REDWOOD SHORES, Calif., Jan. 29 /PRNewswire/ -- Merced Systems, Inc., the leading provider of Sales Performance Management and Service Performance Management software and solutions, announced today that the company grew rapidly in 2009, posting record sales of nearly $50 million despite the global economic slowdown. Merced Systems' record sales and revenues were the result of a number of factors:
- Accelerated rate of new customers' performance management projects
- Rapid geographic expansion
- Significant growth in the volume of Merced customers buying multiple products from Merced based on their high-level of customer satisfaction
Merced Systems has crossed the 600,000 licenses deployed mark worldwide, throughout a range of industries including banking, insurance, telecommunications, travel, and consumer electronics.
"Merced Systems' 2009 growth and profitability are a testament to the value of Sales Performance Management and Service Performance Management solutions in helping organizations increase revenues, reduce operational costs, and improve customer experience, through good times and bad," said Matt Glickman, CEO of Merced Systems. "Our profitability in 2009 not only strengthens the company financially, but enables us to continue investing in improved and new products which further extends our leadership position in the Sales Performance Management and Service Performance Management category."
"The demand to manage optimal performance in sales and customer service has continued to climb as organizations focus on effectiveness as much as the efficiency of tasks," said Mark Smith, CEO & EVP of Research of Ventana Research. "Merced Systems has proven that a dedicated focus to meet this demand can deliver significant value for analytics and performance management designed for use within and across sales and services organizations."
Merced Systems, Inc. 2009 highlights include:
- Significant customer wins in all major verticals, including major banks, insurance, and telecommunication companies
- 10 orders for performance management projects larger than $1 million
- Record number of new customer wins
- 97% overall customer renewal rate
- 300 % increase in the number of new and existing customers buying multiple Merced products
- More than doubled the number of Incentive Compensation Management customers over 2008
- Expansion of Merced's global footprint through new customer acquisitions in Asia and Europe
- Solidified leadership position for service performance management for 7th straight year
- Major industry recognition and awards, obtaining the Deloitte 2009 Technology Fast 500, and Inc. Magazine's Top 100 Fastest Growing Private Software Companies in the US, Recognized as top ICM vendor in the Ventana Research ICM market report
- Substantial growth in the company's partner network and eco-system through collaboration with companies including Arcadia Solutions, Canidium, Deloitte Consulting, Ulysses Learning and Nexidia
About Merced Systems
Merced Systems is the leading provider of Sales Performance Management and Service Performance Management applications focused on improving operational effectiveness of sales forces and service organizations across a range of vertical industries. Merced Systems' award-winning products serve Global 2000 customers, and include advanced analytics and reporting, incentive compensation management, coaching, and other performance execution applications. With a strong track record of growth and delivering business impact to its customers, Merced Systems has been profitable for the past 7 years. Merced Systems is a privately held company headquartered in Silicon Valley and London, with major customers in 20+ countries worldwide. For more information on Merced Systems, please visit www.mercedsystems.com.
SOURCE Merced Systems, Inc.