London, UK September 11 2008 - Practique, Europe’s leading provider of Enterprise Incentive Compensation Management (ICM) software solutions, today signed a strategic alliance with OpenSymmetry, an independent specialist consultancy in all aspects of Sales Performance Management (SPM). The agreement will serve to strengthen Practique’s delivery capability in Europe and North America, reinforcing its commitment to its Partner Network and both companies will benefit from aligning their footprints in the ICM space.
The market for ICM software is growing fast, as companies are placing an increasing emphasis on delivering true value from incentive payments, avoiding overpayments and using well constructed incentive plans to retain staff and attract new talent to the sales force. Estimates show that companies still overpay 5-12% on annual compensation budgets, which presents a huge opportunity for savings.
“Even in today’s economic climate we are seeing a growing demand for specialist ICM software. This is because the benefits are rapid and tangible,” commented Orlando Carugo, Alliances Manager at Practique.
“Typically, ICM software has a proven track record to drive sales and ultimately revenue, increase productivity, motivate staff and provide a competitive business advantage. In this respect the synergy between Practique and its partners is fundamental. OpenSymmetry has been at the forefront of Sales Performance Management (SPM) for nearly a decade and as the largest specialist SPM consultancy, they will bring a wealth and depth of knowledge to our customers.” Carugo concluded.
“There is a strong appetite for software that makes compensation and sales performance more transparent. Working alongside Practique means we are able to offer clients a market leading solution which can not only help them achieve considerable savings, but also increase the effectiveness of their compensation plans.” John Stuart, business development director at OpenSymmetry added.
Practique operates in Europe as a wholly owned subsidiary of Merced Systems. Its flagship ICM software is INCA, which is known as MIM in the United States. Practique’s clients in Europe include, The Carphone Warehouse, Orange, Mazda, Royal Bank of Scotland and O2.
