Varicent - Press Releases

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(Toronto, ON) – Varicent Software, an innovator and provider of sales performance management (SPM) solutions, today announced another record quarter of sales and revenue for the first quarter of 2008. The interest in, and competitive selection of Varicent SPM, is part of a strong, growing market trend. According to Ventana Research, the potential market size for sales performance management could exceed $8 billion in the U.S. alone by 2010¹.

"There is a pressing need for sales organizations to come closer to achieving their maximum potential, and improving the quality of their information and the capabilities of the technology they use are the primary means for doing that," states Mark Smith, CEO and executive vice president of research, Ventana Research. "We see a shift away from narrow investments in sales force automation to ones that support the management of operations and performance-driven activities and processes that improve the outcomes of sales efforts."

Varicent's strong first quarter results were fueled by strong license fees and new customer wins. More and more new clients are purchasing Varicent SPM to leverage all its modules for incentive compensation management (ICM), territory management, quota planning, performance analytics and Varicent Mobile.

"While growth was strong across all of the business, it was particularly gratifying to see the adoption of Varicent SPM by large enterprise customers this quarter," said Dan Shimmerman, president, Varicent. "These organizations demand flexibility, scalability and business unit ownership of their applications and their selection of Varicent SPM further validates our innovative approach to sales performance management."

Other First Quarter Highlights
In addition to realizing record results, Varicent saw a number of significant new developments in the first quarter 2008. These included:

• Hired industry veterans Brian Hartlen as vice president of marketing and Martin Saipe as vice president of corporate development;
• Opened new headquarters in Toronto, expanding and upgrading Varicent's offices by 300 percent and adding state-of-the-art features;
• Increased the Varicent workforce by 30 percent to meet current and future product development, customer and market demands;
• Appointed Shawn Yeager, director of business development, to manage Varicent's partner relationship with Microsoft;
• Re-launched, revamped and expanded Varicent's training program for both customers and partners; and
• Varicent was named a 'Noteworthy' vendor in the performance management space by BPM Partners.

"Our significant customer wins reflect our leadership position in both incentive compensation management (ICM) and sales performance management (SPM)," continued Shimmerman. "We are also excited about the latest release of Varicent SPM 5.0 and by what's being planned for the next releases, which will continue to help our customers improve their overall sales effectiveness."

¹ Potential Market Size for Sales Performance Management, Ventana Research, April 28, 2008.