. The Monaco on-demand suite is taking hold in this market because of its unmatched flexibility and scalability, without compromising on ease of use. The solution will enable the bank to easily model, deploy, and adjust a mix of targeted incentives and rewards which will immediately drive specific revenue and customer growth objectives."

Callidus Software's SPM suite, the Monaco release, delivers a 100% multi-tenant, SaaS solution that helps companies harness the power of incentives and rewards to drive sales effectiveness. The solution:

• Enables rapid deployment of commission-based incentive plans, MBOs (management by objectives), and bonuses to drive well-defined, go-to-market strategies
• Delivers a high degree of adaptability to enable real-time adjustments of incentives and payout curves based on market feedback
• Supports automated, real-time sales communications to accelerate new product and fiscal period rollouts
• Consolidates all sales results data in one place, and enables sales operations, finance, sales management, and agents to manage and track selling performance in real time with role-based portal and mobile access

"Once again Monaco is demonstrating the increasing appetite for SaaS SPM solutions in large financial services enterprises," said Lorna Heynike, senior vice president, marketing at Callidus Software. "Financial services enterprises are focused on executing projects that demonstrate a quick return on investment, while positioning the business to move forward at an accelerated pace as the economy recovers. The Monaco solution is a strategic investment that delivers immediate value through the rapid deployment of incentives that directly drive revenue and grow market share, while helping save money through reduced hardware, software, and IT overhead costs."

Callidus Software's SPM suite manages 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. 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.

©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.

Add to Digg Bookmark with del.icio.us Add to Newsvine

Press Contact:
Cheryl Hall
Callidus Software Inc.
925-251-2259
pr@callidussoftware.com