Varicent - Press Releases

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(Toronto, ON) – Varicent Software, an innovator and provider of incentive compensation management (ICM) and sales performance management (SPM) solutions, continues to build on its momentum as a leader in the quickly evolving SPM market.

Remarkable revenue growth in 2008 was fueled by record customer demand, with notable companies including Getty Images, Smith and Nephew, Shaw Industries, Time Customer Service, Farmers Insurance, Nexient Learning, Gexa Energy, Manpower and more realizing the potential and value of Varicent SPM.

"There is no disputing that the current economic turmoil is affecting everyone," says Dan Shimmerman, CEO of Varicent. "But our growth highlights that solutions which deliver on the promise of improving the bottom line have infinite value. We will continue to be aggressive in strengthening our position as a dominant SPM player. Our recently launched global operations in EMEA and APAC, our strong partner network and new product innovations will help us to build on our successful track record of growth and delivering results."

Key business developments include:

• Corporate expansion with the hire of key senior executives, the launch of EMEA and APAC operations and an expanded Board of Directors
• Significant expansion of partner network including partnerships with Accenture, Deloitte, Revelwood, Arcadia, OpenSymmetry, Beans Factory and Suvitech

Key product developments include:

• Launch of unique graphical user interface so that Compensation Analysts can manage the applications themselves
• Successful product launches integrating Varicent SPM with Microsoft solutions
• Growth of on-demand and on-premise delivery options for increased flexibility
• Industry-first mobile application for sales performance management

Industry recognition includes:

• Positive rating from Gartner's MarketScope for Sales Incentive Compensation Management¹
• ISV/Software Solution of the Year Award, Microsoft 2008 Impact Awards
• Market Leaders Incentive Management, Finalist, 2008 CRM Market Awards

"We are looking forward to the year ahead because the market has told us time and again that effective sales compensation management is a key priority," continues Shimmerman. "We are committed to helping companies shore up their bottom lines by improving sales effectiveness through speed, flexibility and visibility."

About Varicent

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, KLA-Tencor, AAA, Manpower, American Century Investments, Smith & Nephew, Shaw Industries, Nexient Learning, Starwood Hotels and Resorts, Chase Paymentech and many others.

¹Gartner "MarketScope for Sales Incentive Compensation Management Software" by Michael Dunne, July 30, 2008.