TORONTO--(BUSINESS WIRE)--Varicent Software, an innovator and global leader in providing Incentive Compensation and Sales Performance Management solutions, today announced that it was rated in Gartner’s report entitled “MarketScope for Insurance Incentive Compensation Management Applications.” Varicent was among the 10 vendors evaluated in the report published on December 11, 2010.

According to Steven Leigh, Gartner Analyst and author of the MarketScope report writes that “Custom-built ICM systems, ICM functionality in policy administration systems and spreadsheets have proved inefficient, inflexible, expensive and inadequate to support the compensation-processing requirements of many insurers, and can pose liabilities to ensuring good governance over variable pay expenses.”

“Varicent’s customers including ING and Farmers Insurance are benefiting from the functionality our incentive compensation solutions bring to the insurance industry,” said Brian Hartlen, Vice-President, Marketing, Varicent. “We are pleased to be included in the MarketScope, and feel that Varicent’s inclusion affirms our success to date, and our ongoing commitment to providing insurance organizations solutions that meet their unique requirements.”

Varicent helps insurance companies of all sizes improve the management of commission plans/contracts. We help insurance organizations by bringing automation, analysis and accuracy to managing incentive compensation. Using Varicent, organizations can ensure that goals are aligned with business objectives and drive the desired producer behavior.

MarketScope Disclaimer

The MarketScope is copyrighted 2010 by Gartner, Inc. and is reused with permission. The MarketScope is an evaluation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the MarketScope, and does not advise technology users to select only those vendors with the highest rating. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About Varicent Software Incorporated

Varicent Software Incorporated is an innovative software solutions provider delivering measurable improvements to its clients businesses through its industry-leading sales performance management solution Varicent SPM. Varicent's customers are high-performing companies representing a variety of industries and include Covidien, Convoy Financial Group, Dex One, Sherwin-Williams, Manpower, Getty Images, Starwood Hotels, Sun Hung Kai Financial, and many others. For more information, please visit www.varicent.com.

©2010 Varicent Software. All rights reserved. Varicent and Varicent SPM are trademarks of Varicent Software Incorporated.

All other trademarks and company names mentioned are the property of their respective owners.