PLEASANTON, CALIF., Feburary 13, 2013 -Callidus Software Inc. (NASDAQ:CALD), a leading provider of hiring, learning, marketing and selling cloud software, announced today that Western & Southern Financial Group (Western & Southern), a leading financial services organization, has selected CallidusCloud's Commissions to manage the incentive compensation process for its wholesalers. The agreement was signed in the fourth quarter of 2012.
"The CallidusCloud® solution will make it easier to manage plan changes and updates while ensuring compliance throughout the entire compensation process," said Jill T. McGruder, CEO of Touchstone Investments and W&S Financial Group Distributors, member companies of Western & Southern. "Throughout the evaluation process, CallidusCloud demonstrated a solution that was both powerful and easy to use. The breadth of its product portfolio provides us with an opportunity to enhance the performance of our sales channels."
"Western & Southern Financial Group is in great company with many leading financial services companies realizing significant savings by using CallidusCloud," said Eric Brown, Senior Vice President, North America Sales, CallidusCloud. "Western & Southern will be using CallidusCloud's Commissions to manage compensation and bonus plans across its extensive wholesaler network."
CallidusCloud's Commissions enables companies to deploy targeted incentives and commission programs to drive sales execution. It provides businesses with the ability to automate the calculation and payment of commissions across internal and external sales. With extensive modeling and analytics capabilities, the solution provides clear insight into the performance of current plans as well as a highly accurate forecast of future performance. Sales operations and finance enjoy significant time and cost savings while sales teams enjoy faster, more accurate and more transparent commission payments.
Beginning as The Western and Southern Life Insurance Company in 1888 in Cincinnati, Western & Southern Financial Group (Western & Southern) is marking its 125th anniversary in business and is now a Fortune 500 diversified family of financial services companies with assets owned and managed in excess of $55 billion as of Dec. 31, 2012. Western & Southern's six life insurance subsidiaries (The Western and Southern Life Insurance Company, Western-Southern Life Assurance Company, Columbus Life Insurance Company, Integrity Life Insurance Company, The Lafayette Life Insurance Company and National Integrity Life Insurance Company) maintain the following financial strength ratings: Standard & Poor's AA+ Very Strong, A.M. Best A+ Superior, Fitch AA Very Strong and Moody's1 Aa3 Excellent. All of Western & Southern's life insurance companies have a Comdex Ranking of 97. Other member companies include Eagle Realty Group, LLC; Fort Washington Investment Advisors, Inc.;2 IFS Financial Services, Inc.; Peppertree Partners LLC, 2 Touchstone Advisors, Inc.;2 Touchstone Securities, Inc.;3 W&S Brokerage Services, Inc., 3 and W&S Financial Group Distributors, Inc. For more information on the Western & Southern family of companies, visit www.westernsouthern.com. Western & Southern is the title sponsor of the Western & Southern Open (www.wsopen.com) tennis tournament, a premier event in the U.S. Open Series featuring the world's top-ranked professional male and female players.
1 Lafayette Life is not rated by Moody's.
2 A registered investment advisor.
3 A registered broker-dealer and member FINRA/SIPC.
Ratings are current as of February 11, 2013, and refer to the claims-paying ability of the insurance company and not to the safety, stability or performance of any investment product. The Comdex is a mathematical ranking used to consolidate financial strength ratings from the four major rating agencies because each rating service uses a different scale. It ranks companies on a scale of 1 (lowest) to 100 (highest) in relation to other companies that have been rated by the rating agencies.
Callidus Software Inc. (NASDAQ:CALD), doing business as CallidusCloud, is a leading provider of cloud software. CallidusCloud enables organizations to drive performance and productivity across their business with our hiring, learning, marketing and selling clouds. From back office to the field, from desktop to mobile, we ensure organizations have the right tools to be more effective and perform better. The combined power of our clouds, our people, and our partners fuels growth, empowers the work force and delivers real value. CallidusCloud drives performance and productivity for over 1500 leading organizations. Small, medium and large enterprises across multiple industries and geographies rely on CallidusCloud for quicker hiring, simpler learning, better marketing, and smarter selling.