Strongest Q2 in Varicent's History

TORONTO, July 29 /PRNewswire/ -- Varicent Software, the leading innovator in Incentive Compensation and Sales Performance Management solutions, is proud to announce an extremely productive and successful Q2. Highlights from the second quarter include new customer acquisitions, securing the #1 position in the 22nd annual PROFIT 100 ranking of Canada's Fastest-Growing Companies by PROFIT Magazine, and the successful hosting of INSIGHT10, Varicent's annual user conference.  

"We are thrilled with all of the exciting activity that has taken place during this quarter," said Dan Shimmerman, President and CEO, Varicent. "We are especially proud that this Q2 was our best to date – more than 50% stronger than any Q2 prior.  The company is on track to hit our year end growth targets of 35% plus."

Throughout Q2, Varicent's solution was adopted by ten new customers across industries including Retail, Technology, Insurance and Financial Services.  Varicent's growth is unparalleled in the industry and this exemplary performance affirms that its sales performance management and incentive compensation solution succeeds in driving down the cost and time of sales administration, improves visibility into sales behavior, and enhances the overall effectiveness of sales efforts.

In May, Varicent hosted INSIGHT10, its annual user conference focused on Incentive Compensation and Sales Performance Management.  INSIGHT10 brought together Varicent customers, industry experts, Varicent partners and staff for three days of training, education and information exchange. Participants heard the latest in best practices and industry trends; they were able to network with other Varicent users and learn from their successes and attendees enjoyed Hands on Labs with the ability to explore Varicent in more detail.  "We were delighted with the impact of this conference," said Brian Hartlen, Vice President Marketing, Varicent.  "In addition to providing our users and partners with a meaningful experience, we at Varicent benefited from the opportunity to be face-to-face with our stakeholders and to learn about their environments, their needs and how they have leveraged Varicent to forecast and grow."

Q2 also saw the latest release of the company's flagship product, Varicent 7, which empowers organizations to manage increasingly complex compensation processes and significantly reduces implementation time and effort.  This new incarnation provides Varicent customers with effective tools to deal with market volatility and changes within the context of less time and fewer resources.

One of the most impressive achievements of Q2 was Varicent's #1 ranking in PROFIT Magazine's listing of Canada's fastest growing companies.  The standing was based on the company's sales performance for five-year revenue growth. "We are extremely proud of our performance, and PROFIT Magazine's recognition of our accomplishments," said Dan Shimmerman, President and CEO, Varicent.  "Varicent's success is the result of our entire team's hard work and commitment, as well as our shared dedication to delivering value to our global customers."

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