October 25, 2006
Varicent Software Reports Strong 3rd Quarter Revenue and Earnings
(Toronto, ON) – Varicent Software Incorporated, a market leader in incentive and sales performance management (SPM) solutions, today announced record revenue and earnings for its third quarter ended September 2006. Licensing revenue for its flagship product, Varicent Sales Performance Management was up 93.7% from the second quarter 2006, and total revenue for the quarter was more than doubled from prior quarter results.
"We continue to make improvements in all parts of our business and are extremely pleased with our strong financial results and profitability," said Varicent CEO Dan Shimmerman. "In addition to our healthy revenue growth, our profit margins have been increasing and the services side of our business continues to expand. It's particularly noteworthy that we have attracted significant interest with enterprise customers, as our product has now proven itself superior in performance, functionality and scalability to our competitors," continued Shimmerman.
Varicent added a record number of new customers in the quarter, including KLA-Tencor (NASDAQ: KLAC) in San Jose, CA; Starwood Hotels and Resorts (NYSE: HOT) in White Plains, NY; Technisource, in Little Rock, AK; MetaSolv Software, in Plano, TX; Adaptec (NASDAQ: ADPT) in Milpitas, CA; Savvis (NASDAQ:SVVS) in St. Louis, MO; SunGard Higher Education in Malvern, PA; Walton International in Calgary, AB; and Global Insight in Waltham, MA.
"It has been an exceptional quarter for us in all facets of our business. We will continue to invest in our growth and are very optimistic about the Company's outlook for the future," said Dan Shimmerman.
About Varicent
Varicent Software Incorporated is a leading provider of Sales Performance Management (SPM) solutions. Varicent's flagship product, Varicent SPM, enables organizations across multiple industries to effectively design and mange incentive pay calculations across the company. Varicent SPM is a web-based solution built on Microsoft's .NET framework, and its patented rules-based calculation engine can manage the most complex compensation plans. Varicent's homepage is http://www.varicent.com.
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September 08, 2006
Varicent to Present at the "Beyond Budgeting Round Table"
(Toronto, ON) – Varicent Software Incorporated, a leader in incentive and sales performance management (SPM) solutions today announced that it will be an expert presenter at the "Beyond Budgeting Round Table (BBRT) Special Interest Group Meeting for Financial Services & Consumer Products". This workshop will be held at the AMA Executive Conference Center in New York City on Wednesday September 27th to Friday September 29th, and Varicent will be discussing how companies in Financial Services and Consumer Products industries can properly align incentive plans with their corporate objectives.
Incentive compensation is a vital component in motivating employees and reinforcing strategic goals and initiatives. The Consumer Products and Financial Services Industries face similar challenges in defining and implementing incentive compensation plans that motivate employees and help to achieve the organization's long-range strategic goals. In addition to addressing this important topic the workshop will feature Bennett Stewart, author of "The Quest for Value" and nationally recognized expert on incentive compensation, teaching attendees how to better define value-based measures and how to link compensation directly to value received by the organization.
Attendees will also benefit from hearing other expert presenters and case studies, including examples from successful incentive compensation management initiatives at Unilever, Bose, American Express and AIG.
About Varicent
Varicent Software Incorporated is a leading provider of Sales Performance Management (SPM) solutions. Varicent's flagship product, Varicent SPM, enables organizations across multiple industries to effectively design and mange incentive pay calculations across the company. Varicent SPM is a web-based solution built on Microsoft's .NET framework, and its patented rules-based calculation engine can manage the most complex compensation plans. Varicent's homepage is http://www.varicent.com.
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August 08, 2006
Varicent Spotlight on 'Business Intelligence Network'
(Toronto, ON) – In an exclusive interview with Claudia Imhoff and the Business Intelligence Network (www.BeyeNETWORK.com), Marc Altshuller, Executive VP of Worldwide Field Operations for Varicent Software, discussed how his company bridges the gap between performance management and variable-based pay programs, thus enabling large organizations to effectively align sales operations with strategic objectives.
