TORONTO, Oct. 20 /PRNewswire/ -- The leading innovator in incentive compensation (ICM) and sales performance management (SPM) solutions, Varicent Software Incorporated today announced that it ranked number 1 in the software category and number 6 overall on Technology Fast 500™, Deloitte's ranking of 500 of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Rankings are based on percentage of fiscal year revenue growth during the period from 2005–2009. Varicent grew 40,269 percent during this period.
"It's an honor to be part of the Deloitte Technology Fast 500," said Dan Shimmerman, CEO, Varicent Software. "This significant milestone is a testament to the vibrancy of the Sales Performance Management market, and to the dedication and hard work of our employees. Their passion to deliver innovative solutions that continue to push the boundaries of incentive compensation and sales performance management solutions have been a real driver of our growth," continued Shimmerman.
Deloitte's Technology Fast 500™ recognizes innovative companies that have broken down barriers to success and defied the odds with their outstanding five-year revenue growth. Overall, Technology Fast 500™ award winners for 2010 had revenue growth ranging from 146 percent to 164,079 percent from 2005 to 2009, with an average growth of 2,361 percent.
"With its remarkable growth from 2005 to 2009, Varicent has earned its position among the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America and deserves our congratulations," said John Ruffolo, National Leader, Technology, Media & Telecommunications Industry Group, Deloitte Canada. "Deloitte is proud to honor Varicent for this accomplishment."
This is Varicent's first year on the Deloitte Technology Fast 500™ list.
For additional details on the Technology Fast 500™ including qualifying criteria, visit www.fast500.com.
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 Covidien, 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.
As used in this document, "Deloitte" means Deloitte LLP and its subsidiaries. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.
©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