First and Only Sales Compensation / Sales Performance Management Vendor To Be Recognized as a SAS-70 Type II Service Provider
BURLINGTON, MA – Centive, the leader in on-demand sales performance management, today announced it has successfully completed an American
Institute of Certified Public Accountants (AICPA) Statement on Auditing Standards No. 70 (SAS 70) Type II audit by Ernst & Young. Centive is now the first and only on-demand sales compensation / sales performance management vendor to be recognized as a SAS-70 Type II service provider.
“Centive has always been committed to helping support our customer’s Sarbanes-Oxley (SOX) compliance efforts by ensuring the highest levels of security and process controls related to managing sales compensation data,” said Michael Torto, CEO of Centive. “As more companies turn to on-demand solutions, there is an increasing awareness that vendor selection may impact the success or failure of their compliance efforts. With the completion of the SAS 70 Type II audit, Centive once again demonstrates market leadership and a commitment to maintaining the necessary safeguards to support our customer’s Sarbanes-Oxley initiatives.”
In a recent entry on his “THINK IT Services” blog, Jeffrey Kaplan, Managing Director at THINKstrategies, predicts that one of the reasons on-demand services will soar in 2008 is because a growing number of software-as-a-service (SaaS) companies like Centive are able to offer the security and process controls needed to fully support SOX compliance initiatives for their customers.
“A year ago, most publicly traded companies and other large-scale enterprises rejected the idea of SaaS because they thought they needed to take greater responsibility for their own compliance requirements,” said Jeff Kaplan, THINKstrategies. “Now, they view the process controls, auditability and offsite hosting features available in SaaS applications like Centive Compel as a perfect solution for their Sarbanes-Oxley (SOX) needs.”
The SAS 70 Type II report is internationally recognized as the authoritative benchmark of the American Institute of Certified Public Accountants against which service providers report control activities and processes to customers and their auditors. The Type II form of SAS 70 examination is the most stringent form; it not only includes the service organization’s description of controls related to information technology and security processes, but also includes detailed testing of these controls over a minimum six-month period.
About Centive
Centive, headquartered in Burlington, MA, is the recognized leader in on-demand sales performance 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 CODiE award for “Best Financial Software,” the CRM Excellence and Product of the Year awards from Customer Inter@ction Solutions, and the CRM WizKids Award from Beagle Research. To learn more about Centive, please visit www.centive.com or call 1-877-CENTIVE.