"The vast majority of global sales forces use incentive compensation plans to motivate and encourage salespeople to maximize profits," said Altshuller. "Varicent's Sales Performance Management (SPM) application helps global organizations properly align sales and operational objectives by automating the incentive compensation management process and empowering management with sales modeling, analysis and reporting capabilities. By using Varicent, our clients significantly reduce administrative costs and achieve better results."
"Varicent's Sales Performance Management delivers a flexible solution capable of handling the unique needs of each organization," says Claudia Imhoff, President for Intelligent Solutions. "Their product automates the administration and calculation of incentive plans, examines sales performance, evaluates the effectiveness of the incentive plans - and also provides OLAP-based reporting."
"The Business Intelligence Network Solution Spotlights are intuitive dialogues with innovative solution providers, and these spotlights provide a cutting-edge introduction to the new products and services we know are of interest to the business intelligence community," says Powell, Publisher and Editorial Director of the Business Intelligence Network. "The network publishes five newsletters serving more than 115,000 readers across a wide variety of industries, making us the largest newsletter-based information source for business intelligence, performance management, data warehousing and data quality."
About Varicent
Varicent Software Incorporated is a leading provider of Sales Performance Management (SPM) solutions. Varicent's flagship product, Varicent SPM, enables organizations across multiple industries to effectively design and mange incentive pay calculations across the company. Varicent SPM is a web-based solution built on Microsoft's .NET framework, and its patented rules-based calculation engine can manage the most complex compensation plans. Varicent's homepage is http://www.varicent.com.
About Business Intelligence Network
The network's flagship site BeyeNETWORK.com leads the industry with up-to-the-minute news, newsletters, articles, executive spotlights, podcasts, expert-hosted channels and blogs. Experts include Claudia Imhoff, Bill Inmon, Craig Schiff, Colin White, David Loshin, and others. BeyeBLOGS.com is a business intelligence-specific community blogging site which provides an open forum about industry issues and challenges. BeyeSEARCH.com offers the first and only editor-driven directory and search engine specially built to serve this industry. BeyeRESEARCH.com provides research and case studies from leading authors and experts in business intelligence. For more information on Business Intelligence Network, please visit http://www.b-eye-network.com.
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August 01, 2006
Varicent Achieves Landmark Success in Q2 2006
(Toronto, ON) – Varicent Software Incorporated, a market leader in incentive and sales performance management (SPM) solutions, today announced record results for its second quarter ended June 30th, 2006. The company achieved tremendous growth in the quarter, remained highly profitable, and continued to attract a significant number of new clients.
"Our record revenues and improved profitability reflect the success of our strategy," said Dan Shimmerman, Varicent's President and CEO. "Software license revenues for Varicent's flagship product, Sales Performance Management (SPM), grew at a much higher rate than we had anticipated. Our bottom line for the quarter was exceptional due to our revenue growth and the higher profit margins from increased licensed sales."
In the second quarter, new customers included Kyphon (Nasdaq: KYPH) in Sunnyvale, CA; Heritage Health Systems, a wholly-owned subsidiary of Universal American Financial (Nasdaq: UHCO) in Houston, TX; Copano Energy (Nasdaq: CPNO) in Houston, TX; Arrow Financial Group, a wholly-owned subsidiary of SallieMae (NYSE: SLM), in Niles, IL; Nimsoft in San Mateo, CA; Pacific Blue Cross in Vancouver, BC and Holt Cat, in San Antonio, TX.
In addition, Varicent continued to strengthen its partner and value-added reseller (VAR) network across the globe.
"We are firing on all cylinders at Varicent and it's a fun place to be," said Dan Shimmerman. "With a full month of third quarter now under our belts, it looks like we will shatter our projections for our full year 2006 results. We have earned the trust of our large, loyal and rapidly growing customer base, and are winning away business from our competitors, who have failed to match Varicent's superiority in product functionality, technology and customer service."
