CallidusCloud Acquires Next Generation Revenue and Commissions Cloud Technology to Complete Lead to Money Solution for ASC 606

May 23 20:05 2017 Print This Article

DUBLIN, Calif., May 24, 2017 (GLOBE NEWSWIRE) — Callidus Software Inc. (NASDAQ:CALD), a global leader in cloud-based sales, marketing, learning and customer experience solutions, announced today that it has acquired RevSym, a brand new cloud solution focused on the management of revenue and incentives in the new world of ASC 606. RevSym is a key addition to the Lead to Money suite and is vital for public and private companies across the globe. RevSym is the only pure cloud solution that takes into account the commissions aspect of the process. Other solutions are services heavy and a mixture of on premises and hosted. The powerful combination of RevSym and CallidusCloud’s leading Commissions, Configure Price Quote and Contract Lifecycle Management solutions will enable customers to optimize their critical revenue and commission processes to streamline compliance with the new ASC 606 accounting rules.

“RevSym is the missing link in Lead to Money. The relationship between sales commissions and revenue management, under the new ASC 606 rules, means companies must implement rigorous new processes to remain fiscally compliant. Today most companies deal with the revenue problem, only,” said Giles House, EVP and Chief Product Officer, CallidusCloud. “Many large enterprises are using manual processes or poorly executed automation software that is mostly on premises. Using RevSym to automate these processes in the cloud, especially the costs related to commissions over customer lifecycles, will save time and money and create a powerful data environment that can be analyzed to provide effective insight for finance and sales operations.”

“Our pure-play cloud solution comprehensively addresses the requirements of ASC 606. Under the umbrella of CallidusCloud’s proven multi-product Lead to Money business, we can meet the needs of large scale customers who need automation now, to prepare for the impending rule changes and the impact to sales commissions,” said Seshu Chilukuri, Chief Technology Officer, RevSym. “Connecting quotes, contracts and commissions to revenue under the new rules is a unique innovation that customers expect from a market leader.”

For more information about RevSym please visit www.revsym.com

About CallidusCloud
Callidus Software Inc. (NASDAQ:CALD), doing business as CallidusCloud®, is the global leader in cloud-based sales, marketing, learning and customer experience solutions. CallidusCloud enables organizations to accelerate and maximize their lead to money process with a complete suite of solutions that identify the right leads, ensure proper territory and quota distribution, enable sales forces, automate configure price quote, and streamline sales compensation — driving bigger deals, faster. Approximately 5,400 leading organizations, across all industries, rely on CallidusCloud to optimize the lead to money process to close more deals for more money in record time.

©2017 Callidus Software Inc. All rights reserved. Callidus, Callidus Software, the Callidus Software logo, CallidusCloud, the CallidusCloud logo, Clicktools, SURVE, syncfrog, TrueComp Manager, ActekSoft, ACom3, iCentera, Webcom, Litmos, the Litmos logo, LeadFormix, Rapid Intake, 6FigureJobs, and LeadRocket are trademarks, service marks, or registered trademarks of Callidus Software Inc.

CONTACT: Media Relations Contact
Chris Bucholtz
CallidusCloud
925-251-2200
[email protected]
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Jonathan Yaniv
Jonathan Yaniv

Jonathan is the founder and editor-in-chief of TrustedNerd.com. Covering major tech shows such as CES, Jonathan is always there for the latest tech news. Want your gadget to be reviewed or have a release you'd like to be considered for publishing? Send Jonathan an email, jonathan [at] trustednerd.com

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