Burlington, Mass. — Jan. 16
Centive, a provider on-demand strategic sales compensation management, announces its 10-year anniversary. Since its inception a decade ago, the company has remained focused exclusively on delivering technology solutions for automating incentive compensation management.
Its flagship product, Compel, is a widely used, on-demand sales compensation management solution on the market and has more than 10,000 subscribers, including companies such as IKON, UTStarcom, CCH, Flowserve, TREX and McData — organizations that recognize the strategic value of sales compensation management as a sales performance tool.
“Since its inception, Centive has been recognized for its vision, technology innovation and dedication to quality products and the highest levels of customer service,” Centivee CEO Mike Torto said. “Our ability to adapt to changing market conditions and new solution delivery models is evident in the success we enjoy today in terms of growth, customer retention and financial stability.”
Originally founded under the name “Incentive Systems” in 1997, Centive shipped its first product, INCENTIVE, in 1999 and introduced a new market category, Enterprise Incentive Management (EIM). The following year, industry analysts AMR Research and Aberdeen Group adopted this new software category name and issued reports recognizing the large market size.
Soon after, other thought leaders and technology providers adopted the EIM category name and began promoting EIM as a critical component of business strategy.
In July 2002, Incentive Systems launched Centive CompCentral, the industry’s first EIM platform to be deployed on a true internet architecture. As part of this launch, the company changed its brand from Incentive Systems to Centive.
In late 2004, the company announced its vision to offer the benefits of automated incentive compensation management to small and mid-market companies. That vision was realized in May 2005 with the launch of Centive Compel, the industry’s first on-demand, multi-tenant sales compensation management solution.
In recognition of its value and business benefits, Compel was honored with the 2006 CODiE Award in the “Best Financial Software” category and the 2006 “CRM Excellence” Award from Customer Inter@ction Solutions.
In September 2006, the company divested its legacy CompCentral business unit to focus 100 percent on developing and expanding its leadership position as an on-demand solution provider.
“Centive was one of the early pioneers in the sales incentive compensation management industry,” said Jim Dickie, CSO Insights managing partner. “The company’s transformation from a traditional application software company to a leading provider of on-demand SaaS demonstrates their continued innovation.”