Synygy, the largest and most experienced provider of incentive compensation management (ICM) and other sales performance management (SPM) solutions, today announced results for the period ending December 31, 2012, reporting growth in revenue and profitability, and highlighting the launch of the new Optymyze™ software platform.
The company reported double-digit increases in annual revenue, driven by growth in both its software and its services businesses, and double-digit profitability, with EBITDA rising six percentage points over the prior year.
Synygy also reported a record level of software licensing revenue, which nearly tripled over the past three years, and a record level of planning, design, implementation, consulting, and other non-subscription services revenue, which more than doubled over the past three years.
“We are very pleased with the growth in our software business, in particular,” said Mark A. Stiffler, Synygy’s president and CEO. “Despite large investments in software development and expansion of our sales force, the profitability of the software business drove overall improvements in profitability.”
On the technology front, 2012 saw the release of core applications of Optymyze, a new SPM software platform, including innovative data management, compensation plan management, and advanced analytics capabilities. Designed for ease of use on touch devices like tablets and smart phones, the elegantly simple interface works equally well on a laptop or desktop.
“With Optymyze, our goal was to completely rethink our entire technology platform and user interface from scratch with the cloud and touch devices in mind,” continued Stiffler. “It seems that we have solidly met our goal, with prospects giving Optymyze rave reviews for its mobility, simplicity, configurability, and reporting and analytics capabilities.”
In addition to several significant expansions among existing clients, last year the company continued to expand its global footprint and build on its success in key sectors by signing new clients that include:
• a Fortune 100 technology wholesaler and distributor;
• a top 20 commercial bank in the Middle East;
• a well-respected North American financial advisory firm;
• a large regional provider of life insurance;
• industrial distribution businesses;
• pharmaceutical companies.
“Synygy entered 2013 with a new technology platform, multiple new service offerings, and a global team of professionals with an unmatched depth and breadth of experience in solving complex incentive compensation challenges for large companies,” Stiffler added. “As a result, the outlook for both our software and our services businesses is very positive.”
Synygy® and Optymyze™ are trademarks and service marks owned or licensed by Synygy, Inc.
Synygy (synygy.com) is the largest and most experienced provider of incentive compensation management (ICM) and related sales performance management (SPM) software and services. Synygy’s SPM Business Platform uniquely combines technology enablement, standards and best practices, and continuous improvement to deliver solutions that significantly improve sales operations efficiency and sales force effectiveness. A technology leader with a broad set of fully integrated, configurable, off-the-shelf software products, Synygy also provides a wide range of services that include planning, design, implementation, support, outsourcing, and consulting and has successfully deployed thousands of ICM and SPM solutions for many of the world’s largest companies. With 550 employees across America, Europe, and Asia, Synygy has the global resources and capabilities to solve the most complex sales operations challenges.