IBM has announced another analytics software company acquisition called as Varicent. The company is based in Toronto, Varicent specializes in using the power of computing to analyze and understand sales performance and compensation. Varicent makes software that’s intended to automatically collect and analyze sales data not only from a company’s finance and sales operations, but also from its human resources and IT departments.
In more practical terms, it means, according to a note from Brian Marshall at ISI, that Varicent’s software makes it easier for companies to “optimize compensation, streamline territory assignments, manage quotas, analyze sales activities and prepare for audits.”
Founded in 2003, it had raised $35 million in venture capital from FTV Capital, RBC Venture Partners and Edgestone Capital. It has 180 customers including Hertz, Manpower, Office Depot and Starwood. The deal terms haven’t been disclosed.