Callidus Software (News - Alert) announced that a recognized insurance leader has selected its Incentive Compensation Management (ICM) solution.
This insurance group has selected CallidusCloud to improve the management of their incentive payments, said Tom Davis, vice president of sales and marketing at Insurance, CallidusCloud.
CallidusCloud ICM integrates with existing systems and supports end-to-end automation of the business processes, limiting overpayment expenses and enabling support of corporate strategy in the commission and bonus plans.
In addition to delivering extreme automation in integration, the solution also plans configuration, producer management, payout calculation and communication. Touted as a highly configurable solution, it supports rapid deployment, ease of use and reduced operational complexity.
As part of the solution, the producer portal allows for delivery of payment and performance-related information through the Web or a Customer Relationship Management system, according to company officials.
Davis said that the insurance group will be using the ICM solution to derive significant financial and performance benefits by automating the way they process commissions and bonuses.
Company officials said that ICM features business intelligence; commission and incentive compensation; license and compliance; and onboarding. It enables creation of reports and queries on demand via business intelligence (BI) tool as well as delivers automation for incentive compensation in the organization.
The ICM solution supports tracking and validation of producer compliance data. In addition, it turns a paper and labor-intensive effort into a streamlined online process.
The Insurance group and CallidusCloud signed the agreement in the third quarter of 2012.
Callidus Software, doing business as CallidusCloud, is a provider of cloud software. It enables organizations to drive performance and productivity across their business with our hiring, learning, marketing and selling clouds.
Recently, Acteva (News - Alert), a worldwide provider of a Cloud-Based Registration, Payment and Management platform for Events & Training Programs, selected CallidusCloud's marketing automation solution.
Edited by Brooke Neuman