Q1 2006 Business Surges For Centive, Confirming Leadership Position in On-demand Sales Compensation Management
Centive Adds Over 2000 Subscribers and Major Strategic Partnerships
BURLINGTON, Mass., April 17, 2006 - Centive, the leader in on-demand sales compensation management, announced today that it has achieved record sales in the first quarter of 2006 with the addition of over 2000 subscribers to CompelTM - Centive's leading on-demand sales compensation management solution. Moreover, the company formed key alliances with industry-leading CRM and IT consulting providers throughout the United States such as Theikos and Profiling Solutions.
In the last quarter alone, Centive has closed deals with over a dozen leading organizations, including Flowserve, a $2.4B recognized leader in providing industrial flow management products and services; Software Spectrum, one of the world's leading, single-source providers of business-to-business IT solutions and services; NaviSite, a leading provider of IT hosting, outsourcing and professional services for mid- to large-sized organizations; and Sterling Hoffman, the pre-eminent retained search firm for emerging software companies; to name just a few.
Commenting on the recent growth, Centive's CEO Mike Torto stated, "The first quarter of 2006 proved to be a critical inflection point for our on-demand sales compensation business. We have closed major deals with leading companies in multiple vertical industries, increased our average subscription with customers to 22 months, moved 7 companies into live production in less than 4 weeks and delivered an AppExchange version of Compel for Salesforce.com customers and prospects. Pretty impressive to say the least! Furthermore, Centive has been featured on all three national television network news programs in stories highlighting our rapid growth as a technology company. Finally, Compel has been nominated for two prestigious awards - the CODiE award and the eWeek Excellence award."
Centive 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 just calculating accurate commission and bonus payments; it also provides the real-time visibility, flexibility and scalability organizations need to leverage sales compensation as a strategic sales performance management tool. In addition, Compel features integration with Salesforce.com and other CRM systems to enable sales reps and managers to forecast compensation based on opportunities within their pipeline. This integration provides Centive's customers with full automation of the sales lifecycle - From Prospect to PaycheckTM - to ensure that sales reps stay focused, aligned and motivated to close the right business.
Centive Compel was recently named a 2006 CODiE award finalist in the "Best Financial Software" category as well as 2006 eWeek Excellence Award finalist in the "Business Relationship Management" category. The CODiE award, presented by the Software and Information Industry Association (SIIA), represents the highest honor in the software and information industry and is the only peer-recognition program of its kind. The eWeek Excellence awards honor the most innovative and relevant enterprise hardware, software and services announced in 2005 and available by the end of the first quarter of 2006.
About Centive
Centive, headquartered in Burlington, MA, 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.
