Varicent - Press Releases

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(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.