Callidus Software, Inc. (NASDAQ: CALD), doing business as CallidusCloud®, is the global leader in cloud-based sales, marketing, learning and customer experience solutions. The company’s proprietary suite of business offerings enables customers to identify leads, ensure proper distribution, enable sales forces, automate price quoting and streamline sales compensation in order to secure larger deals in less time. The company’s current customer base, which includes over 3,900 leading organizations in a variety of industries, relies on Callidus to optimize the lead-to-money process, opening the door for more revenue on an accelerated schedule.
By automating key portions of the marketing and sales processes, Callidus addresses the historical divide between the two vital business components. This groundbreaking approach to increased market share has helped the company achieve a host of recognition from the industry. In 2014, Callidus was awarded the ‘Cloud Computing Product of the Year Award’ by Cloud Computing magazine, as well as named ‘Best New Product – Financial Services’ at the International Business Awards℠, for its lead-to-money suite.
In the first quarter of 2015, Callidus built on this industry recognition by posting impressive financial results. Benefitting from the continued success of its product suite, the company recorded total revenue of $39.7 million, which was a substantial 28 percent year-over-year improvement, as well as a 37 percent year-over-year increase in SaaS revenue.
“I was pleased with our focus on execution in [the first quarter],” Leslie Stretch, president and chief executive officer of Callidus, stated in a news release. “In a busy quarter when we moved our headquarters and conducted a successful secondary offering we achieved record revenues and record recurring revenues. We beat both our cloud revenue growth percentage and total revenue guidance.”
Callidus is in a strong position to continue expanding upon its recent financial performance in the future. According to a report by MarketsandMarkets, the current value of the sales performance management (SPM) software market is estimated to be approximately $2.48 billion, and the sector is expected to grow to $5.62 billion by 2020. As businesses around the globe continue to shift from spreadsheets to the cloud, the company’s groundbreaking lead-to-money suite should present Callidus with an opportunity to promote strong market growth.
“The growth in the SPM market is driven by customers… who are looking to advance beyond traditional ineffective sales methods encumbered by spreadsheets,” Eric Brown, Callidus’s senior vice president of sales, stated. “The benefits of a modern, customer-centric selling solution are huge.”
For prospective shareholders, the near limitless market potential of the company’s software suite makes Callidus an intriguing investment opportunity moving forward.
For more information, visit www.calliduscloud.com
