Synygy Reports High Rate of Sustained Growth in Third Quarter
Chester, Pa., November 2, 2011 — Synygy Inc., the largest and most experienced provider of sales compensation management (SCM) and other sales performance management (SPM) software and services, today announced its quarterly results, reporting a high rate of sustained growth for the period ending September 30, 2011.
Synygy experienced revenue increases of 28% for the year-over-year third quarter, which was driven by a 66% increase in non-subscription revenue due to continued strength in acquiring new clients. Despite the additional costs associated with the high rate of revenue growth, Synygy remains profitable.
The company also reaffirmed its commitment to corporate social responsibility with a ten-year lease extension on its Chester, PA headquarters, which is situated in a formerly abandoned but historically significant power plant. Synygy’s pioneering leadership in urban revitalization ten years ago triggered a $500 million riverfront redevelopment effort that transformed a previously blighted area into a destination that now includes offices, a professional soccer stadium, a casino, and related infrastructure.
Other notable accomplishments for the quarter include:
- the signing of a large national cable entertainment and broadband communications company for SCM software and BPO services
- agreements for SCM software and BPO services with two medical devices companies, augmenting Synygy’s dominant position in this industry vertical
- completion of five new, very large system implementations
- business expansions at existing clients in North America as well as Western and Eastern Europe
- being named a leader in ‘Incentive Management’ in CRM Magazine’s ‘2011 CRM Market Awards’
- presenting a well-received quota setting workshop at WorldAtWork’s Spotlight on Sales Compensation Conference
On the software front, tools and capabilities that provide an even more efficient and richer experience for sales managers, salespeople, and administrative users were rolled out, including:
- territory management enhancements, including integrated street-level mapping
- additional full-featured sales coaching and performance management tools
- extended, fully-configurable dashboard alert capabilities
- increased modeling functionality
- expanded finance and accounting-related capabilities
- self-service onboarding and other workflow applications for insurers and other industries with lifecycle management, licensing, and accreditation needs
“Synygy continues to experience a sustained record pace of revenue growth and new client acquisition,” said Mark A. Stiffler, Synygy president and CEO. “We attribute our success to our award-winning, comprehensive, end-to-end software and the ability of clients to choose business process outsourcing as an alternative to software, with outsourcing significantly cutting the cost and time to implement a solution for managing sales compensation and other sales operations functions for our clients.”
