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Netformx Signs Definitive Agreement to Acquire VARcompliance

Netformx®, the leader in collaborative requirements-to-order solutions, has signed a definitive agreement to acquire VARcompliance, LLC (VARcompliance), the leading provider of automated vendor certification and incentive reward tracking, monitoring and management solutions. The acquisition will make it significantly easier for solution providers to take advantage of vendor incentive programs and manage certifications with leading equipment vendors including Cisco (NASDAQ: CSCO). Effective immediately, Netformx is now the exclusive global reseller for VARcompliance.

VARcompliance’s VxP SaaS platform, helps technology providers increase profitability by automating the process of capturing more reward dollars, removing labor-intensive and manual tasks to ensure compliance, and significantly improving the visibility and management of vendor reward and certification programs. Customers will benefit from reducing the time and cost required to track certifications, improving visibility into complex reward programs while designing solutions, and consolidating audit and compliance management. As a result, customers can increase their profitability with faster and more accurate proposals, greater promotional program participation, and tighter relationships with their equipment vendor partners and distributors.

Supporting Quotes

  • “With the need for IT Solution Providers to grow capital in order to invest in building for the future, they must become efficient in maximizing their margins through up front and backend vendor programs. Without the systems and efficiencies to leverage these programs, they stand to lose 10s of 1,000s of dollars. Netformx and VARcompliance are both trusted partners who provide great value in generating opportunities for increased margin, leveraging our critical engineering and management resources, and providing the tools needed to help partners streamline their operations. The combination of the two companies will significantly enhance the value they play in the IT solution marketplace as they have hit upon three fundamental business enablers – helping increase profitability, lowering operational costs, and automating tasks that are labor intensive and prone to errors. This acquisition just makes sense,” said Paul Cronin, Senior Vice President at Atrion Networking Corporation.
  • “The acquisition of VARcompliance will strengthen the relationship between our customers and their partners by addressing the challenges associated with taking full advantage of reward programs and managing certifications,” said Ittai Bareket, Chief Executive Officer at Netformx. “This has been a key area of focus for Netformx as it results in measurable profitability improvements for our customers. VARcompliance is by far the best solution in the marketplace and it made sense for us to add them to our requirements-to-order solutions.”
  • “Customers can continue to rely on VARcompliance when they want to significantly increase vendor reward dollar capture, while driving down the costs associated with certification tracking and managing incentive reward programs,” said George Mellor, President at VARcompliance. “Becoming part of Netformx will greatly expand market reach for both companies and provide a consolidated solution set making it even easier for our joint customers to achieve higher profitability.”

Resources

About Netformx

Netformx is the leader in collaborative requirements-to-order software solutions for enterprise technology. Netformx’s customers include service providers, systems integrators and equipment vendors who rely on the company’s award-winning solutions to create and sell the information, communications, and technology solutions that power business.

Netformx has over 2,680 solution providers as customers in more than 144 countries. Customers include AT&T, Belgacom, Bell, CDW, CenturyLink, Cisco, Dimension Data, HP, Insight, Juniper, Orange Business Services, Sprint, Swisscom, Telstra, Verizon, and WWT. The Netformx KnowledgeBase™ is the only comprehensive multi-vendor content library for technology products, including specifications, validation rules, pricing, ordering information, and discovery mappings from top technology suppliers including Cisco, Brocade, HP, Juniper, Avaya, APC, Belden, Plantronics, Polycom, and TrippLite.

More information can be found at www.Netformx.com.

About VARcompliance, LLC

VARcompliance, headquartered in Boston, is a Business Process Outsourcer utilizing a SaaS platform exclusively servicing the Value Added Reseller and Solution Provider marketplace – adding significant dollars to the bottom line through targeted incentive program optimization, reward tracking and automated certification compliance.

More information can be found at www.VARcompliance.com.

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