Sterling-Hoffman Selects Centive Compel to Automate Global Incentive Compensation Management
Centive Compel to Support Global Pay-for-Performance Initiative
BURLINGTON, Mass., February 28, 2006 - Centive, the leader in on-demand sales compensation management, today announced that Sterling-Hoffman - the pre-eminent retained search firm for emerging software companies that require the highest performance sales, marketing and business development executives in the industry - has chosen Centive CompelTM to automate incentive compensation management for its global team of executive-search consultants. Compel was chosen after an extensive evaluation process that included traditional EIM products and newer on-demand sales compensation solutions.
Sterling-Hoffman, with offices in Toronto, Ontario, Boston, MA, Williamsville, NY, and Mountain View, CA, is rapidly growing and expanding its practice worldwide. The company required a centralized incentive compensation management system that would support global growth and provide its Researchers, Associates, Principals, and Practice Leaders with visibility into attainment and performance data to ensure a motivated, aligned and focused delivery organization.
"This is a critical move for Sterling Hoffman and it comes after reviewing all the major players in the incentive compensation management space," said Angel Mehta, Chief Executive Officer of Sterling Hoffman. "We chose Compel because it is clearly the most intuitive system for managing our compensation plans and because their interactive dashboards provide the best snapshot of real-time performance data for our recruiters. But what really sold us were the people at Centive; they demonstrated a level of commitment and transparency throughout the evaluation process that was unmatched by any of the other vendors we evaluated."
"Angel Mehta understands the critical link between pay and performance, and recognized that Compel offers the best solution for automating commission management and leveraging incentive compensation to drive a performance-based culture," said Michael Torto, president and CEO of Centive. "Compensation management is a huge issue for Executive Search firms because most of their employees derive fifty percent or more of their total compensation from variable pay. We are pleased that after such an extensive review of the market, Compel emerged as the obvious choice for Sterling-Hoffman."
Centive Compel automates sales compensation management and provides the accuracy, IT-independence and real-time visibility into sales performance metrics lacking in home-grown and Excel-based sales compensation systems. As an on-demand subscription-based service, Compel is affordable - there is no software or hardware to purchase and maintain - and it is easy to set-up, learn and use. In addition, Compel provides a complete audit trail of all changes made to plans and data as well as the security and process controls needed to support Sarbanes-Oxley compliance initiatives.
Compel features integration with Salesforce.com and other leading CRM systems to enable sales representatives and executives to forecast commission earnings based on pipeline opportunities. Companies are provided with full automation of the sales lifecycle - From Prospect to PaycheckTM - and the ability to leverage sales commission as a strategic tool to drive desired sales behavior and results.
About Sterling-Hoffman
Sterling-Hoffman is a management consulting firm that represents venture capital firms and their portfolio software companies in matters of executive search and corporate development. The firm has over 200 employees worldwide and specializes in recruiting sales & marketing executives. Sterling-Hoffman's monthly business journal for venture investors, entrepreneurs, and senior executives reaches over 120,000 readers in the enterprise software industry. For more information, email Krista Fost, Vice President of Marketing: Krista@sterlinghoffman.com or visit Sterling-Hoffman's website at: http://www.sterlinghoffman.com
About Centive
Centive, a privately held company headquartered in Burlington, Mass., is the leader in on-demand sales compensation management. Companies use Centive Compel to accurately calculate commissions and bonuses and gain real-time visibility into sales performance metrics. As an on-demand subscription service, Compel is a cost-effective solution that allows executives to be strategic and sales reps to stay motivated and focused on selling. To learn more about Centive, please visit www.centive.com or call 1-877-CENTIVE.
