TORONTO, August 28 /PRNewswire/ --
- Company Sought Solution to Facilitate Flexible, Changing Incentive Compensation Plans
Varicent Software, an innovator and provider of sales performance management (SPM) solutions, today announced its solution, Varicent SPM, has been selected by medical devices company Smith & Nephew (LSE: SN; NYSE: SNN), to manage, model, analyze and report on incentive compensation plans and sales performance. Varicent SPM was selected after a comprehensive competitive evaluation.
"We have two primary goals in adopting sales performance management," said Mark Towne, Director Global Information Services, Smith & Nephew, Inc. "The first was to find a solution that would allow us to quickly model new plans in order to keep up with the ever changing requirement of our business. The second goal was to select a sales performance management platform that our many divisions can standardize on, making our processes and procedures uniform across the business. Varicent SPM was selected based on their ability to provide us the speed, flexibility and visibility for our sales compensation across all of our business units."
"We are excited to add Smith & Nephew to our growing list of customers," said Brian Hartlen, vice president of marketing, Varicent. "We are pleased that they chose Varicent to be a key contributor to their overall goal of improving sales effectiveness."
Using Varicent SPM, companies can efficiently and effectively manage and automate the process of calculating and reporting variable-based pay, providing more visibility and accountability into one of the organization's largest variable expenses.
In a phased deployment, Smith & Nephew will use Varicent SPM for incentive compensation management (ICM), Territory Management and Quota Planning across the Orthopedics, Endoscopy, and Advanced Wound Management divisions.
About Varicent
Varicent Software Incorporated delivers the most innovative sales performance management solution addressing the needs of business professionals across the entire enterprise. High performing companies relying on Varicent for better visibility and control of their complex variable compensation programs, automating the assignment of territories, the collection and approval of quotas, and reporting and analyzing sales performance include Waste Management, KLA-Tencor, AAA, Sonus Networks, Manpower, American Century Investments, Rogers, About.com (a New York Times company), and many others.
About Smith & Nephew
Smith & Nephew is a global medical technology business, specializing in Orthopedic Reconstruction, Orthopedic Trauma and Clinical Therapies, Endoscopy and Advanced Wound Management products. Smith & Nephew is a global leader in arthroscopy and advanced wound management and is one of the leading global orthopedics companies.
Smith & Nephew is dedicated to helping improve people's lives. The Company prides itself on the strength of its relationships with its surgeons and professional healthcare customers, with whom its name is synonymous with high standards of performance, innovation and trust. The Company operates in 32 countries around the world. Annual sales in 2007 were US$3.4 billion.
Varicent, Varicent SPM and Varicent Composer are trademarks of Varicent Software.
All other trademarks and company names mentioned are the property of their respective owners.
Web site: http://www.varicent.com
Brian Hartlen of Varicent Software, +1-416-987-1241, bhartlen@varicent.com
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