Merced Systems, Inc. Experiences Record Growth, Acquires Leading Incentive Compensation Management Vendor in the First Half of 2008
MERCED SYSTEMS™ Wins Key Deals, Significantly Increases Presence in the UK and Europe, and Expands Market Reach into Sales Performance Management
Redwood Shores, CA, July 29, 2008 — Merced Systems Inc., the market leader in sales and service performance management, announced today that it experienced record bookings and revenue growth during Q1 and Q2 of this year. Bookings (orders placed) grew 90% over the first half of calendar 2007, and revenues grew 50% for the same period.
Further underscoring Merced Systems' success in the first half of 2008, was its June acquisition of Europe's leading Incentive Compensation Management vendor, Practique Associates. Combined, the two companies deliver a performance management solution that encompasses all customer-facing operations, including contact centers, field sales, retail channels, partner operations, field service and back office functions, enabling enterprise customers to dramatically increase the lifetime economic value of their customers by changing front line employee behavior. The acquisition of Practique also promotes Merced Systems' international presence and allows the company to more rapidly enter international markets.
The first half of 2008 was also marked by several key customer wins, including three leading telecommunications providers, and a major international airline carrier. Additionally, Merced Systems released two new products, Merced Incentive Management and Merced Operations Center, with the goal of streamlining key management activities, reducing costs and improving front line performance. With rapid product growth and customer acquisitions, Merced Systems further extended its position as the leader in sales and service performance management.
First Half 2008 highlights include:
- Acquisition of Europe's leading Incentive Compensation Management provider, Practique Associates
- Introduction of a new set of core products: Merced Incentive Management (ICM) and Merced Operations Center (real-time reporting)
- 4 deals over $1M
- 50% increase in revenue over the first half of 2007
- 90% increasing in bookings over the first half of 2007
"The growth and expansion that Merced Systems has experienced in the first half of this year is a true testament to the strength of the company," said Matt Glickman, CEO of Merced Systems. "With the addition of Practique, and the addition of an advanced Incentive Compensation Management offering, we look forward to leveraging our expanded product footprint and to continued success throughout the rest of the year."
"We are uniquely positioned in the market to deliver significant business impact to our customers — from improving customer acquisition to reducing operating costs," said Mark Selcow, president of Merced Systems. "Because our customer's customers are the lifeblood of their businesses, it is our mission to continue to deliver solutions that make their organizations more customer-centric and effective. Our customers' measurable successes arein evidence of the power of performance management."
About Merced
Merced Systems is the leading provider of Sales and Service Performance Management applications focused on improving operational effectiveness of sales forces and service organizations across a range of vertical industries. Merced Systems' award-winning products serve Global 2000 customers, and include advanced analytics and reporting, incentive compensation management, coaching and other performance execution applications. With a strong track record of growth and delivering business impact to its customers, Merced Systems has been profitable for the past 5 years. Merced Systems is a privately held venture capital-based company headquartered in Redwood City, CA., with major operations in the UK. For more information on Merced Systems, please visit www.mercedsystems.com.
