Callidus Software Inc., a leader in sales performance management (SPM), announced that it has received a "positive" rating in the latest MarketScope for Insurance Incentive Compensation Management (ICM) Applications¹ by Gartner, Inc., the world's foremost information technology research and advisory company.

Authored by Steven Leigh, the report, which was released on December 16, evaluated nine principal vendor applications for the global insurance market. In its research, Gartner's MarketScope report used the following five criteria for its evaluation: overall viability (business unit, financial, strategy and organization), product/service, sales execution/pricing, customer experience and vertical/industry strategy.

"We are honored to be acknowledged by such a highly acclaimed research firm," said Lorna Heynike, senior vice president of marketing at Callidus Software. "In my opinion, Gartner's 'positive' rating underscores our success in working with 40+ insurance customers to realize significant hard dollar savings with better control and flexibility of incentive plans and payments to producers and to rapidly on-board new producers, grow producer revenue and mindshare and ensure long-term producer loyalty."

The MarketScope report notes that, "Insurers should use insurance ICM applications to improve the timeliness, accuracy and transparency of commissions, bonuses, and other payments to brokers, as well as associated data management capabilities for managing producers." It also states that insurers' interest in ICM applications is "driven by increasing risks of legacy systems, incorrectly calculated commissions, the need to better manage complex distribution channels and hierarchies, a need for greater flexibility to meet changing business needs, and a need to keep up with competing compensation strategies."

Gartner clients may view the Gartner's MarketScope Report for Insurance Incentive Compensation Management Applications, at www.gartner.com.

Reference:

¹ Gartner, Inc., "MarketScope for Insurance Incentive Compensation Management Applications, 2009," by Steven Leigh, December 16, 2009.

This BeyeNETWORK news item contains information from a recent press release by the company mentioned.