Centive Achieves Record Growth in Q3 2006
Leading On-Demand Sales Compensation Solution Provider Experiences 116% Increase in New Subscribers
BURLINGTON, Mass., October 4, 2006 - Centive, the leader in on-demand strategic sales compensation management, today announced that it achieved record growth in Q3 2006 as companies continue to recognize Compel®, Centive's award-winning sales compensation management solution, as the best choice for automating their sales compensation processes.
"Finance and sales executives at small and mid-sized companies have long recognized the challenges and inefficiencies of managing sales compensation on home-grown, spreadsheet-based systems, but until the introduction of Compel in May 2005, there were simply no other affordable alternatives," said Michael Torto, president and CEO at Centive. "Today, these executives recognize that Compel is the only affordable subscription-based solution for automating sales compensation management, supporting financial compliance initiatives, and modeling and forecasting commission costs. Compel provides executives the ability to elevate the sales commission process to a strategic level to maximize sales performance and top-line revenue."
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.
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.
Key third quarter achievements include:
New customer acquisition: Centive increased the number of new subscribers in Q3 by 116% over new subscribers in the prior quarter and by 195% over new subscribers in Q3 2005.
Customer deployments: Centive, along with partners like Compensation Technologies and Thiekos, completed a record number of Compel deployments, increasing the number of live subscribers by 93% over Q2.
Successfully introduced "Compel Express": Launched in August, Centive's turn-key service for companies with fewer than 50 sales representatives quickly led to several wins and full deployment in as little as three business days.
100% focus on the on-demand business model: Centive successfully divested CompCentral, Centive's legacy EIM solution, in September. Centive is now 100% focused on maintaining its leadership position in sales compensation management and expanding its solution set to include other high-value on-demand solutions for Centive's customers.
"Sales compensation management is really a green-field market for vendors like Centive that deliver an affordable, on-demand solution for automating a process that is poorly managed by most small and mid-sized business today," said Denis Pombriant, managing principle at Beagle Research. "Companies get a lot of value from solutions like Compel that provide strategic value by linking CRM, ERP, sales compensation and other technologies within a sales operations web to automate the lead to cash process."
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 is featured in the Gartner case study "On-Demand Sales Compensation Proves It's Value." In addition, 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.