About Varicent
Varicent Software Incorporated is a leading provider of Sales Performance Management (SPM) solutions. Varicent's flagship product, Varicent SPM, enables organizations across multiple industries to effectively design and mange incentive pay calculations across the company. Varicent SPM is a web-based solution built on Microsoft's .NET framework, and its patented rules-based calculation engine can manage the most complex compensation plans. Varicent's homepage is http://www.varicent.com.
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May 05, 2006
Pacific Blue Cross Optimizes Incentive Management with Varicent SPM
(Toronto, ON) – Varicent Software Incorporated, a leader in incentive and sales performance management (SPM) solutions announced today that Pacific Blue Cross has chosen Varicent Sales Performance Management (SPM), Enterprise Edition to better align incentive plans with corporate performance objectives.
"The Varicent solution enables us to rapidly calculate our variable-based pay plans across our company," stated John Crawford, Senior Vice President, Financial Services. "The solution will help us maximize selling and operational behavior by providing more transparency to our incentive programs."
"Varicent offers the industry's most comprehensive Sales Performance Management solution, designed to scale to the specific and complex requirements of large organizations like Pacific Blue Cross," said Alka Gautam, vice president, marketing, Varicent. "Varicent automates the entire incentive compensation cycle --from input and calculation through to tracking and refining, approval and final payment -- and provides our customers with the functionality they need to better manage sales performance and make informed business decisions."
About Varicent
Varicent Software Incorporated is a leading provider of Sales Performance Management (SPM) solutions. Varicent’s flagship product, Varicent SPM, enables organizations across multiple industries to effectively design and mange incentive pay calculations across the company. Varicent SPM is a web-based solution built on Microsoft’s .NET framework, and its patented rules-based calculation engine can manage the most complex compensation plans. Varicent’s homepage is http://www.varicent.com.
About Pacific Blue Cross
Pacific Blue Cross is British Columbia's leading provider of extended health and dental benefits, a position they've proudly held for more than 65 years. They are leaders in British Columbia through their comprehensive knowledge of unique regional health benefit needs, a thorough understanding of the health care system and an innovative response to the changing health care needs of Canadians.
As the province's largest benefits provider, Pacific Blue Cross processes more than 15 million claims annually. The health benefits of their nearly two million members and dependents are provided through more than 8,000 employee group plans for businesses, governments, unions and associations, and through individual plans. For more information on Pacific Blue Cross, please visit http://www.pac.bluecross.ca.
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April 21, 2006
Globalive Communications Expands Existing Varicent Deployment to OneConnect
(Toronto, ON) – Varicent Software Incorporated, a leader in incentive and sales performance management (SPM) solutions is pleased to announce that Globalive Communications, a leading provider of telecommunications solutions to niche markets, will expand its existing Varicent deployment by rolling the application out to OneConnect, a subsidiary of Globalive and a leading independent provider of hosted IP multimedia communications.
Globalive first deployed Varicent Sales Performance Management (SPM) software when the company needed a better, more accurate way of calculating sales commissions for its wholesale business with sales reps who target large deals within a small customer base, and for its B2B business with many sales agents doing smaller deals with thousands of customers. For the project, Globalive selected Varicent to import call records, properly compute incentive plans for each rep and provide accurate, timely reporting and analytics capabilities.
As part of this extended rollout, Globalive and OneConnect will now both use Varicent's business process workflow functionality to vastly simplify and streamline the process of submitting, approving and/or disputing commission payments to its national sales team.
By deploying Varicent at OneConnect and leveraging Varicent's Business Activity Monitoring (BAM) functionality, Globalive expects to further reduce the number of steps and amount of manual labor required to reconcile commission payments and disputes with individual reps. This will expedite the approval process and ensure that commission runs can occur on a timely basis without the need to revert back to manage disputed transactions.
