The acquisition will help IBM to drive
analytics capabilities into the hands of front line employees to
transform business operations and ultimately improve the bottom line.
IBM announced a definitive agreement to acquire privately held Varicent Software Incorporated, a provider of analytics software for compensation and sales performance management.
Toronto-based Varicent software automates and analyzes the collection and reporting of sales data across finance, sales, human resources and IT departments to gain efficiencies, uncover trends and improve sales performance.
“The acquisition of Varicent advances our efforts to drive analytics capabilities into the hands of front line employees to transform business operations and ultimately improve the bottom line,” said Les Rechan, General Manager, Business Analytics, IBM.
IBM said that the acquisition accelerates its Smarter Analytics capabilities across line of business operations in all industries, and will be combined with its existing software offerings that are delivered to clients through on-premise or cloud computing models.
“Sales Performance Management is still viewed by many in the industry as an art versus a science, but there is plenty of opportunity for this mind set to change,” said Dan Shimmerman, president and CEO, Varicent.
With growing volumes of data, companies are increasingly looking for ways to automate and gain faster, more accurate intelligence on sales and financial management data in order to increase competitiveness.
According to Gartner, organizations that adopt compensation management solutions can expect to reduce errors by more than 90 percent and reduce processing times by more than 40 percent.
Founded in 2003, Varicent has more than 180 customers using its software, including Starwood Hotels, Covidien, Dex One, Manpower, Hertz, Office Depot and Farmers.
IBM will combine Varicent with its R&D and prior acquisitions including Algorithmics, Clarity Systems, OpenPages, Cognos and SPSS, to expand its capabilities in business analytics and optimization across finance, sales, and customer service operations.
IBM announced a definitive agreement to acquire privately held Varicent Software Incorporated, a provider of analytics software for compensation and sales performance management.
Toronto-based Varicent software automates and analyzes the collection and reporting of sales data across finance, sales, human resources and IT departments to gain efficiencies, uncover trends and improve sales performance.
“The acquisition of Varicent advances our efforts to drive analytics capabilities into the hands of front line employees to transform business operations and ultimately improve the bottom line,” said Les Rechan, General Manager, Business Analytics, IBM.
IBM said that the acquisition accelerates its Smarter Analytics capabilities across line of business operations in all industries, and will be combined with its existing software offerings that are delivered to clients through on-premise or cloud computing models.
“Sales Performance Management is still viewed by many in the industry as an art versus a science, but there is plenty of opportunity for this mind set to change,” said Dan Shimmerman, president and CEO, Varicent.
With growing volumes of data, companies are increasingly looking for ways to automate and gain faster, more accurate intelligence on sales and financial management data in order to increase competitiveness.
According to Gartner, organizations that adopt compensation management solutions can expect to reduce errors by more than 90 percent and reduce processing times by more than 40 percent.
Founded in 2003, Varicent has more than 180 customers using its software, including Starwood Hotels, Covidien, Dex One, Manpower, Hertz, Office Depot and Farmers.
IBM will combine Varicent with its R&D and prior acquisitions including Algorithmics, Clarity Systems, OpenPages, Cognos and SPSS, to expand its capabilities in business analytics and optimization across finance, sales, and customer service operations.
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