TORONTO -- (BUSINESS WIRE) --

Varicent Software Incorporated, the leading innovator and provider of incentive compensation and sales performance management (SPM) solutions, announced today that Phonak, LLC, market leader in hearing instruments in the United States has chosen Varicent Business Edition to improve processes around its sales incentive compensation plans and sales commissions. Phonak will deploy Varicent Business Edition - integrated with Salesforce.com - to its entire sales organization. Phonak will also integrate financial data from SAP into the solution to create a consolidated system for compensation and financial data.

"The value of Varicent Business Edition, and in particular the enhanced efficiencies in operations and finance impressed us," said Peter Knapp, Phonak, Chief Financial Officer. "As our business continues to rapidly grow, it is important to have a scalable, user friendly solution that can be managed and mastered by our compensation analysts."

Phonak was specifically seeking an application that offered integration with Salesforce.com and SAP.

Varicent's solution for Phonak will provide:

• Visibility into sales performance and pipeline and provide sales reps the ability to build "what-if" analysis
• Non-technical way to modify and model compensation plans and have the ability to build SPIF's on the fly
• Improved tools for sales analytics to drive sales effectiveness
• Complete audit trail capturing all incentive compensation actions for improved compliance and governance

"The Varicent team worked very closely with Phonak leadership to develop a trusted partnership that took the company's unique needs into consideration," said Marc Altshuller, Executive Vice President, Worldwide Field Operations, Varicent. "We are very pleased with the outcome and know that Varicent Business Edition will arm Phonak with the strategic tools it needs to meet its business objectives."

About Phonak

Headquartered near Zurich, Switzerland, Phonak, a member of the Sonova Group, has developed, produced and globally distributed state-of-the-art hearing systems and wireless devices for more than 50 years. The combination of expertise in hearing technology, mastery in acoustics and strong cooperation with hearing healthcare professionals allows Phonak to significantly improve people's hearing ability and speech understanding and therefore their quality of life. Phonak offers a complete range of digital hearing instruments, along with complementary wireless communication systems. With a worldwide presence, Phonak drives innovation and sets new industry benchmarks regarding miniaturization and performance. Phonak's United States subsidiary, Phonak LLC is headquartered in Warrenville, Illinois.

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 Tribune, Sherwin-Williams, Bank of the West, Farmers Insurance, ING, Manpower, Dex One, Maritz, Sun Hung Kai Financial, and many others. For more information, please visit www.varicent.com.

©2011 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.

CONTACT:

Varicent Software
Brian Hartlen
T: 1.416.987.1241
E: bhartlen@varicent.com
www.varicent.com