Varicent Named Top-Tier Software Vendor by APPS RUN THE WORLD in the APPS and CLOUD TOP 500 Market Report

Varicent Strengths, Domain Expertise, and Key Differentiators

Established in 2005, Varicent emerged as a trailblazer in incentive compensation and sales performance software. The company, with its headquarters in Toronto, aims to deliver SaaS-enabled operational and analytical tools via IBM Cloud. These tools automate the process of creating, calculating, analyzing, and transparently distributing sales incentive management compensation plans. Varicent's solutions cater to the needs of hundreds of mid-market and enterprise companies.

Varicent Recent Developments

In May 2021, Varicent unveiled the expansion of its suite of Sales Performance Management (SPM) solutions during its Spring Summit. Among the highlights was the introduction of Varicent Territory and Quota Planning (TQP), augmenting their array of offerings. Additionally, Varicent showcased the advancement of its revenue intelligence solution, Varicent Lift, by integrating Symon.AI, thereby enhancing revenue intelligence capabilities for organizations globally. A notable development was Varicent's collaboration with The Alexander Group (AGI), marked by the debut and availability of The Symon.AI Benchmarking App.

The Company anticipates that its integrated platform will address significant challenges faced by sales, finance, and HR stakeholders. By centralizing formerly intricate, time-consuming, and manual compensation processes, the platform aims to provide analytical insights and align sales behaviors with strategic objectives. Varicent's distinctive software prioritizes user experience and is adaptable to various industries or compensation models.

Varicent Mergers and Acquisitions (M&A) Activities

In August 2021, Varicent completed the acquisition of Concert Finance (Concert). The process of acquiring Concert Finance commenced in May 2021, when Concert sought to scale its rapid growth, coinciding with Varicent's aim to broaden its Incentive Compensation Management (ICM) portfolio within the SMB market. The acquisition deal was finalized on July 9, 2021.

In October 2020, Varicent disclosed its acquisition of the FunnelCake solution, strategically expanding Varicent’s sales performance management product line. This acquisition aims to empower clients in maximizing capabilities across Planning, Operating, and Paying aspects. FunnelCake, renowned as a Revenue Operations Platform, assists customers in driving efficient growth across sales, marketing, and customer success functions. From lead to revenue, FunnelCake augments the CRM ecosystem to enhance data accuracy, consequently enabling better-informed decisions. By delivering heightened levels of precise data for analytics, FunnelCake facilitates improved actions and outcomes for sales teams. The results include enhanced pipeline health across sales and marketing efforts, leading to improved lead response times, continuity in account ownership, maximized opportunity engagement, and enhanced coaching opportunities.

In January 2020, Varicent disclosed its acquisition of Symon.AI, a pioneering technology platform leveraging sophisticated Natural Language and Machine Learning algorithms to deliver advanced analytics accessible to both business users and data scientists. This strategic acquisition enriches the Varicent Sales Performance Management (SPM) platform with a comprehensive suite of data connectors, data preparation, and augmented intelligence capabilities. By integrating Symon.AI, Varicent positions itself ahead of competitors, empowering the facilitation of more effective compensation plans, optimized territories and quotas, and improving sales team performance in significantly reduced time frames.

Varicent Customers in ARTW Customer Database

Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Varicent applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Varicent and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Varicent, Varicent Software, Symon.AI and Smart SPM customers.

Varicent Key Enterprise and Cloud Applications

Varicent, Varicent Software, Symon.AI and Smart SPM

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Varicent Direct vs Indirect sales

Varicent Customers - Breakdown by Geo, Size, Vertical and Product

List of Verified Varicent Customers

No. of Varicent Customers: 300

No. of Varicent Enterprise Applications Customers: 300

No. of Varicent Cloud Customers: x

No. of Varicent Cloud Subscribers: x

Varicent offers Sales Performance Management Solutions to mid-sized and enterprise businesses worldwide. Its clientele includes companies such as Holt Renfrew, T-Mobile, Carnival, Siemens Healthineers, GettyImages, ThermoFisher Scientific, United Rentals, Tektronix, Asset Marketing Services Inc, HughesNet, UDT Accomplish Mode, DXL Men's Apparel, Wawanesa Insurance, Quantum, Colt, Moody's Analytics, Shopify, and numerous others.

Varicent Market Opportunities, M&A and Geo Expansions

In May 2021, Varicent unveiled a significant reinforcement of its leadership cadre. Marcus Hearne assumed the role of Chief Marketing Officer, Kimberly Deobald was appointed General Manager of Symon.AI, and Colin Wong took on the position of General Manager of Financial Services. As Chief Marketing Officer, Marcus Hearne spearheads all global marketing and brand initiatives for the company. Drawing from his prior experience as a Varicent customer, Colin Wong brings a distinctive perspective to augment Varicent’s engagement with financial services clientele. Kimberly Deobald, in her capacity as General Manager of Symon.AI, drives both direct and indirect sales strategies, focusing on sustainable growth and delivering substantial customer value.

In January 2020, Varicent Software concluded the acquisition of IBM’s Sales Performance Management Offering and related assets. Following this transaction, Varicent emerged as an independent entity, helmed by former IBM and Varicent executives, after its acquisition by growth-focused private equity firms Great Hill Partners and Spectrum Equity. With this transition, Varicent now offers cutting-edge SaaS-enabled operational and analytical tools designed to empower companies in evaluating and optimizing sales performance. Varicent's innovative approach has transformed how organizations monitor sales performance and administer incentive compensation plans, adaptable to diverse industries and compensation models. Leveraging this intuitive software, Varicent is poised to serve a wide spectrum of mid-market and enterprise clients, revolutionizing the creation, calculation, analysis, and distribution of sales incentive management compensation plans.

Varicent Risks and Challenges

The appointment of Jason Loh as Chief Product Officer (CPO) in January 2022 introduces a potential risk factor for Varicent. Jason, who brings a wealth of experience from his previous role as Global Head of Sales and Marketing Solutions at Anaplan, will now oversee Varicent's overall product strategy and vision. With his leadership, there may be a shift in product growth and design initiatives, closely aligned with Varicent's sales and marketing teams. While Jason's expertise promises to contribute significantly to Varicent's objectives, there is an inherent risk associated with the introduction of a new leader, particularly in terms of potential deviations from established corporate strategies and the need for effective integration with existing teams and processes. Additionally, Jason's extensive background at prominent companies like Oracle, Apttus, and SAP may bring forth diverse perspectives that could either enhance or disrupt Varicent's current operational framework. Therefore, the transition under Jason's leadership warrants careful management to mitigate any potential risks and ensure a smooth alignment with Varicent's overarching corporate mission.

A shift in leadership may result in the formulation of a fresh Go-To-Market strategy.

Varicent Ecosystem, Partners, Resellers and SI

Varicent collaborates with a range of partners who provide support for system integration and offer supplementary applications. Notable among these partners are Amazon AWS, Better Sales Comp, BGFi Analytics, BIConcepts, Blue Horizons Group, Everis, IBM Cloud, InnoVyne, Intangent, Lanshore, Neitek, Opensymmetry, Polarys, Pronostica, RCI, SalesGlobe, Skoruz, The Global Sales Operations Association, Spectrum Technologies, WorkCentive, ZS, and numerous others.

Varicent Cloud Infrastructure Insights

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• Varicent Public Cloud and Infrastructure (IaaS)
• Varicent Platform (PaaS)
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• Varicent Private Cloud and Data Centers

Research Methodology

Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.

Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).

For additional information on our methodologies, here's the link: