Varicent - Press Releases

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Toronto, October 19, 2011 — Varicent Software Incorporated, a pioneer and global leader in incentive compensation management and sales performance management (SPM) solutions, is ranked among the Deloitte Technology Fast 50^TM, a ranking of the 50 fastest growing technology companies in Canada, based on the percentage of revenue growth over five years. Varicent's increase in revenues of 1,915 percent from 2006 to 2010 resulted in a 13 ranking.

For 14 years, the Deloitte Technology Fast 50^TM program has tracked the successful growth of Canadian-grown global leaders. Now Canada’s pre-eminent technology award program, the Deloitte Technology Fast 50^TM augments the broader Deloitte North American Technology Fast 500 initiative, with winners automatically eligible for this elite ranking.

“Canadian technology companies have demonstrated some very impressive growth numbers over the past year, amid the challenges of an uncertain global economic recovery,” said Richard Lee, National Leader, Technology, Media & Telecommunications Industry Group, Deloitte. “Varicent is an example of the determination, drive and skill that will serve to position them for further growth and success in the years to come.”

Varicent's CEO Dan Shimmerman, credits Varicent's innovative solutions, commitment to customer success, and dedicated employees as the key drivers of the company's 1,915 percent revenue growth. Shimmerman said, “Receiving this recognition for the second consecutive year is an honor.  We are proud to join this group of the most successful technology companies in Canada. This award further drives Varicent to provide innovative solutions that enable organizations to drive their overall sales performance.”

To qualify for the Deloitte Technology Fast 50^TM ranking, companies must have been in business for at least five years, have revenues of at least $5 million, be headquartered in Canada, own proprietary technology, and conduct research and development activities in Canada. A panel of industry experts evaluate and judge companies based on four key criteria: competitive advantage; size, growth, and market attractiveness; management effectiveness and organization; and financial performance.

About the Deloitte Technology Fast 50^TM
The Deloitte Technology Fast 50^TM program is Canada’s pre-eminent technology awards program. Celebrating business growth, innovation and entrepreneurship, the program features four distinct categories including the Technology Fast 50^TM Ranking, Companies-to-Watch Awards (early-stage Canadian tech companies in business less than five years, with the potential to be a future Deloitte Technology Fast 50^TM candidate,) Leadership Awards (companies that demonstrate technological leadership in four industry subcategories: hardware/semiconductor, software, telecommunications and emerging technologies) and the Deloitte Technology Green 15^TM Awards (Canada’s leading GreenTech companies that promote a more efficient use and re-use of the earth's resources in industrial production and consumption.) Program sponsors include Deloitte, Gowlings, Wellington Financial, TMX Group, HKMB Hub International, National Angel Capital Organization, CVCA, MaRS and IGLOO Software. For further information, visit www.fast50.ca.

About Varicent Software Incorporated
Varicent Software Incorporated, a global pioneer in Incentive Compensation and Sales Performance Management, 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 200 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, and was ranked the fastest growing software company on Deloitte’s 2010 Technology Fast 500. For more information, visit http://www.varicent.com.