"Varicent has been a strategic partner of ours for a long time and they share our vision of using technology as a springboard for smarter, faster, and more efficient business process management," said Brice Scheschuk, CFO for Globalive. "Once we made the decision to streamline the process of our variable pay plans at OneConnect, we knew that Varicent would be the right vendor to get us up and running fast. By standardizing on Varicent for our complete sales performance needs, we also benefit from lower total cost of ownership and easier administration."
"Companies need a sales performance solution that is closely tied to their overall sales strategy," said Dan Shimmerman, President and CEO of Varicent Software. "That is why we extended the functionality of Varicent to include tighter sales activity monitoring, and why customers like Globalive and OneConnect select Varicent for their end-to-end solution."
About Varicent
Varicent Software Incorporated is a leading provider of Sales Performance Management (SPM) solutions. Varicent’s flagship product, Varicent SPM, enables organizations across multiple industries to effectively design and mange incentive pay calculations across the company. Varicent SPM is a web-based solution built on Microsoft’s .NET framework, and its patented rules-based calculation engine can manage the most complex compensation plans. Varicent’s homepage is http://www.varicent.com.
About Globalive Communications
Globalive Communications Corp. is a leading provider of telecommunications solutions to niche markets. The company develops innovative applications and delivers first-rate services to clients internationally. Globalive leads the market in hospitality operator services, audio and web conferencing, VoIP, billing and clearing of call records and low-cost long distance calling for both hotels and residential clients, cellular #TAXI service, and competitive payphone services. Globalive is a recipient of Canada's 50 Best Managed Companies Award 2004 and was ranked #1 as the Fastest Growing Company in Canada on the 16th annual PROFIT 100. For more information on Globalive Communications, please visit http://www.globalive.com.
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April 10, 2006
Varicent and Applix Partner to Provide Customers With Greater Understanding and Control Of Sales Analysis, Metrics and Performance
(Toronto and Westborough, MA) – Varicent Software Incorporated, a leader in incentive and sales performance management (SPM) solutions, and Applix Inc. (NASDAQ: APLX), a global provider of Business Performance Management (BPM) and Business Intelligence (BI) applications, today announced a strategic partnership to provide a new Sales Performance Management solution to help organizations improve control and analysis of sales metrics and drive increased profitability.
Increasingly, organizations are demanding sophisticated business process automation tools that also provide advanced reporting and analytics functionality. This joint offering will combine Varicent's market leading Sales Performance Management Enterprise Edition, used to manage the complex business process of variable-based payment calculations, with Applix's industry-leading real-time analytics TM1® application to provide advanced Web-based analysis and "slice-and-dice" functionality to deliver greater performance, scalability and manageability to customers' sales operations.
"The combination of Applix TM1 and Varicent's SPM Enterprise Edition will accelerate the high level of growth and interest we now enjoy in the Sales Performance Management arena," said Marc Altshuller, Varicent's executive vice president. "By offering our new SPM solution with Applix TM1, we're delivering unrivaled functionality in reporting, on-demand data analysis and performance."
"Business performance management is expanding beyond finance into other divisions of businesses," said David Menninger, vice president of worldwide product management and marketing, Applix, Inc. "Sales management -- including advanced analysis of spend and greater transparency -- is one of the growth areas for performance management. By combining Applix's market-leading technology, which enables rapid 'what-if' planning on large volumes and constantly changing data, with Varicent's SPM Enterprise Edition, we make it easier for organizations to track the performance of and make appropriate decisions regarding their sales opportunities and organizations."
The combined solution will be unveiled at a Webcast moderated by Craig Schiff, CEO of BPM Partners on Wednesday April 26, 2006 at 2:00PM Eastern.
About Varicent
Varicent Software Incorporated is a leading provider of Sales Performance Management (SPM) solutions. Varicent's flagship product, Varicent SPM, enables organizations across multiple industries to effectively design and mange incentive pay calculations across the company. Varicent SPM is a web-based solution built on Microsoft's .NET framework, and its patented rules-based calculation engine can manage the most complex compensation plans. Varicent's homepage is http://www.varicent.com.
