BURLINGTON, MA, April 3rd, 2007 – Centive, the leader in on-demand strategic sales compensation management, today announced record bookings in Q1 2007 of its flagship product Compel®, the company’s award-winning sales compensation management solution. In addition, Centive experienced a 100% subscription renewal rate amongst eligible existing customers, and supported a record number of customers in paying their first commission payroll with Compel.
“We had phenomenal success in the first calendar quarter, and that success is due in large part to the support our current customers provide in terms of references and testimonials,” said Michael Torto, president and CEO, Centive. “Compel is a great on-demand sales compensation solution, but that is only part of the equation. Centive’s focus on customer care, and the advocacy that creates throughout our customer base, is key to the rapid growth we’ve been experiencing over the past several quarters.”
In Q1 2007, Centive increased the total number of Compel customers by 27%. New customer acquisitions increased by 220% over the same period in 2006. A sample of the many new customers selecting Compel in Q1 includes well known brands such as ChoicePoint, Obagi, Trend Micro, Anritsu, Salary.com and C-COR.
“Company-wide, we understand the fundamental role that sales compensation plays in helping us meet and exceed our sales and revenue targets,” said Larry Richards, Director of Global Sales Operations at C-COR, a top tier technology provider to the broadband communications industry. “After a thorough evaluation of a number of vendors and solutions, it was clearto us that not only was Compel the best solution for C-COR, but also that Centive’s people demonstrated the highest level of knowledge, experience and commitment to understanding our requirements.”
In addition to record bookings, Centive supported a record number of customers in making their first commission payroll using Compel in Q1 2007, increasing the number of live customers by 38% over the prior quarter. A sample of live customers leveraging Compel to automate sales compensation in Q1 includes Insight/Software Spectrum, VeriCenter, InfoGenesys, SPX and Drager Medical.
“We had an aggressive timeline for deploying new, complex sales compensation plans in Compel,” said Florian Kluge, Senior Director of Finance for Draeger Medical, Inc. (US), a global leader in medical equipment manufacturing. “Centive’s people did an outstanding job working with our internal team to meet that timeline and put Compel into production on schedule. Now that we’re paying commissions with Compel, feedback from our field sales team has been very positive with regard to visibility into the commission process and access to earnings and performance information.”
Additional first quarter achievements include:
·Initiation of SAS 70 Type II Audit Process: Centive hired Ernst & Young in Q1 to initiate a SAS 70 Type II audit of internal controls. This audit will supplement the SAS 70 Type II reports Centive has provided with their hosting partner, CSC, since June 2005. While other sales compensation vendors have indicated their intention to begin an internal audit process, Centive has once again demonstrated leadership by being the first vendor to begin the Type II audit process.
·Executive partnership with salesforce.com: Centive continues to gain momentum in partnering with salesforce.com, as more companies choose the AppExchange certified deployment of Compel within the salesforce.com user interface. In March 2007, Centive named Frank Ernst as General Manager, AppExchange Business Solutions to ensure continued focus and momentum and to provide executive level ownership of this key partnership.
·New Viral Marketing Campaign: Following on the success of Centive’s award-wining animation, Bic-Bac™, the company launched a new series of animations under the theme “Commissions, Comedy & Chaos.” The first two vignettes in this four-part series launched in Q1 at www.centive.com/parodies.
About Centive
Centive, headquartered in Burlington, MA, is the recognized leader in on-demand strategic sales compensation management. Companies use Centive Compel, hailed by CIO Magazine as the “most widely used choice for sales compensation management,” to accurately model and forecast commission costs, calculate commission and bonus earnings and gain real-time visibility into sales performance metrics. Compel, a salesforce.com AppExchange certified solution, is a winner of the 2006 CODiE award for “Best Financial Software,” the 2006 CRM Excellence award from Customer Inter@ction Solutions, and the 2007 CRM WizKids Award from Beagle Research. To learn more about Centive, please visit www.centive.com or call 1-877-CENTIVE.
# # #
Compel and From Prospect to Paycheck are registered trademarks or trademarks of Centive, Inc. All other company or product names are or may be trademarks of their respective owners.
