TORONTO, Oct. 22, 2009 (PR Newswire Europe) -- v>

- One of South Africa's largest financial services groups selects Varicent to manage their incentive compensation and sales performance management needs

The industry leader in providing incentive compensation (ICM) and sales performance management (SPM) solutions, Varicent Software Incorporated, is excited to announce that Absa Life has adopted Varicent SPM to improve their sales effectiveness. Absa Life is part of the Absa Group, one of South Africa's largest financial services.

"Varicent's superb application provides us with the flexibility and system configurability that can quickly adapt to our changing incentive compensation and sales performance management needs," said Izak Smit, Managing Director of Absa Life. "We are convinced that their solution, will not only meet our needs today, but also well into the future."

By selecting Varicent's solution, Absa Life will have a single solution that can manage their incentive compensation needs. These include:

-- Quickly model and change plans and analyze the impact of those changes -- Provide historical analysis of performance -- Forecast expectations and the impact on future sales

"Absa Life's adoption of our software extends our reach in the EMEA region and furthers our penetration in the banking industry, both of which are key markets for Varicent," said Andrew Armstrong, Vice President and General Manager International, Varicent Software. "We look forward to working with Absa Life as they drive improvements in their compensation management processes."

About Absa Life

Absa Life is part of the Absa Group. Absa Life is a diversified business serving personal, commercial and corporate customers and is the seventh largest Life Assurer in South Africa based on net premium income*.

The Absa Group Limited is one of South Africa's largest financial services organisations, serving personal, commercial and corporate customers in South Africa.

The Group interacts with its customers through a combination of physical and electronic channels, offering a comprehensive range of banking services, (from basic products and services for the low-income personal market to customised solutions for the commercial and corporate markets), bancassurance and wealth management products and services.

*KPMG Insurance Industry Survey 2007

About Varicent Software Incorporated

Varicent Software Incorporated delivers the most innovative sales performance management solution addressing the needs of business professionals across the entire enterprise. High performing companies relying on Varicent for better visibility and control of their complex variable compensation programs, automating the assignment of territories, the collection and approval of quotas, and reporting and analyzing sales performance include Waste Management, Convoy Financial Group, Sherwin-Williams, Manpower, Autodesk, Getty Images, Starwood Hotels, Sun Hung Kai Financial, and many others. For more information, please visit www.varicent.com.

(c)2009 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: Brian Hartlen Varicent Software T: +1-416-987-1241 E: bhartlen@varicent.com http://www.varicent.com