About Applix
Applix (NASDAQ: APLX) is a global provider of Business Performance Management and Business Intelligence applications based on Applix's TM1. TM1 applications enable continuous strategic planning, management and monitoring of performance across the financial and operational functions within the enterprise. Applix is a founder of the BPM Standards Group, and has been recognized by numerous industry analyst groups for its technical leadership and vision in the marketplace.
More than 2,200 customers worldwide use TM1 for tight integration with Excel, real-time response, adaptability, and low total cost of ownership. Delivered by Applix and by a global network of partners, TM1-based applications help customers manage their business performance and respond to the marketplace in real time. Headquartered in Westborough, MA, Applix maintains offices in four countries in Europe, North America and the Pacific Rim. For more information on Applix, please visit http://www.applix.com.
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April 06, 2006
Varicent and Northwest EIS-OLAP Form Strategic Partnership to Drive Improved Sales Performance
(Toronto, ON) – Varicent Software Incorporated, a leader in incentive and sales performance management (SPM) today announced that it has entered into a strategic partnership with Northwest EIS-OLAP, a leading and internationally respected business and technology consulting firm that enables companies to achieve world-class business performance. Under terms of the agreement, Northwest EIS-OLAP will be an implementation partner on Varicent's Sales Performance Management deployments to improve the performance of clients' business intelligence (BI) and Online Analytical Processing (OLAP) infrastructures.
"BI systems have tremendous potential to help companies run smarter, by providing real-time insight into operations. But rarely do the companies using these systems successfully leverage the underlying technology to effectively manage sales performance," said Thanh Hoang, President of Northwest EIS-OLAP. "Varicent provides a robust, flexible calculation engine for variable-based pay design and management, and its rich reporting and dashboard capabilities enable clients to do on-the-fly analysis of their sales and incentive metrics. This powerful combination extends the benefits of BI and OLAP, thereby dramatically enhancing the value companies can see through their investments in these types of systems."
"Varicent provides the necessary functionality for managing the complex and manual-intensive process of calculating variable-based pay," stated Marc Altshuller, Varicent's Executive Vice President of Sales. "Using our solution, Northwest EIS-OLAP customers will see an immediate and substantial benefit to their existing BI environments, and will gain valuable insight to their sales and incentive plans. With its focus on enhancing efficiency and improving business performance, Northwest EIS-OLAP is an ideal partner for Varicent, and we are excited to work with them to provide our joint customers with the best in Sales Performance Management."
About Varicent
Varicent Software Incorporated is a leading provider of Sales Performance Management (SPM) solutions. Varicent’s flagship product, Varicent SPM, enables organizations across multiple industries to effectively design and mange incentive pay calculations across the company. Varicent SPM is a web-based solution built on Microsoft’s .NET framework, and its patented rules-based calculation engine can manage the most complex compensation plans. Varicent’s homepage is http://www.varicent.com.
About Northwest EIS-OLAP
Northwest EIS-OLAP is a privately held consulting firm specializing in the delivery of highly customized business intelligence (BI) and analytical applications. Based out of Vancouver, WA, the company leverages industry-specific knowledge, thought leadership skills and technical expertise to design and deliver highly customized business intelligence and analytical applications that enable clients to gain a true competitive advantage from better access and analysis of their corporate information. For more information on Northwest EIS-OLAP, please visit http://www.nweisolap.com.
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April 01, 2006
Varicent Announces Q1 2006 Highlights
(Toronto, ON) – Varicent Software Incorporated, a market leader in incentive and sales performance management (SPM) solutions, today announced another breakthrough quarter, with record results for Q1 2006. The company continued its accelerated growth and achieved a significant increase in licensing revenue of its flagship product, Varicent Sales Performance Management (SPM).
