Callidus Software Partners With Variable Compensation Leader Synygy; To Provide End-To-End In-House Solutions Using TrueComp.SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif.--(BUSINESS WIRE)--Dec. 15, 1999-- Callidus Software, Inc., the business performance systems company, today announced a strategic implementation partnership with Synygy, Inc., the leading incentive compensation implementation and management outsourcing solution provider. The agreement confirms the growing market demand for packaged pay-for-performance software and services. Synygy will implement Callidus Software's TrueComp for clients who want an in-house variable compensation management solution. Customers who select Callidus Software's TrueComp can now utilize Synygy's extensive incentive compensation implementation and management knowledge base to implement the TrueComp suite quickly and cost effectively. "We are delighted that Synygy, the leader in outsourced pay-for-performance compensation management, has chosen to partner with Callidus Software to implement on-site, packaged software solutions," said Reed Taussig, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Callidus Software. "The leading incentive compensation company teaming with the leading business performance systems company validates the explosive market demand for enterprise variable compensation solutions." Synygy has implemented hundreds of incentive compensation plans and currently manages the plans for over 20,000 participants at major corporations, including American Home Products, Fleet Mortgage, Johnson & Johnson, DuPont and Sun Microsystems, Inc. The company has been named one of the fastest growing privately held companies privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. in America by Inc. Magazine in each of the last three years. "The strategic implementation partnership with Callidus Software allows Synygy to broaden its range of pay-for-performance solutions, including meeting the needs of those companies that want the benefit of our unmatched experience, but prefer an in-house, packaged software solution," said Mark A. Stiffler, Synygy's president and CEO. "TrueComp allows us to expand the range of solutions for managing constantly changing and increasingly complex incentive compensation plans." About TrueComp TrueComp, the variable compensation management system, is designed to address the complete variable compensation management process, from assessing and refining the effectiveness of incentive plans in meeting business objectives, to ensuring accurate compensation payments to sales personnel. It features three user modules: TrueComp Modeler for prototyping compensation plans, TrueComp Manager for administering compensation programs and TrueComp Viewer for reporting and performance analysis. Pricing for TrueComp starts at $350,000 for managing compensation plans for up to 400 payees. About Synygy Synygy (www.synygy.com), The Incentive Compensation Co.(TM), helps companies turn incentive compensation plans into a strategic advantage. Founded in 1991, Synygy, the only company that offers a business process outsourcing Business process outsourcing (BPO) is the contracting of a specific business task, such as payroll, to a third-party service provider. Usually, BPO is implemented as a cost-saving measure for tasks that a company requires but does not depend upon to maintain its position in solution, has implemented more incentive compensation plans than any other company and currently manages the plans for dozens of the world's largest corporations. Based in Bala Cynwyd, Pa., Synygy has been recognized on the Inc. 500 for the past three years and on the Philadelphia Business Journal's Philly 100 for the past five years. For more information, please contact Bob Lis at 610/664-7433, ext. 7165, or via email at lis@synygy.com. About Callidus Software Callidus Software (http://www.CallidusSoftware.com) is a San Jose-based company delivering a new class of enterprise application software called business performance systems (BPS (Bits Per Second) The measurement of the speed of data transfer in a communications system. 1. BPS - Basic Programming Support 2. bps - bits per second ). BPS software helps corporate finance executives boost top- and bottom-line corporate performance through accurate and timely variable resource program management, including variable compensation, sales commissions and trade promotions to channel partners. Callidus Software was founded in 1996 and is privately backed by The Alexander Group, Crescendo Ventures, Crosspoint Venture Partners, ONSET Ventures, Goldman Sachs Group, and Transamerica Technology Finance. Customers include America Online (NYSE NYSE See: New York Stock Exchange :AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. ), Cadence Design Systems (company) Cadence Design Systems - A company that sells electronic design automation software and services. http://cadence.com/. See also Verilog. (NYSE:CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. ), Dun & Bradstreet (NYSE:DNB DNB Dictionary of National Biography DNB Drum N Bass (music) DNB De Nederlandsche Bank DNB Dun & Bradstreet (stock symbol) DNB Den Norske Bank DNB David Nelson Band ), Newbridge Networks (NYSE:NN), Netscape Communications (NYSE:AOL), Sun Microsystems (Nasdaq:SUNW SUNW Sun Microsystems, Inc (former stock symbol; now JAVA) SUNW Stanford University Network Workstation (Sun Microsystems, Inc) ), Sybase Inc. (Nasdaq:SYBS) and Rhythms NetConnections Inc. (Nasdaq:RTHM). |
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