Varicent - Press Releases

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June 22, 2011 (Toronto, ON) – Varicent Software Incorporated, the leading innovator and provider of incentive compensation and sales performance management (SPM) solutions, announced today that Reliance Standard Life Insurance (Reliance Standard), a leading insurance carrier specializing in innovative and flexible employee benefits solutions, has chosen Varicent to administer and manage their Incentive Compensation Management processes.  The Varicent system will replace their existing homegrown system providing Reliance Standard improved usability and flexibility around compensation plans and reports.  

Reliance Standard had relied on a custom solution to manage all incentive compensation processes and administration.  The company needed an automated system to help non-IT users manage the commission process.  They also need to improve flexibility and auditability of commission calculations.

“Varicent offers tremendous versatility in its capability, for our agents, Compensation Analysts and Senior Management alike.  The user friendly system was a clear fit for our requirements providing the right tools to help manage our growth in a strategic manner,” said Vince Berarducci, Director, Sales Operations Analytics, Reliance Standard.   

Reliance Standard specializes in innovative and flexible employee benefits solutions including disability income and group term life insurance, a suite of voluntary (employee paid) coverage options and fully integrated absence management. Reliance Standard markets these solutions through independent brokers and agents to employers of all sizes.

"Driving visibility and ease of use when managing commissions is significant to ensuring the success of an insurance organization,” said Mark Girvan, Vice President, America’s Field Operations, Varicent. “We are proud to add Reliance Standard to our growing customer base and are pleased as this relationship adds to our tremendous global growth in the insurance industry.”

Varicent helps insurance organizations effectively manage highly complex processes, commission payments, planning and producer maintenance. With Varicent, organizations can realize the benefits of automating their sales performance and incentive compensation processes by providing more accurate payments, reduced administrative costs and flexibility to meet changing regulatory environments.

About Varicent Software Incorporated
Varicent Software Incorporated is an innovative software solutions provider delivering measurable improvements to its clients businesses through its industry-leading sales performance management solution Varicent SPM. Varicent's customers are high-performing companies representing a variety of industries and include Tribune, Sherwin-Williams, Bank of the West, Farmers Insurance, ING, Manpower, Dex One, Maritz, Sun Hung Kai Financial, and many others. For more information, please visit www.varicent.com.