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Top Rated
91 Ratings
3 Ratings
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Score 7.9 out of 100

Varicent Incentive Compensation Management

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Top Rated
91 Ratings
<a href='https://www.trustradius.com/static/about-trustradius-scoring' target='_blank' rel='nofollow noopener'>trScore algorithm: Learn more.</a>
Score 8.4 out of 100

Feature Set Ratings

    Sales ICM

    beqom Total Compensation

    Feature Set Not Supported
    N/A
    7.7

    Varicent Incentive Compensation Management

    77%
    Varicent Incentive Compensation Management ranks higher in 8/8 features

    Sales compensation plan creation

    N/A
    0 Ratings
    8.0
    80%
    31 Ratings

    Complex sales crediting

    N/A
    0 Ratings
    8.1
    81%
    32 Ratings

    Sales compensation process automation

    N/A
    0 Ratings
    8.0
    80%
    33 Ratings

    Incentive auditing/regulation compliance

    N/A
    0 Ratings
    8.2
    82%
    30 Ratings

    Sales compensation dashboards & forecasting

    N/A
    0 Ratings
    7.2
    72%
    30 Ratings

    Incentive modeling

    N/A
    0 Ratings
    7.5
    75%
    28 Ratings

    Agile incentive strategy

    N/A
    0 Ratings
    7.4
    74%
    22 Ratings

    ICM mobile visibility

    N/A
    0 Ratings
    7.4
    74%
    20 Ratings

    Attribute Ratings

    • Varicent Incentive Compensation Management is rated higher in 2 areas: Likelihood to Recommend, Support Rating

    Likelihood to Recommend

    7.3

    beqom Total Compensation

    73%
    1 Rating
    8.9

    Varicent Incentive Compensation Management

    89%
    46 Ratings

    Likelihood to Renew

    beqom Total Compensation

    N/A
    0 Ratings
    9.5

    Varicent Incentive Compensation Management

    95%
    15 Ratings

    Usability

    beqom Total Compensation

    N/A
    0 Ratings
    7.9

    Varicent Incentive Compensation Management

    79%
    38 Ratings

    Availability

    beqom Total Compensation

    N/A
    0 Ratings
    6.6

    Varicent Incentive Compensation Management

    66%
    3 Ratings

    Performance

    beqom Total Compensation

    N/A
    0 Ratings
    6.6

    Varicent Incentive Compensation Management

    66%
    3 Ratings

    Support Rating

    7.3

    beqom Total Compensation

    73%
    1 Rating
    7.5

    Varicent Incentive Compensation Management

    75%
    8 Ratings

    In-Person Training

    beqom Total Compensation

    N/A
    0 Ratings
    7.7

    Varicent Incentive Compensation Management

    77%
    2 Ratings

    Online Training

    beqom Total Compensation

    N/A
    0 Ratings
    7.7

    Varicent Incentive Compensation Management

    77%
    2 Ratings

    Implementation Rating

    beqom Total Compensation

    N/A
    0 Ratings
    7.1

    Varicent Incentive Compensation Management

    71%
    7 Ratings

    Configurability

    beqom Total Compensation

    N/A
    0 Ratings
    6.6

    Varicent Incentive Compensation Management

    66%
    3 Ratings

    Ease of integration

    beqom Total Compensation

    N/A
    0 Ratings
    5.7

    Varicent Incentive Compensation Management

    57%
    3 Ratings

    Product Scalability

    beqom Total Compensation

    N/A
    0 Ratings
    8.0

    Varicent Incentive Compensation Management

    80%
    37 Ratings

    Vendor post-sale

    beqom Total Compensation

    N/A
    0 Ratings
    6.9

    Varicent Incentive Compensation Management

    69%
    3 Ratings

    Vendor pre-sale

    beqom Total Compensation

    N/A
    0 Ratings
    6.9

    Varicent Incentive Compensation Management

    69%
    3 Ratings

    Likelihood to Recommend

    beqom

    Depending on the complexity of the processes, the regulatory constraints and the number of employees to be managed, beqom can be a very powerful solution. Sometimes it's just too powerful and expensive for the scope.
    Read full review

    Varicent

    Varicent is well suited across all the domains (Finance, Insurance, Hi-Tech etc.) for sales incentive calculation. It can tackle the difficult scenarios/conditions provided by the client. This tool may not or should not be used in incentive forecasting. It's not a planning tool. Small scenario modeling can be done here but not on a large scale.
    Read full review

    Pros

    beqom

    • Budget Simulation, impact analysis of change ina compensation plan, scenario comparison
    • End user (functional user) administration
    • Total compensation management (ability to manage all the processes in a single tool)
    • Integration into the information system (SSO, data flows, etc.)
    • Complex business rules
    • Matrix organization management and complex workflows
    Read full review

    Varicent

    • Flexibility - Varicent is not template based. You can implement the model specifically for your organisation.
    • Scalability - Since it is not stick to templates you are able to expand the model for other domains as well.
    • Reporting - Several ways of reporting are possible and each has their own benefit/purpose.
    • Strong/Powerfull Calculation Engine delivering fast results/speed to insight
    • User Interface is minimized to what you need and is not showing off all the functions it can "also" do
    • Strong audittrail
    • Appears to be almost unlimited in what you are able to create
    Read full review

