Centive Announces Rapid Growth In Q4 2006, As Record Number Of Customers Choose CompelŪ
Subscriptions to the Most Widely Used On-Demand Sales Compensation Management Solution Increase by 570% in 2006
BURLINGTON, MA, January 9th, 2007 - Centive, the leader in on-demand strategic sales compensation management, today announced rapid growth in Q4 2006 as sales and finance executives continue to recognize Compel®, Centive's award-winning sales compensation management solution, as the best choice for automating commission accounting and reporting processes.
Key fourth quarter achievements include:
- New customer acquisition: Centive increased new subscribers in Q4 by 63% over new subscribers in the prior quarter and by 570% overall in 2006.
- Customer deployments: A record number of Compel deployments took place in Q4, representing more than 3,000 subscribers at companies like Pillar Data Systems, UT Starcom, CCH, Flowserve, McData, and ADIC/Quantum.
- Hiring increases: In order to support the company's rapid growth, Centive increased employee headcount by 120% in 2006, adding support, services, engineering and sales resources.
- Fall 2006 release of Compel: Centive announced the fourth release of Compel in November 2006, offering advanced reporting, enhanced executive analytics and automated document management with plan approval.
- Incentive programs: Centive announced MoreMentum, TM a program under which the company provides new customers with free personalized American Express Incentive Services (AEIS) cards for use with Compel's Spiff BuilderTM.
In addition to the aforementioned achievements, Centive also became one of the first companies invited to join Salesforce.com's new AppExchange incubator program. Centive has been a certified Salesforce.com partner since August of 2005.
"Centive continues to demonstrate outstanding momentum in the market as more and more companies recognize Compel as the best choice for automating sales compensation management" said Michael Torto, president and CEO at Centive. "Sales compensation has a direct and measurable impact on sales performance - companies have to get it right. Compel is the clear choice for managing this critical business process."
Compel is an affordable, on-demand sales compensation management solution that automates the entire sales compensation process in one secure, centralized system. Compel goes beyond simply calculating accurate sales commission and bonus payments; it also provides strategic value by enabling customers to model and forecast commission expense, optimize plan effectiveness, and drive sales performance and top-line revenue growth.
"We wanted to automate our sales compensation process with a system that was accurate, affordable and easy to use, and most importantly one that would support our financial compliance initiatives," said Stuart Kerst, Director of Global Sales Operations at Pillar Data Systems. "Centive Compel was the clear choice following our evaluation process, and now that it is deployed we know we made the right decision. Compel enables us to easily model and deploy sales plans and it keeps our sales team aligned and motivated by providing commission earnings and key performance metrics to the team via secure, interactive dashboards. Best of all, the people at Centive continue to demonstrate their commitment to our success with Compel."
More sales representatives subscribe to Centive Compel than any other on-demand, SaaS-based sales compensation management solution. By any measure, be it product functionality, product maturity, number of customers, average customer size, awards or analyst coverage, Centive continues to be the undisputed leader in the on-demand sales compensation space.
About Centive
Centive, headquartered in Burlington, MA, is the recognized leader in on-demand strategic sales compensation management. Companies use Centive Compel to accurately model and forecast commission costs, calculate commission and bonus earnings and gain real-time visibility into sales performance metrics. Compel was awarded the 2006 CODiE award for "Best Financial Software," the 2006 CRM Excellence award from Customer Interaction Solutions, and is a 2006 eWeek Excellence Award finalist. To learn more about Centive, please visit www.centive.com or call 1-877-CENTIVE.
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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.
