MEDIA RELEASE PR36709
Absa Life Adopts Varicent SPM to Drive Improvements In Their Compensation Management
Processes
TORONTO, Oct. 22 /PRNewswire-AsiaNet/ --
One of South Africa's largest financial services groups selects Varicent to
manage their incentive compensation and sales performance management needs
The industry leader in providing incentive compensation (ICM) and sales performance
management (SPM) solutions, Varicent Software Incorporated, is excited to announce that
Absa Life has adopted Varicent SPM to improve their sales effectiveness. Absa Life is
part of the Absa Group, one of South Africa's largest financial services.
"Varicent's superb application provides us with the flexibility and system
configurability that can quickly adapt to our changing incentive compensation and sales
performance management needs," said Izak Smit, Managing Director of Absa Life. "We are
convinced that their solution, will not only meet our needs today, but also well into
the future."
By selecting Varicent's solution, Absa Life will have a single solution that can
manage their incentive compensation needs. These include:
-- Quickly model and change plans and analyze the impact of those changes
-- Provide historical analysis of performance
-- Forecast expectations and the impact on future sales
"Absa Life's adoption of our software extends our reach in the EMEA region and
furthers our penetration in the banking industry, both of which are key markets for
Varicent," said Andrew Armstrong, Vice President and General Manager International,
Varicent Software. "We look forward to working with Absa Life as they drive improvements
in their compensation management processes."
About Absa Life
Absa Life is part of the Absa Group. Absa Life is a diversified business serving
personal, commercial and corporate customers and is the seventh largest Life Assurer in
South Africa based on net premium income*.
The Absa Group Limited is one of South Africa's largest financial services
organisations, serving personal, commercial and corporate customers in South Africa.
The Group interacts with its customers through a combination of physical and
electronic channels, offering a comprehensive range of banking services, (from basic
products and services for the low-income personal market to customised solutions for the
commercial and corporate markets), bancassurance and wealth management products and
services.
*KPMG Insurance Industry Survey 2007
About Varicent Software Incorporated
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, Convoy Financial Group, Sherwin-Williams,
Manpower, Autodesk, Getty Images, Starwood Hotels, Sun Hung Kai Financial, and many
(c)2009 Varicent Software. All rights reserved. Varicent and Varicent SPM are
trademarks of Varicent Software Incorporated.
All other trademarks and company names mentioned are the property of their
respective owners.
Contact: Brian Hartlen
Varicent Software
T: 1.416.987.1241
E: bhartlen@varicent.com
SOURCE: Varicent Software Incorporated
CONTACT: Brian Hartlen
Varicent Software
+1-416-987-1241
bhartlen@varicent.com
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