Sales Performance Management and Incentive Compensation leader closes
second quarter with continued customer adoption and significant product
TORONTO, Aug. 6 /CNW/ -- Varicent Software, an innovative and industry
leading provider of Incentive Compensation Management (ICM) and Sales
Performance Management (SPM) announced impressive performance for the second
quarter of 2009. Notable achievements include extensive global adoption of
Varicent Software, significant development of the company's flagship product,
Varicent SPM and strong financial performance where revenues increased by over
100% over the second quarter of 2008.
"Organizations worldwide continue to adopt sales performance management
as a proven and accepted standard of improving sales effectiveness. Varicent
has continued to gain global market share through product innovation, a driven
sales team and a passion to help our clients be successful" said Dan
Shimmerman, CEO Varicent.
The second quarter saw global companies in a variety of industries
including financial services, high tech, manufacturing, medical devices, and
pharmaceuticals choose Varicent to manage their sales performance and
incentive compensation. Some of the new customers acquired in Q2 include
Elavon, an end-to-end payment processing firm, the paint and coating
manufacturer and distributor Sherwin-Williams, Sun Hung Kai Financial, the
leading non-bank financial institution in Hong Kong, Amedica Corporation, an
orthopedic implant company, and Convoy Financial Group, the leading
independent financial advisory firm in Hong Kong. With an increasingly
diverse vertical and geographic distribution of customers and the drive to
meet the extensive global demand for SPM, Varicent is poised to carry this
momentum throughout the rest of 2009.
Growth in Q2 was also fueled by the release of Varicent SPM 6.0.
Varicent is excited about the new release which provides features to improve
the alignment of strategies, sales execution and better insight into sales
performance. Its new reporting capabilities provide for greater depth of
information and expanded delivery options. SPM 6.0 also includes
salesforce.com and Microsoft Dynamics CRM integration and has the capability
to provide users greater visibility and sales data accuracy from their CRM
Varicent's inaugural Users Conference, INSIGHT09, took place in May and
was a huge success. The event brought together Varicent customers, partners
and other industry leaders to discuss challenges, opportunities and technology
advances in the field of Sales Performance Management and Incentive
Compensation. The event's sponsors included Accenture, Deloitte, Microsoft,
Watson Wyatt, Arcadia, Glenture, OpenSymmetry and Revelwood.
In the second quarter, Varicent earned industry recognition having been
ranked first in product manageability and product adaptability through the
Ventana Research 2009 Value Index for Sales Performance Management.
With a successful second quarter and half year behind them, Varicent is
intent on looking forward not back. "We are pleased with our great first half
of the year, however, we are more focused on finishing strong and remaining on
track to achieve another record year in 2009", said Shimmerman.
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.
For further information:
For further information: Brian Hartlen of Varicent Software,
+1-416-987-1241, firstname.lastname@example.org Web Site: http://www.varicent.com