NewswireToday - /newswire/ -
Chester, PA, United States, 2012/08/06 - Synygy, announced its quarterly results for the period ending June 30, 2012, reporting sustained strong growth in both its software and services businesses - Synygy.com.
Synygy, the largest and most experienced provider of sales compensation management (SCM) and other sales performance management (SPM) solutions, today announced its quarterly results for the period ending June 30, 2012, reporting sustained strong growth in both its software and services businesses.
Synygy’s continued success is reflected in key measures of performance:
• 20% growth in total revenue for the second quarter versus the same quarter last year, enabled by software services subscriptions and achieved without any up-front software license revenue;
• sustained year-over-year growth in implementation services revenue of 51% for the most recent twelve months versus the preceding twelve months;
• accelerating growth of managed configuration services subscriptions of 184% year-to-date versus the same period in the prior year.
“The primary drivers of growth continue to be our broad set of integrated SPM applications, our focus on sales compensation management as the core of SPM, and our professional services group, which is the largest in the SPM industry,” said Mark A. Stiffler, Synygy president & CEO. “These factors allow our clients to get ‘above the cloud’ with a complete solution that includes software products, implementation services, and optional post-implementation services, all from a single partner.”
Other key accomplishments experienced during the second quarter included:
• the signing of two new seven-figure contracts in the financial and insurance sectors, beating out competitors known for their strength in these industries;
• designation as a ‘hot vendor’ in Ventana Research’s 2012 SPM Value Index;
• expansion of our global software footprint with completed implementations in Canada, Europe, and Latin America;
• growth of our software development staff to a record level of nearly 160 people, the largest such group focused on developing SCM and related SPM applications.
“In the second quarter, we had many large implementations go live, and looking forward, we see continued strength in the business as in-process implementations go live,” added Stiffler. “In addition, our future growth will be especially driven by the release of the new Optymyze™ technology platform and the rapid rollout of a growing set of Optymyze applications, which are all designed for mobile devices with an identical and radically simplified touch user interface.”
For more information on Synygy’s sales performance management business platform, visit synygy.com/.