Giga Report Places Synygy at Top Among Competitors; Highlights Growth Potential for the 'Roaring' EIM Market

Business Wire, Jan 12, 2004

Business Editors/High-Tech Writers

CONSHOHOCKEN, Pa.--(BUSINESS WIRE)--Jan. 12, 2004

Noted computer industry advisory firm Giga Research, a wholly owned subsidiary of Forrester Research, Inc., released a report that highlights the fast growth seen in the use of Enterprise Incentive Management (EIM) solutions and software.

Synygy received the top overall score (43 out of 50 possible points) among the vendors competing in the EIM market. In the report, Giga ranked each vendor in five categories. Synygy received the top score in the technology, breadth of product, and market share and market awareness categories and tied for best depth of product and management.

Synygy's top score in technology is two points (out of 10) ahead of its best-of-breed competitors. This is a result of Synygy being the only competitor to provide, as the report states, "a fully Web-enabled, J2EE suite of EIM products."

Synygy's top score in breadth of product is three points (out of 10) ahead of its closest enterprise software competitor because of, as indicated in the report, Synygy "broadening its product line into the performance management space" and because "the ERP suite vendors... lack the robustness and maturity of the best-of-breed vendors."

Giga comments that Synygy is "the perennial market leader in gaining market share on the competition" and that "its long track record of success coupled with its blue chip client roster make it a low risk choice." Giga forecasts that Synygy will remain the largest provider of EIM solutions through 2007.

Describing the driving forces behind the growth in the EIM market, Giga explained that today's business environment requires that companies be agile and adaptive to changing market conditions. "...Incentive compensation plans can be a facilitator or an obstacle to this kind of adaptability. Companies that can tune their compensation plans overnight to respond to changing conditions have a competitive advantage over those that can't."

"Giga has demonstrated conclusively that companies can expect their use of EIM to achieve a positive ROI (return on investment) in less than a year, so it is no surprise that the market is seeing such growth," said Mark A. Stiffler, president and CEO of Synygy.

Giga also cautioned that companies face some tough choices in implementing an EIM solution, warning buyers to look for scalable solutions that are fully web-based and free from over-reliance on third-party reporting and analytics tools. "Most vendors now claim browser-based J2EE-compliant applications," warned the report, "but these are not all created equal and sometimes a number of features require some 'fat client' applications. Be sure to understand the implications of this."

All aspects of Synygy software, from data integration and validation, to rules definition and processing, to workflow management, to report creation and distribution, are fully J2EE-compliant with no code installed on the client machines. Synygy has an installed base of over twenty clients on its web-based software, which has become a central issue in all of Synygy's recent wins against its competition.

The report, entitled "Market Overview 2004: Enterprise Incentive Management Gains Traction," was published December 22, 2003. Giga clients can find a full copy of the report at www.gigaweb.com.

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 software was 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.