In Q1 2006, the Company doubled new customer wins over last year's first quarter, and a 42% increase from the last quarter in 2005. Average deal size during the quarter was also considerably higher than the historical average.
"We are very pleased with our market traction, growth and execution in the past quarter," said Varicent's Chief Executive Officer, Dan Shimmerman. "We signed a record number of large customers in our target industries, attracted new partners and resellers, and continued to invest in people and technology to extend our competitive lead."
In the first quarter, new customers included Greater Bay Bank (NASDAQ: GBBK) in San Francisco, CA; Tweeter Home Entertainment Group (NASDAQ:TWTR) in Boston, MA; Streling Testing Systems, in New York City, NY; Omneon Video Networks in Sunnyvale, CA; OneConnect Communications in Toronto, ON, as well as a leading international consulting firm, a national real estate agency and a network software vendor. Varicent also signed many new partners and value-added resellers, and entered into a major strategic partnership with Applix Inc., a leading provider of Business Performance Management (BPM) and Business Intelligence (BI) solutions.
"We have invested considerably in Varicent this quarter, and have developed significant market momentum," said Dan Shimmerman. "We have a lot to look forward to in 2006 and beyond, including continued expansion into new industries and new markets."
About Varicent
Varicent Software Incorporated is a leading provider of Sales Performance Management (SPM) solutions. Varicent’s flagship product, Varicent SPM, enables organizations across multiple industries to effectively design and mange incentive pay calculations across the company. Varicent SPM is a web-based solution built on Microsoft’s .NET framework, and its patented rules-based calculation engine can manage the most complex compensation plans. Varicent’s homepage is http://www.varicent.com.
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March 01, 2006
Varicent Advances Position in Financial Service Industry
(Toronto, ON) – Varicent Software Incorporated, a leader in incentive and sales performance management (SPM) solutions, today announced a focused initiative to bolster its growing market share in the financial services sector. To lead this corporate directive, Varicent has appointed Kerry Sokalsky to the role of Senior Director of Financial Services.
"The growing awareness of the value of Varicent's product suite in the financial services arena is now significantly enhanced by Kerry's arrival," stated Dan Shimmerman, Varicent's President and CEO. "Kerry has a proven track record of delivering profitable revenue and possesses the right mix of original thinking, problem solving abilities, energy and exceptional commitment to client service. His deep knowledge of industry best practices in variable pay ensures that Varicent will continue on its path for accelerated growth in this specific market."
Sokalsky has extensive sales and client management expertise in banking, insurance, securities and financial services. His career encompasses senior positions at Taddingstone Consulting Group, and PriceMetrix, where he headed compensation and pricing redesign projects for major brokerage houses and financial institutions across the continent. Kerry holds an HBA from the Ivey School of Business at the University of Western Ontario, and has been quoted numerous times as an industry expert in many major US and Canadian financial publications.
"Financial institutions are realizing that information 'silos' are sand in the gears of their business. Calculating broker and sales agent commissions, and measuring sales performance has become far too time-consuming and maintenance-intensive," said Sokalsky. "Without a doubt, these companies can harness the power of Varicent's engine to enhance financial control, streamline business processes, and gain deeper insight into the revenue side of their business.
"Varicent represents a great opportunity for me, and the company has the essential ingredients for a great outcome of growth, value creation, and market-leadership. I welcome the challenges of this exciting role, and will continue to build upon our growing momentum in this area."
About Varicent
Varicent Software Incorporated is a leading provider of Sales Performance Management (SPM) solutions. Varicent's flagship product, Varicent SPM, enables organizations across multiple industries to effectively design and mange incentive pay calculations across the company. Varicent SPM is a web-based solution built on Microsoft's .NET framework, and its patented rules-based calculation engine can manage the most complex compensation plans. Varicent's homepage is http://www.varicent.com.
