New Synygy Solution Ties Employee Up-Selling and Cross-Selling Referrals to Incentive Compensation

Business Wire, April 21, 2004

Business Editors/High-Tech Writers

CONSHOHOCKEN, Pa.--(BUSINESS WIRE)--April 21, 2004

Major Regional Bank Uses Synygy to Capture Customer Interests and Reward Employees for Referrals across Its Entire Line of Business

Synygy Inc., a provider of software and services for creating performance-driven organizations, today announced the availability for immediate delivery of its new referrals management solution. For the first time, companies now have an enterprise-wide view of all their referral programs across all lines of business, encouraging employees to refer customers and non-customers to others in the company for the sale of additional products or services.

"Referrals are one of the most effective sources of new business, with a low cost of acquisition and high success rate," said Mark A. Stiffler, president and CEO, Synygy, "but companies have found it difficult motivating employees and directing the right behaviors to make referral programs a success. Synygy's referrals management solution gives companies the tools they need to motivate, inform, and reward employees and build a winning referral program."

While referrals can be a powerful tool for businesses, most companies find it nearly impossible to manage all the product, customer, and employee data needed to foster and efficiently manage referrals.

While there are many other referral data capture offerings tied into enterprise CRM or other workflow tools, Synygy's 100% web-based, zero-footprint referrals management software is unique because it is fully integrated with Synygy's incentive compensation and performance management software, making it easy to track and reward individual employee performance in making successful referrals--all within one suite of products.

Synygy's referrals management solution was developed with the close support and assistance of a major regional banking client. Banks, especially, recognize the importance of referrals and understand that the more products or services a customer has the less likely they are to leave. Other businesses that engage in referral activities include large-ticket retail (such as automobile dealerships with referrals to sales, service, or leasing), healthcare (with referrals to other practices, practitioners, or service providers), and diversified financial services companies.

"Data on referrals also represents an opportunity to gain deeper insight on marketing and sales effectiveness, product bundling, and market segmentation," concluded Stiffler, "yet most companies are so mired in the details of managing the program that they never have a chance to effectively use the data. Synygy helps companies get out of fighting the day-to-day battles with their data and gain a deeper understanding of how their product offerings are resonating in the market and how their staff is using the environment to sell and generate revenue."

About Synygy

Synygy, Inc. provides software and services for creating performance-driven organizations. Synygy solutions enable companies to better execute their strategies by "operationalizing" how they define performance, reward success, and deliver results. Synygy's award-winning Enterprise Incentive Management (EIM) solutions have been proven by independent study to pay for themselves in eight to nine months. Synygy's EIM solution was also recently picked as the top-ranked EIM product in HR.com's 2003 Buyer's Guide to EIM. Based in suburban Philadelphia, Synygy's success and sustained growth were recognized when Synygy was named to the Inc. 500 Hall of Fame, reflecting Synygy's fifth consecutive inclusion on the Inc. 500.

Synygy is a registered trademark and "Performance Defined. Results Delivered." is a trademark of Synygy, Inc. All other trademarks are trademarks or registered trademarks of their respective owners.