TORONTO--(BUSINESS WIRE)--Varicent, the leading provider of next generation Sales Performance Management (SPM) software, today announced Varicent (IBM) has been named a Leader in the 2020 Gartner Magic Quadrant for Sales Performance Management.* Varicent has been positioned highest on the Report’s Ability to Execute vertical axis, and has improved its position on the horizontal Completeness of Vision axis compared to the previous year. This is the seventh time in a row that Varicent has been positioned as a Leader in the Gartner Magic Quadrant for Sales Performance Management.
“We believe being named a Leader by Gartner for the seventh time is a credit to both to our customers’ success and the commitment of the entire Varicent team,” said Marc Altshuller, President and CEO of Varicent. “We are living in the Evidence Economy, and today’s winners understand that the key to success with data is evaluating it in context. SPM data has untapped strategic potential and, when Varicent is used to apply critical context, that data can then be used as evidence, for more accurate decisions that allow organizations to outperform competitors.
"Varicent’s unique functionality enables our customers to attract and retain the best talent, reward the most effective sales behaviors, reveal blind spots, and create more predictable expense and revenue cycles,” said Altshuller.
This year’s report by Gartner notes, “The sales performance management market grew 14%, to $1.099 billion, in 2019. Application leaders supporting sales technology should focus on operational excellence and use advanced analytics with machine learning to increase and maximize operational and planning effectiveness.”
Varicent SPM, along with the newly acquired augmented intelligence technologies of Symon.AI™, is designed to enable chief financial officers (CFO), chief revenue officers (CRO), and professionals across sales, sales operations, finance, HR and compensation in enterprises and mid-size corporations to make more accurate management decisions and grow revenue faster than ever before. Varicent gives management and sales teams the tools that allow laser focus on replicating and rewarding what works, stopping what doesn’t, and having the contextual data evidence needed to know, not guess, which decisions will increase revenue.
The Varicent platform includes Incentive Compensation Management (ICM), territory management and quota management capabilities. It employs natural language processing (NLP) and superior visualizations to uncover and highlight data anomalies, trends and predictions. The platform also employs machine learning (ML) to enable dispute resolution.
Read a complimentary copy of the Gartner 2020 Magic Quadrant for Sales Performance Management: http://gartner.varicent.com/
Source: Gartner, Magic Quadrant for Sales Performance Management, Melissa Hilbert, 18 February 2020.
*Varicent was previously listed as IBM because Varicent purchased all of the assets of IBM’s SPM solution as of 31 December 2019.
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Varicent is the leading provider of Smart SPM (sales performance management) cloud-enabled software for mid-market and enterprise companies in any industry. Its augmented intelligence powered platform enables customers to quickly and easily see and address sales trends, problem areas, and opportunities, by predicting outcomes and prescribing actions to optimize revenue. Varicent pioneered incentive compensation and sales performance software that helps customers manage highly complex compensation plans, territories and revenue goals.
Varicent, Varicent Software, Varicent SPM, Symon.AI and Smart SPM are trademarks or registered trademarks of Varicent Software in the USA, Canada and other countries.