Selects Leading Sales Performance Management Solution, Leveraging Incentive Compensation Management, Advanced Analytics and Quota Planning, For Strategic Corporate Insight; Anticipates Superior ROI
Toronto – August 13, 2007– Varicent Software, the only provider of complete solutions for sales performance management (SPM), today announced it has been selected by Spectra Logic, the leading innovator in data archive and backup. Spectra Logic has turned to Varicent’s flagship product, Varicent SPM, to bring visibility and foresight into the company’s sales, growing revenue and strategic planning.
“While one of our key requirements for Spectra Logic’s SPM implementation was accurate commission management for our outside representatives, we wanted even more out of SPM,” said Brian Rome, CFO, Spectra Logic. “Specifically, we required an SPM solution that delivered scenario planning and analytics that would enable us to see what investments in sales are actually driving revenue growth.”
Like many well established companies, Spectra Logic had stringent requirements for the system, conducted rigorous due diligence before selecting Varicent SPM over competing products from Callidus, Centive and Xactly.
After seeing a customized Proof-of-Concept demonstration, featuring Varicent SPM, Spectra Logic compared the product features to both their requirements and competing solutions. With Varicent SPM’s ability to automate and control incentive compensation calculations, model territories and quotas and perform advanced analytics for better strategic insight and aligning corporate goals with individual performance, Spectra Logic realized Varicent SPM more than met its needs.
Based on its rigorous and conservative ROI analysis, Spectra Logic anticipates that the strategic insight in compensation plans, territories and quotas delivered by Varicent SPM, will have a significant impact on the company. “We wanted to be sure that our investment in Varicent would not only pay for itself, but also contribute to the bottom line,” stated Rome.
“This system will also allow our sales force to have greater visibility to sales data on a near real time basis, in addition to their commission calculations; helping them maximize their earning potential while driving sales,” continued Rome.
Another consideration for Spectra Logic was Varicent’s on-premise offering. Spectra Logic wanted to avoid performance, security and other concerns of a SaaS (software-as-a-service) solution. Rome added “We believe we will also get more value from Varicent SPM over the life of the system with the solution on site.”
As Spectra Logic continues its roll out of Varicent SPM, the company will use the software for visibility into Spectra Logic’s current and future sales quotas. With Varicent SPM, Spectra Logic will better understand how the sales force meets its quotas, who delivers on the quotas, how best to structure the sales force, and what product areas the company should focus on. Ultimately, this leads to a more nimble organization, making strategic decisions that drive revenue growth.
“Sales performance management is not just about solving the pain of commission calculation,” said Marc Altshuller, executive vice president, worldwide field operations, Varicent. “Rather, sales performance management is a key component for maximizing revenue, remaining ultra competitive, and having business foresight. Spectra Logic is the perfect example of a leading Varicent customer realizing the complete opportunity of the software.”
Sales performance management focuses on sales planning, modeling and dashboarding for territory management, quota planning, commission and incentive compensation calculations and management, and sales performance analytics. Varicent’s flagship product, Varicent SPM, helps companies better manage, measure and understand the economic impact of their variable compensation programs.
About Spectra Logic Corporation
Spectra Logic is the leading innovator in data archive and backup. The company helps customers all over the world protect data better with hardware and software products that enable users to reduce risk, lower cost and save time. Spectra Logic’s archive and backup products are designed specifically for secondary storage needs, are compatible with every major tape and disk format, and come with integrated encryption and key management options through the intuitive BlueScale operating system and management interface. The company’s tape, disk and encryption solutions are designed to evolve over time and make an excellent investment for IT managers who are projecting growth and planning for many years into the future. Since Spectra Logic was founded in 1979, several innovative creations and industry-first products have been introduced to the market, including: Archive and Backup Services (nTier-2007); hardware-based, VTL encryption with compression (RXT-2006); and hardware-based, library-enabled encryption with compression (BlueScale Encryption-2005); and integrated tape and disk in a single library (Spectra T950 with RXT-2004). For more information, contact Spectra Logic at spectralogic.com or (800) 833-1132.
Varicent Software Incorporated delivers the only complete sales performance management solution addressing the needs of the entire corporation. High performing companies relying on Varicent for better visibility and control of variable compensation programs include KLA-Tencor (NASDAQ: KLAC), Starwood Hotels and Resorts (NYSE: HOT), Waste Management (NYSE: WMI), Rogers (NYSE: RG), About.com (a New York Times Company), Pacific Blue Cross and other leading organizations.
©2007 Varicent Software. All rights reserved. Varicent and Varicent SPM are trademarks of Varicent Software.
All other trademarks and company names mentioned are the property of their respective owners.