Varicent Software Acquires Augmented Intelligence Company Symon.AI
Industry Leader in Sales Performance Management Also Taps IBM and Northwestern’s Kellogg School of Management for Chief Analytics Officer and Chief Data Scientist Roles
Varicent, the leading provider of next generation Sales Performance Management (SPM), announced that it has acquired Symon.AI, a visionary technology platform built on sophisticated Natural Language and Machine Learning algorithms that provide easy to use, advanced analytics to business users and data scientists alike. The acquisition brings to the Varicent SPM platform a full suite of data connectors, data preparation and augmented intelligence features. With the addition of Symon.AI, Varicent leapfrogs the competition to enable more effective compensation plans, better optimized territories and quotas, and higher performing sales teams in radically less time.
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“The market for SPM has continued to evolve, but the need to bring intelligence and insights to the performance and processes of business and the sales organization has not been fully met,” said Mark Smith, CEO and chief research officer at Ventana Research. “Varicent’s move to acquire innovative technology that brings simplicity to sophisticated performance challenges, is very much needed. The acquisition of Symon.AI will help them bring the power of AI to business and supercharge Varicent distinction in innovation for business,” added Smith.
“We are living in an Evidence Economy,” said Marc Altshuller, President & CEO of Varicent. “Whether consumer or businessperson, we all want the best data available – in the form of evidence in context – that confirms our management decisions are well informed.
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“With the speed of business today, sales performance decisions need to be evidence driven, not just data driven: predicting and understanding how salespeople and territories are performing, why certain salespeople experience burnout along with how to get them back on track, and how to eliminate millions wasted by ineffective compensation plans,” added Altshuller. “With Symon.AI, Varicent has cracked the code on Smart SPM, delivering virtually instant evidence to confirm suspicions and decisions based on data, in the most potent and complete offering in the practice of SPM.”
Symon.AI packages all the augmented intelligence capabilities needed to prepare data, get immediate views on trends and anomalies, and provide quickly actionable insights, all in the form of an easy to use and interactive user interface. The solution features powerful analytical algorithms delivered in a framework that is designed for business users, not just data scientists.
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