Synygy Reports Another Record-Breaking Quarter
Chester, Pa., May 07, 2012 —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 March 31, 2012, reporting a number of positive revenue trends and record-breaking accomplishments for the 21 year old company.
Synygy’s success in the quarter was reflected in several key statistics:
- 35% growth in total revenue for the first quarter versus the same quarter last year
- 68% increase in quarterly implementation services revenue versus last year
- 56% rise in managed support subscriptions during the quarter
“Our software competitors have largely decided to exit the lower margin implementation services business as they dress up their financial statements to be acquired, while Synygy has done exactly the opposite,” said Mark A. Stiffler, Synygy president & CEO. “We doubled our implementation capacity over the past year so that we can provide our clients with a single integrated solution that includes software and implementation services, along with optional software hosting and other ongoing services.”
In addition to welcoming new clients and completing a dozen major implementations during the quarter, the company also accomplished several organizational milestones, including:
- the signing of another eight-digit contract that includes implementation services and ongoing process management, configuration management, and business intelligence services
- the addition of 59 people to the global workforce, bringing the total staff to a record high of 512
- the rollout of a highly scalable system for a client that is processing upwards of two million sales transactions per day and has over 40,000 active software users
- the second quarter in a row of record-breaking implementation services revenue
Synygy said it planned to substantially increase investments in the coming year in several key areas, including international sales, global marketing, software development, and management of patents and other intellectual property.
“We are seeing a significant and sustained increase in the SPM market in general and in the demand for our SPM business platform,” added Stiffler. “At the same time, we have watched as two of our competitors were acquired and their focus on SPM was diluted or morphed by the acquirer, which underscores for us the wisdom of remaining focused on what’s best for our clients, a strategy that has served us well for over two decades.”For more information on Synygy’s sales performance management business platform, visit www.synygy.com or e-mail firstname.lastname@example.org.