Varicent Starts Off Strong in 2010

TORONTO, May 17 /PRNewswire/ -- Varicent Software, an innovator and global leader in providing Incentive Compensation and Sales Performance Management solutions is proud to announce a successful Q1.  Highlights from the first quarter include new customer acquisitions, industry recognition from leading research firm Gartner, and the completion of a research study among senior finance executives on sales incentive compensation management. The study was conducted by CFO Research Services and underwritten by Varicent.

"We are excited to have started the year 2010 on such a positive note," said Dan Shimmerman, President and CEO, Varicent.  "With our innovative solution and a dedicated and talented team, Varicent is poised to continue to lead and shape this burgeoning market space. More organizations are starting to see that automating incentive compensation and sales performance management is no longer a nice to have but a requirement."

Throughout Q1, Varicent's SPM solution was adopted by various customers in a variety of industries including Financial Services, Medical Device and High-Tech.  By using Varicent's complete sales performance management application, companies are able to drive down the cost and time of their sales administration, improve the visibility into their sales behavior, and improve the overall effectiveness of their sales efforts.

Varicent was recognized with a 'positive' rating in the 2010 Gartner Research report entitled "MarketScope for Sales Incentive Compensation Management Software."  

"We believe that receiving a positive rating from Gartner is a great testament to the success of our ability to serve this market with our innovative solution, expanding partner network, service excellence and global support," said Brian Hartlen, VP Marketing, Varicent.

Also in Q1, Varicent announced the completion of a new research study entitled "Managing Sales Incentive Compensation Amid Uncertainty." The report was prepared by CFO Research Services and underwritten by Varicent, and draws on over 150 survey responses from senior finance executives about their views on sales incentive compensation management.  The report focuses on a variety of important topics including, how effective compensation models can boost sales productivity, the need to accurately & easily manage complex incentive plans and the importance of clear visibility into sales behavior.  

Varicent continues to grow its organization in support of customers adding nearly 40 new employees globally in the areas of customer support and development.

Varicent is looking forward to its second annual user conference, INSIGHT10 taking place May 16-19 in Scottsdale, Arizona.  Attendees will hear the latest in best practices and industry trends, have the opportunity to meet and network with other Varicent users as well as industry thought leaders, and meet with product experts. The conference speaker roster includes executives from General Electric, Deloitte and Accenture, as well as other Varicent customers and product experts.  

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 Waste Management, Convoy Financial Group, Sherwin-Williams, Manpower, Getty Images, Starwood Hotels, Sun Hung Kai Financial, and many others. For more information, please visit www.varicent.com.

©2010 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.

SOURCE Varicent Software Incorporated