WESTPORT, Conn., March 27, 2007 (PRIME NEWSWIRE) -- The Westport Software Group, developers of the leading Enterprise Incentive Management (EIM) platform Compensation Activity Tracking System (CATS(r)), marked an important six-year milestone in which CATS(r) has been in continuous use throughout the Fifth Third Bancorp footprint.
Fifth Third Bancorp (www.53.com), a diversified financial services company headquartered in Cincinnati, Ohio, ranked No. 28 on U.S. Banker's list of the Top 100 Banks of 2005. The Company has $100.7 billion in assets, and operates 19 affiliates with 1,157 full-service Banking Centers in 10 states throughout the Midwest and Florida.
"This six-year mark of CATS(r)'s deployment at Fifth Third Bancorp is a noteworthy achievement," said John A. Laurino, Westport Software Group CEO. "Fifth Third is known for its highly efficient use of technology to provide quality service at minimum cost. We are proud that CATS(r) is playing a part in the Bank's reputation for operational excellence."
"CATS(r) enables Fifth Third to keep pace with the velocity of change in their highly competitive markets by allowing the company to continually fine-tune their pay-for-performance programs across all lines of business," said Laurino.
"Fifth Third has done an admirable job in maximizing their enterprise-wide CATS(r) license. In addition, the Bank has established a record for driving down costs per plan participant by implementing CATS across 17 lines of business for 23,000 incentive plan participants from a single installation and instance of the CATS(r) application.
"Furthermore, we're proud that, in the six years CATS(r) has been deployed at Fifth Third, the application has never been out of service," he added.
About CATS(r)
CATS(r) has represented the leading edge of incentive compensation software design and administration since 1994. Since its inception in 1994 CATS(r) has been helping to transform incentive compensation into a strategic tool that aligns and motivates people, partners and channels across the extended enterprise. As the only comprehensive EIM software solution that guarantees to administer any incentive compensation plan without the need for off-line data preprocessing or application customization, it is the value leader among EIM platforms. All installed CATS licenses are perpetual with unlimited users, administrators and plan participants, resulting in the best total cost of ownership and best cost per participant in the EIM space.
About Westport Software Group
Formed from the software group of Westport Consulting Group, Westport Software represents over 17 years of cutting edge relational database design for several mission critical sales and marketing applications. Starting in 1990 with Enterprise, the most highly regarded marketing 'front end' interface for community and regional banks with their service bureaus, WSG went on to develop PMAPS(r), the managed healthcare and financial industry's proposal management standard, and finally CATS(r), the oldest and most successful family of incentive compensation applications for both designing and implementing complex plans for paying internal and external sales forces across the entire Fortune 5000 spectrum of companies. Additional information is available at www.westportsoftware.com.