Sales Performance Management leader Continues Strong Momentum by Remaining the Preferred Vendor for High Performing Companies, across Industries, around the World
TORONTO - Tuesday, August 9th 2011 [ME NewsWire]
(BUSINESS WIRE)-- Varicent Software Incorporated, a pioneer and global leader in incentive compensation management and sales performance management (SPM) solutions, is pleased to announce a record Q4, highlighted by significant new customer acquisitions, customer go-lives, industry recognition and the most successful annual customer conference to date. The announcement was made during Varicent’s annual company-wide kick off taking place at the Park Hyatt in Toronto. Over 200 Varicent employees from around the world converged in Toronto to discuss company performance as well as the year ahead.
With 93% bookings growth over the same period in 2010 and year over year bookings growth of 73%, Varicent has extended its position as the preferred vendor of incentive compensationand sales performance management solutions. While Varicent continues to serve organizations in many industries, it is notable that many of the new customers came from insurance, banking, retail and medical device sectors. Noteworthy customerexpansion came in hospitality, technology, telecommunications and retail industries. In addition, strong contribution to this growth came from Asia Pacific and EMEA regions.
“It is great to see all the new customers, but I am particularly excited to see a number of our existing customers deploying our solutions in additional markets, divisions and countries,” said Dan Shimmerman, President and CEO, Varicent. “This is a testament to the value that they are getting from Varicent.”
RECOGNITION
An extremely rare accomplishment, for the second consecutive year, Varicent has appeared in the top 5 on the PROFIT 200, placing 4th in 2011. Ranking Canada’s Fastest-Growing Companies by five-year revenue growth, the PROFIT 200 profiles the country’s most successful growth companies. Published in the summer issue of PROFIT and online at PROFITguide.com, the PROFIT 200 is Canada’s largest annual celebration of entrepreneurial achievement.
VARICENT CUSTOMER CONFERENCE
May 2011, Varicent hosted its 3rd annual customer conference, INSIGHT, in Boston, MA. INSIGHT11 attracted record numbers with nearly 300 attendees gathering from around the globe to discuss, train and share ideas on sales performance management.
“The demand for sales performance management solutions is on the rise, and our Q4 results confirm that Varicent is poised to meet the demanding needs of companies across the globe as they seek a to optimize their sales force effectiveness and realize the greatest return on their investment,” said Shimmerman.
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 100 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.
©2011 Varicent Software. All rights reserved. Varicent and Varicent SPM are trademarks of Varicent Software Incorporated.
All other trademarks and company names mentioned are the property of their respective owners.
Contacts
Varicent Software
Brian Hartlen
1-416-987-1241
bhartlen@varicent.com
www.varicent.com
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