Synygy Continues Growth Streak in Second Quarter
Expanded Focus on Sales Operations Management (SOM) is Major Contributor to Growth
Chester, Pa., August 6, 2008 –Synygy, Inc., a recognized authority on sales performance and the most experienced provider of sales compensation management (SCM) solutions, today reported results for the period ending June 30, 2008.
Synygy recorded another consecutive quarter of solid growth, with revenue and profit all higher than the same period in the previous year. The company’s financial strength going into the next quarter is exceptional, with over 90% of total revenue for the third quarter of 2007 already booked for the third quarter in 2008, largely due to Synygy’s high recurring revenue from its on-demand software, on-demand staffing, and outsourcing services solutions.
In addition to growth in Synygy’s core SCM business, a major contributor to the company’s overall growth was a 62% increase in the sale of Sales Operations Management (SOM) solutions for driving sales performance and sales force effectiveness, including software and services for managing sales territories and channels, sales quotas, sales objectives, sales metrics and analytics, sales data processes, sales reporting, sales analysis, and sales communications.
Other second quarter accomplishments include:
- Synygy renewed or expanded its SCM business with 14 existing clients, including three of the largest pharmaceutical companies and two telecommunications giants.
- Synygy again earned an overall client satisfaction score of “excellent” for the quarter, exceeding 4.0 out of 5.0 possible points on a range of matters—from professionalism and responsiveness to the likelihood of clients recommending Synygy solutions to how well Synygy enabled clients to accurately and effectively align their strategy and sales compensation plans.
- Synygy’s recent global opinion survey concluded that our workforce is highly engaged and enthusiastic to serve our clients and overwhelmingly would recommend our products and services.
- The spring SYNYGY SALES PERFORMANCE CONFERENCE attracted hundreds of attendees from more than fifty of the world’s largest technology, pharmaceutical, telecommunications, financial services, and other companies.
“We are very pleased by our high client retention and renewal rate, the growth in our on-demand SCM business, and the impressive growth in our SOM business,” said Mark A. Stiffler, president and CEO. “We are also pleased that our business model has created a large, solid base of recurring revenue that gives us a predicable view into future financial performance.”
About Synygy
Synygy, Inc. created the sales compensation management (SCM) market and is the most experienced provider of SCM solutions. Based in Chester, Pennsylvania and with extensive operations in Europe and Asia, Synygy has achieved 17 consecutive years of success.
Synygy’s software and services eliminate the problems of strategic misalignment because of an inability to design, model, implement, and manage the sales compensation plans that companies desire; misunderstood plans and inaccurate results that fail to drive needed sales force behaviors; lack of management information that fails to provide visibility into the effectiveness of strategy execution; and an inability to quickly adapt to change that limits enhancements to strategy and associated plan modifications. www.synygy.com
