Varicent Strengths, Domain Expertise, and Key Differentiators
Founded in 2005, Varicent pioneered incentive compensation and sales performance software. The Company, to be headquartered in Toronto, intends to provide SaaS-enabled operational and analytical tools through IBM Cloud that automate the creation, calculation, analysis, and transparent distribution of sales incentive management compensation plans used by hundreds of mid-market and enterprise companies.
Varicent Recent Developments
In May 2021, Varicent, a provider of Sales Performance Management (SPM) software, announced at their Spring Summit the addition of new solution, Varicent Territory and Quota Planning (TQP) to their breadth of SPM offerings. The company also showcased the evolution of their revenue intelligence offering, Varicent Lift, through the integration of Symon.AI to bring unprecedented revenue intelligence capabilities to organizations worldwide. Most notably, Varicent presented a ground-breaking partnership with The Alexander Group (AGI) with the announcement and availability of The Symon.AI Benchmarking App.
The Company expects that its integrated platform will help solve critical pain points for sales, finance, and HR constituents by centralizing previously complex, time-consuming, and manual compensation processes to gain analytical insights and align sales behaviors to strategic goals. Varicent's unique software is designed for the end-user and is configurable to any industry or variable compensation model.
Varicent Mergers and Acquisitions (M&A) Activities
In August 2021, Varicent, a provider of incentive compensation and sales performance management solutions, acquired Concert Finance (Concert), an innovative provider of commissions software designed by compensation experts. The move to acquire Concert Finance first started in May 2021 when Concert was looking to scale its rapid growth, and Varicent was looking to expand its Incentive Compensation Management (ICM) portfolio into the SMB market. The deal closed on July 9, 2021.
In October 2020, Varicent announced that it has acquired the FunnelCake solution for the strategic expansion of Varicent’s sales performance management product line, helping clients maximize capabilities to Plan, Operate, and Pay. FunnelCake is a Revenue Operations Platform that helps customers drive efficient growth across sales, marketing, and customer success. From lead to revenue, FunnelCake enhances the CRM ecosystem to improve information. Delivering new levels of accurate data for analytics means better actions and outcomes for sales teams. Results improve pipeline health across sales and marketing for improved lead response time, continuity of account ownership, maximized opportunity engagement, and improved coaching moments.
In January 2020, Varicent, a provider of next generation Sales Performance Management (SPM), announced that it has acquired Symon.AI, a visionary technology platform built on sophisticated Natural Language and Machine Learning algorithms that provide easy to use, advanced analytics to business users and data scientists alike. The acquisition brings to the Varicent SPM platform a full suite of data connectors, data preparation and augmented intelligence features. With the addition of Symon.AI, Varicent leapfrogs the competition to enable more effective compensation plans, better optimized territories and quotas, and higher performing sales teams in radically less time.
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.
Ownership: - Great Hill Partners, Spectrum Equity
Number of Employees: 500
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communication, Construction, Real Estate, Consumer Packaged Goods, Distribution, Healthcare, Life Insurance, P&C Insurance, Specialty Insurance, Leisure and Recreation, Hospitality, Life Sciences, Manufacturing, Media, Oil and Gas, Chemicals, Professional Services, Retail, Transportation, Utilities,
Varicent Key Enterprise and Cloud Applications
Varicent, Varicent Software, Symon.AI and Smart SPM
Varicent Revenues, $M:
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* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Varicent Revenue Breakdown By Type, $M:
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Varicent Enterprise Applications Revenues By Functional Markets, $M:
Varicent Enterprise Applications Revenues By Verticals, $M:
Varicent Revenues By Region, $M
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Varicent Direct vs Indirect sales
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Varicent Customers - Breakdown by Geo, Size, Vertical and Product
No. of Varicent Customers: 300
No. of Varicent Enterprise Applications Customers: 300
No. of Varicent Cloud Customers: x
No. of Varicent Cloud Subscribers: x
Providing Sales Performance Management Solutions to mid-sized and enterprise businesses globally. Among its customers are 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 many others.
Varicent Market Opportunities, M&A and Geo Expansions
In May 2021, Varicent, a provider of next generation Sales Performance Management (SPM) software, announced a series of strong additions to their leadership team. Marcus Hearne joined the company as its Chief Marketing Officer, Kimberly Deobald as General Manager, Symon.AI, and Colin Wong as General Manager, Financial Services. As Chief Marketing Officer, Marcus Hearne oversees all global marketing and brand initiatives for the company. Colin Wong, a previous Varicent customer, brings his unique perspective and experience to enhance Varicent’s connection with their financial services customers. While Kimberly Deobald drives the direct and indirect sales strategy for Symon.AI, driving sustainable growth and ensuring high levels of customer value.
In January 2020 Varicent Software completed the acquisition of IBM’s Sales Performance Management Offering and associated assets and relaunched as an independent company led by former IBM and Varicent executives after being acquired by growth-oriented private equity firms Great Hill Partners and Spectrum Equity. Varicent immediately becomes a provider of SaaS-enabled operational and analytical tools that helps companies to assess and enhance sales performance. Varicent revolutionized how companies track sales performance and support incentive compensation plans that are configurable to any industry or variable compensation model. Through this intuitive software, Varicent will serve a variety of mid-market and enterprise companies by continuing to revolutionize the creation, calculation, analysis, and distribution of sales incentive management compensation plans.
Varicent Risks and Challenges
Change in leadership could lead to a new Go-To-Market strategy.
Varicent Ecosystem, Partners, Resellers and SI
Varicent's partners are available to assist in system integration and additional application offerings. Among its 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 many others.
Varicent Cloud Infrastructure Insights
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- Varicent Public Cloud and Infrastructure (IaaS)
- Varicent Platform (PaaS)
- Varicent Application Delivery
- Varicent Private Cloud and Data Centers
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).
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