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Varicent Software Incorporated

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Varicent's Q3 is Marked by Strong Growth and Industry Recognition

Highlights include impressive ranking in Deloitte Technology Fast 50 as well as 10 new customer acquisitions across several industries

Toronto, Canada, November 04, 2010 --( Varicent Software, the leading innovator in Incentive Compensation and Sales Performance Management solutions, is very proud to announce an extremely strong and productive Q3. Highlights from the third quarter include ten new customer acquisitions, a #3 ranking on the Deloitte Technology Fast 50, recognition as one of I Love Rewards 50 most engaged workplaces, and acknowledgment as a market leader for the 2010 CRM Market Awards in Incentive Management. During this quarter, Varicent also hosted a successful Customer Advisory Board gathering in Toronto.

“This has been a particularly exciting time for Varicent and I am delighted with our achievements this quarter,” said Dan Shimmerman, President and CEO, Varicent. “We are especially honored by the recognition that we have received from leaders in our industry. It is a tribute to our dedicated and talented team, and I feel very confident that we are poised to close out the final quarter of 2010 with continued success.”

Over the course of Q3, Varicent continued to drive growth in the business with ten new customer acquisitions from industries including Technology, Medical Devices, Retail and Financial Services. This sustained growth trajectory further affirms that Varicent’s sales performance management and incentive compensation solution effectively provides clients improved sales effectiveness, increased revenues and decreased costs around the management and administration of compensation.

In August, Varicent hosted its third Customer Advisory Board gathering at the Four Seasons Hotel in Toronto. Agenda topics focused on developing insights that would assist Varicent in making decisions on upcoming initiatives and strategies. “We are always very pleased to have an opportunity to dialogue with our Customer Advisory Board,” said Brian Hartlen, Vice President, Marketing, Varicent. “Participants provide constructive feedback that allows us to tailor our product and services to meet their needs and to anticipate opportunities for further growth and improvement.”

One of the most exciting achievements of Q3 was Varicent’s ranking in the Deloitte Technology Fast 50. The ranking is based on the percentage of revenue growth over five years and Varicent’s increase in revenues of 40,269 percent from 2005 to 2009 resulted in a number three ranking. Varicent's CEO Dan Shimmerman credits the company’s flagship product Varicent 7 as well as their passionate employees with the company's remarkable evolution. “We are extremely proud of our performance, and quite honored to join this impressive list of some of the country’s most influential and successful technology companies.”

Varicent also received recognition from I Love Rewards as one of Canada’s 50 most engaged workplaces. This annual award recognizes top employers that display leadership and innovation towards engaging their employees. Companies were evaluated based on Eight Elements of Employee Engagement, including Communication, Leadership, Culture, Rewards & Recognition, Professional & Personal Growth, Accountability & Performance, Vision & Values and Corporate Social Responsibility. In addition to this accolade, Varicent was acknowledged as a market leader for the 2010 CRM Market Awards in Incentive Management.

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

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Varicent Software Incorporated
Brian Hartlen

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