Synygy Announces Second Quarter Results
Chester, Pa., August 04, 2011 —Synygy Inc., the largest and most experienced provider of sales compensation management and other sales performance management (SPM) software and services, today announced strong revenue growth and increased profitability in its second fiscal quarter ending June 30.
Synygy continued a multi-year string of consecutive profitable quarters as a result of continued steady growth in revenue. Notably, non-subscription revenues grew 32% versus the first quarter and grew significantly over the prior year (on top of very high quarterly growth versus the same quarter in both 2010 and 2009).
“Synygy was clearly the provider of choice in the first half of 2011 for medium to large organizations seeking a partner who can handle complex sales compensation programs,” said Mark A. Stiffler, CEO and president of Synygy. “In the second quarter alone, Synygy signed five deals with contract values in excess of $1 million.”
Sales highlights for the second quarter included:
- a multi-year contract with a leading national broadline retailer with over 125,000 participants on variable pay
- agreements with a major medical devices manufacturer in the U.S. and another in Latin America
- the signing of a pharmaceutical company that is commencing a new product launch
- a multi-year deal with a manufacturer of hospital and medical office equipment and pharmaceuticals
- a multi-million dollar expansion in business at an existing client
Other significant accomplishments included:
- a record 14 simultaneous project implementations, each of significant size
- a 7% quarter-over-quarter increase in the company’s professional services headcount (on top of an average increase of 11% per quarter over each of the prior four quarters)
- a 2011 CODiE Business Software Award for Best Human Capital Management Solution
Looking forward, Synygy expects Q3, Q4, and the full-year 2011 to break records for the company, with significant revenue growth and profitability in all areas of the business.
“Synygy is poised to continue its sales and operational successes through the rest of 2011 with a large number of SPM prospects in the sales pipeline and an ever-increasing amount of expertise within our growing professional services group,” added Stiffler. “We expect to have a number of new business wins and exciting technological developments to announce in the coming weeks and months.”
For more information on Synygy’s sales performance management software and services, visit www.synygy.com or e-mail sales@synygy.com.
