TORONTO, Oct. 1 /CNW/ -- Varicent Software Incorporated, an innovator and provider of incentive compensation and sales performance management solutions won a coveted Companies-to-Watch Award, in one of four separate awards categories that make up the 2009 Deloitte Technology Fast 50(TM) Awards, the pre-eminent technology awards program in Canada.
The Companies-to-Watch Award honors early-stage Canadian technology companies. These companies exemplify many of the winning characteristics of Deloitte Technology Fast 50(TM) ranked companies, which are judged using a longer track record.
"Companies-to-Watch award winners frequently go on to score high rankings in the Deloitte Technology Fast 50 once they have a five-year track record," said John Ruffolo, National Leader, Technology, Media & Telecommunications Industry Group, Deloitte. "Varicent has quickly distinguished itself for its innovative technology and entrepreneurship and this award recognizes its potential as a leader in the Canadian technology industry."
Varicent's CEO, Dan Shimmerman, credits creativity and innovation combined with listening to customers in approaching the market and providing the company early stage success. Shimmerman said "Traditional vendors in the Sales Performance Management space focused on just Incentive Compensation Management or Enterprise Incentive Management. Varicent viewed these approaches as process automation and were limiting in terms of potential for business impact. Leveraging our team's years of experience in Performance Management we applied it to the incentive compensation market."
The company provides an innovative Sales Performance Management (SPM) solution which encompasses Incentive Compensation Management, Territory Management, Quota Planning and Sales Analytics. While managing and automating the process of calculating and reporting variable-based pay, Varicent SPM aligns sales performance with strategic objectives. Business users gain control over complex compensation plans, the assignment of territories, the collection and approval of quotas and the reporting and analyzing of sales performance.
Shimmerman continued "The Varicent solution addresses the business users' needs and the problems they are trying to solve. Our application is business owned from the start and provides our global customers with the speed, flexibility and visibility needed to manage their sales efficiencies and performance".
The majority of Companies-to-Watch winners are potential global leaders in technology sectors that didn't even exist five years ago. To win the award, companies must display the kind of management expertise and superior technology that mark a successful, early-stage company poised for continued growth.
About the Deloitte Technology Fast 50(TM)
The Deloitte Technology Fast 50(TM) program is Canada's pre-eminent technology awards program. Celebrating business growth, innovation and entrepreneurship, the program features four distinct categories including the Technology Fast 50(TM) Ranking, Companies-to-Watch Awards (early-stage Canadian tech companies in business less than five years, with the potential to be a future Deloitte Technology Fast 50(TM) candidate,) Leadership Awards (companies that demonstrate technological leadership in four industry subcategories: hardware/semiconductor, software, telecommunications and emerging technologies) and the Deloitte Technology Green 15(TM) Awards (Canada's leading GreenTech companies that promote a more efficient use and re-use of the earth's resources in industrial production and consumption.) Program sponsors include Deloitte, Gowlings, GrowthWorks, RBC, Wellington Financial, Stonewood Group, HKMB Hub, CATAAlliance, CleanTech Group, IGLOO, ITAC, MaRS and Microsoft. For further information, visit www.fast50.ca.
About Varicent Software Incorporated.
Varicent Software Incorporated delivers the most innovative sales performance management solution addressing the needs of business professionals across the entire enterprise. High performing companies relying on Varicent for better visibility and control of their complex variable compensation programs, automating the assignment of territories, the collection and approval of quotas, and reporting and analyzing sales performance include Waste Management, Linksys by Cisco, Sherwin-Williams, Manpower, Autodesk, Getty Images, Starwood Hotels, Time Customer Service, and many others.
©2009 Varicent Software. All rights reserved. Varicent and Varicent SPM are trademarks of Varicent Software Incorporated.
All other trademarks and company names mentioned are the property of their respective owners.
Contact: Brian Hartlen
SOURCE VARICENT SOFTWARE INCORPORATED
For further information: For further information: Brian Hartlen, Varicent Software, +1-416-987-1241, email@example.com Web Site: http://www.varicent.com