Varicent in the News

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(Toronto, ON) – Varicent, an IBM Company, today announced restaurant chain Texas Roadhouse Inc. has selected Varicent to automate processes for 1,800 payees. Operating 380 restaurants in 47 states, Texas Roadhouse was looking to upgrade its bonus incentive platform for calculating monthly and quarterly compensation. The Texas Roadhouse compensation team was seeking a solution to help them manage the overall incentive compensation bonus calculation process, including the ability to handle override exceptions, manage employee sharing between locations and provide greater visibility with reporting. 

“We are very excited to roll out Varicent’s solution, which will help us upgrade our incentive bonus program,” said Mark Simpson, Vice President of Legendary People.

Varicent was chosen because it:

• Provided the capability to establish a compensation administration infrastructure that could be managed by a small team.
• Has the ability to provide reporting visibility to Regional and Market Partners, as well as financial management.
• Offers flexibility to support growing business objectives.
• Improved auditing as it relates to incentive compensation tracking.

“Texas Roadhouse has a complex incentive compensation process that involves multiple players, across territories, with bonuses and overrides and other unique considerations,” said Mark Girvan, Vice President Americas Field Operations, Varicent. “Varicent will provide streamlined automation, flexibility and reporting to help consolidate processes and drive business results.”

About Texas Roadhouse

 Based in Louisville, Kentucky, Texas Roadhouse opened its doors in 1993. In just 19 years, Texas Roadhouse has grown to more than 380 locations in 47 states. The company is famous for hand-cut steaks, made-from-scratch sides, fresh-baked bread, and its lively atmosphere.  In 2007 and 2008 Forbes magazine ranked the company as one of the 200 Best Small Companies and in 2009 the company was ranked “Best Value” by readers of Consumer Reports magazine. For more information, visit www.texasroadhouse.com

About Varicent Software, an IBM Company

 Varicent Software Incorporated, an IBM company, is a global pioneer in Incentive Compensation and Sales Performance Management that delivers innovative, industry-leading solutions for finance, sales, human resources and IT departments in high-performing companies across industries. Varicent solutions streamline administrative processes, maximize efficiencies and drive improved sales performance. In addition to ranking in the top 5 two years running, in the PROFIT 100 list of Canada’s Fastest Growing Companies by PROFIT Magazine, Varicent was named the highest overall “hot” vendor in the Ventana Research 2011 SPM Value Index.

Varicent announces plans to expand into Asia-Pacific region

From ARN: www.arnnet.com.au

By: Hafizah Osman

Telco service provider, Telstra, has selected incentive compensation and sales performance management solution provider, Varicent Software, in a move to transform its incentive compensation process.

According to Telstra, it was looking to automate processes involved in incentive payments and wanted to streamline its existing processes into one system.

Varicent will provide Telstra with a new system that will manage, model and analyse the various incentive payments in the business, enterprise and government sales divisions across verticals such as retailers, telcos, financial service providers and pharmaceuticals. “We’re seeing the rule of business changing more rapidly. Businesses have more data that has to be processed that much faster, more products, more channels and more countries; and its come to a breaking point where people are coming to specialised software,” Varicent vice-president of marketing, Brian Hartlen, said.

He said having a customer such as Telstra allowed it to expand further in the Asia-Pacific region. The company recently launched new offices in Singapore, Melbourne and Hong Kong.

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