CHESTER, Pa.--(BUSINESS WIRE)--Synygy, the largest and most experienced provider of sales compensation management (SCM) and other sales performance management (SPM) solutions, today announced results for the period ending December 31, 2011, reporting another record quarter and year for the company, and revealed plans to grow its staff to in excess of 600 people over the next six months.
Strong demand for Synygy’s SCM and other SPM software drove a 50 percent growth in its implementation services business in the fourth quarter of 2011 versus the same quarter in 2010 to a record high, reflecting the combination of a near-record rate of new client acquisition and a record-high average deal size in 2011. Synygy also experienced a near tripling of its subscription-based managed support business in the fourth quarter versus the same quarter in the prior year.
Industry and geographic diversification continued to characterize Synygy’s client growth in 2011, including clients in retail, technology, pharmaceuticals, business services, telecommunications, financial services, manufacturing, and distribution. A record number of completed implementations contributed to increases in both subscription and total revenue in 2011 versus the prior year.
“Synygy’s focus is on solving the most complex sales compensation management and related sales operations problems for the world’s largest companies,” said Mark A. Stiffler, president and CEO of Synygy. “Our unique three-pronged approach to SPM, namely the combining of technology enablement, standards and best practices, and continuous improvement into a single business platform, not only garnered us an impressive set of new clients, but some gratifying industry accolades too.”
Noteworthy recognition in 2011 included:
- SIIA’s 2011 CODiE Award for ‘Best Human Capital Management Solution’
- ‘Hot Vendor’ designation in Ventana Research’s Sales Performance Management Value Index
- Inclusion in the 2011 Global Outsourcing 100® list of top service providers
- CRM Magazine’s 2011 Market Leader Award for Incentive Management
- ‘Promising’ rating in Gartner’s 2011 MarketScope for Insurance Incentive Compensation Management
New technologies and capabilities in 2011 included:
- integration of street level mapping, including the ability to initiate workflows from the map environment
- a full-featured sales coaching module that enables sales managers to easily develop reviews, developmental objectives, and access related reporting and training materials
- producer lifecycle management applications for the insurance industry, including automated self-service onboarding, licensing and accreditation, and other modules for brokers and agents
- automated comparisons between live and simulated versions of entire organizational data sets, crediting rules, territory alignments, and all other components of sales performance (i.e., not merely the modeling of compensation plans)
- direct output of accruals, other general ledger entries, and supporting data to more tightly integrate with SAP, Oracle, and other corporate databases
“All signs point to continued, rapid growth in 2012,” Stiffler added. “Our unique approach to getting ‘above the cloud’ is in stark contrast to the ‘in the cloud’ approach of our competitors, which is proving to be a major factor in our significantly increased competitive win rate, and recent third-party research has validated the strong fiscal and business cases for Synygy’s more comprehensive approach.”
About Synygy
Synygy provides a comprehensive Sales Performance Management (SPM) business platform that helps companies get "above the cloud" by delivering technology enablement, standards and best practices, and continuous improvement to effectively optimize sales compensation management (SCM) and related SPM business processes. SPM includes sales data management, sales reporting and analytics, sales workflow process management, quotas and objectives management, and territory and channel management. Based in Chester, Pennsylvania, with extensive operations in Europe and Asia, Synygy has 500 employees worldwide and has achieved more than 21 years of success. http://www.synygy.com