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February 13, 2006
Varicent Recognized for Enabling Automation of Incentives
(Toronto, ON) – Varicent Software Incorporated, a leader in incentive and sales performance management (SPM) solutions is pleased to announce that it has received positive recognition for its flagship product, Varicent SPM, in a featured article in the Business Intelligence Network. Varicent SPM enables organizations to automate the design, calculation and management of commission plans.
With its vast library of up-too-date articles, newsletters, interviews and blogs, Business Intelligence Network is the industry's premier on-line portal for best practices coverage in Business Performance Management, and Business Intelligence.
“Varicent has focused its business on helping organizations manage and monitor their sales performance, an important subset of the vast Business Performance Management category,” stated Craig Schiff, President and CEO of BPM Partners, and author of the newsletter that recognized Varicent. “With this best-of-breed approach, Varicent will positively impact the sales performance of their clients, and is well positioned to play an important role in this evolving market."
"We are honored to have such a prestigious publication recognize our company," says Dan Shimmerman, Varicent’s President and Chief Executive Officer. "With the release of Varicent SPM, our engineering and development team solved a highly complex and pervasive business problem caused by obvious difficulties managing spreadsheet-based commission systems. In moving away from a manual and spreadsheet-intensive commission process to the adoption of solutions like ours, companies can truly emerge as leaders in Sales Performance Management best practices."
About Varicent
Varicent Software Incorporated is a leading provider of Sales Performance Management (SPM) solutions. Varicent's flagship product, Varicent SPM, enables organizations across multiple industries to effectively design and mange incentive pay calculations across the company. Varicent SPM is a web-based solution built on Microsoft's .NET framework, and its patented rules-based calculation engine can manage the most complex compensation plans. Varicent's homepage is http://www.varicent.com.
About Business Intelligence Network
The Business Intelligence Network offers the most current information about data mining, its advancements and how some of the most innovative companies in the world are using it. Developing strong processes for your business is a daunting task, but it is also one that can be put into perspective when you have information resources from which to draw. We deliver the most pertinent content based on your preferences and needs on every relevant business topic. For more information on Business Intelligence Network, please visit http://www.b-eye-network.com.
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February 06, 2006
Varicent Software Ships Next Generation Varicent Sales Performance Management
(Toronto, ON) – Varicent Software Incorporated, a leader in incentive and sales performance management (SPM) solutions, today announced the immediate general availability of Varicent Sales Performance Management (SPM) 3.0. This new version offers full web support for reporting and dashboards, and can be fully integrated with other front and back office systems, offering low total cost of ownership and fast return on investment.
The value to Varicent customers of using the latest version of SPM is a fully integrated view of all variable based pay plans across multiple departments within the company, tighter period controls and transactional audit features, enhanced flexibility with plan calculation designs and maintenance, improvements to Workflow Management, and a significant boost to data load and processing performance.
Through a customizable reporting and dashboard web interface, sales agents can have real-time access to their commission, quota, attainment and target data to help them track individual and team performance, while encouraging productive sales behavior.
"This high-performance version is easy to use, has tighter systems integration, and an extended, highly flexible calculation engine," said Alka Gautam, Varicent's head of Marketing. "Version 3.0 can effectively cut a company's administrative and processing cost per sales agent by 60-75%, while improving quality and management information so much that the system almost always pays for itself in less than six months."
"We're very excited about Version 3.0. The application will continue to help clients to streamline business processes, reduce administrative costs and improve operating efficiencies. We believe that our product is now the most powerful sales compensation management system available today, and will set a new standard in this rapidly growing space."
About Varicent
Varicent Software Incorporated is a leading provider of Sales Performance Management (SPM) solutions. Varicent's flagship product, Varicent SPM, enables organizations across multiple industries to effectively design and mange incentive pay calculations across the company. Varicent SPM is a web-based solution built on Microsoft's .NET framework, and its patented rules-based calculation engine can manage the most complex compensation plans. Varicent's homepage is http://www.varicent.com.
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