    Cons

    beqom

    • Territory Management
    • Mobile functionnalities
    Read full review

    Varicent

    • Zions Bancorporation takes security very seriously. While we have NOT had any security issues with ICM, with it being a cloud application, our internal infosec team really wants some kind of MFA (multi factor authentication) support for off corporate network access.
    • The ICM internal workflow manager is not as flexible as we would like. For what it does, it works extremely well. However, for our purposes, it would not fit our process so we created our own workflows using presenter reports, scheduler and automated data imports. We'd love to be able to use the internal workflow and I think with recent improvements we're getting close but it's just not there yet.
    • In order to send emails to users (ie. payments need approval) we had to write an external python script. It works well but for most admins, they are not able to support it. It would be nice to have the ability to send emails based on defined triggers. The built in workflow can do this but as mentioned previously, we are not able to use it.
    • I'd like to have the ability to run a partial calculation. Currently, there is only an option to run a full system calc or a single calculation. I would like the ability to run a stream of calcs (ie. from a parent down to all children only).
    Read full review

    Pricing Details

    beqom Total Compensation

    Starting Price

    Editions & Modules

    beqom Total Compensation editions and modules pricing
    EditionModules

    Footnotes

      Offerings

      Free Trial
      Free/Freemium Version
      Premium Consulting/Integration Services

      Entry-level set up fee?

      No setup fee

      Additional Details

      Varicent Incentive Compensation Management

      Starting Price

      Editions & Modules

      Varicent Incentive Compensation Management editions and modules pricing
      EditionModules

      Footnotes

        Offerings

        Free Trial
        Free/Freemium Version
        Premium Consulting/Integration Services

        Entry-level set up fee?

        No setup fee

        Additional Details

        Pricing Info

        Likelihood to Renew

        beqom

        No answers on this topic

        Varicent

        Customer support from IBM is impeccable. They are quick to respond and they don't nickel and dime you for every request you make. Their goal is to ensure your success and as a user, I really feel like they listen to my concerns. That's not to say there are no problems. All software has its issues, but I don't feel like those issues fall on deaf ears.
        Read full review

        Usability

        beqom

        No answers on this topic

        Varicent

        It was extremely difficult to create reports. We had to download data and create them in other applications. This was very limiting and required a great deal of time and effort. Drag and drop functionality is needed so we can self serve in the product.
        Read full review

        Reliability and Availability

        beqom

        No answers on this topic

        Varicent

        Never went down in last 3 years that I worked with it (every hour of the day basically). That is a 10 in my book.
        Read full review

        Performance

        beqom

        No answers on this topic

        Varicent

        All is fast, but with API's it is sometimes slower due to the application we are pulling data from. Reports are loaded directly or within seconds and our reports are very detailed with many columns and rows.
        Read full review

        Support Rating

        beqom

        Support is provided by the implementation partner and beqom. A team of the editor is dedicated to this activity
        Read full review

        Varicent

        Varicent's overall support while using ICM has been fantastic. Our contact at Varicent has been very responsive to emails, very rarely failing to reply to any questions or inquiries within 24 hours. Moreover, their replies are consistently thorough while being concise, and clear enough that any directions are easy to follow and apply.
        Read full review

        In-Person Training

        beqom

        No answers on this topic

        Varicent

        The training was good in general with a nice trainer as well. But, the training could be better if it is more focussed on our process/data etc.
        Read full review

        Online Training

        beqom

        No answers on this topic

        Varicent

        There is a learning portal with many videos about navigation, creating reports and managing your model.
        Read full review

        Implementation Rating

        beqom

        No answers on this topic

        Varicent

        Test test test. Make sure that the product is calculating everyone 100% correctly. DO NOT accept a 70% pass rate as some companies would like to have you believe is acceptable. This means conducting thorough testing by providing 100% of all expected results, but it will be worth it when you know that the compensation plans are working entirely as expected.
        Read full review

        Alternatives Considered

        beqom

        Beqom is the only one managing all compensation components (total comp).
        Read full review

        Varicent

        Out of all of the products I have ever evaluated for this space, Varicent is head and shoulders above the rest in my opinion. For me, I think of Varicent as akin to building an Access database while the other programs are like building an Excel data model. In Varicent you control everything from what tables are built to how they are leveraged with the calculations that you build. In the other tools, you are pushed into finding ways to leverage their pre-built mechanism of action and any deviation from what you build necessitates you to build a brand new plan. This is the key differentiator of a table driven system as opposed to a rule based one. The flexibility and usability is wholly unmatched.
        Read full review

        Scalability

        beqom

        No answers on this topic

        Varicent

        Varicent Incentive Compensation Management is a tool that allows [users] to implement the specific rules applying to the business, [without] any technical constraints from the tool. The reports would, however, need to be a little bit less rigid and add more controls regarding what has been entered by users.
        Read full review

        Return on Investment

        beqom

        • Reduction in calculation errors.
        • Equality Management (comparisons, Women/Men, etc.).
        • Letters/Plan description communication. Mass ability through the tool and direct communication to the eligible.
        • Logs of all actions performed.
        Read full review

        Varicent

        • Fewer calculation errors as previous solution was manual based.
        • Ability to build tailored solutions in ICM to entice Brokers to write business for ANZ.
        • Allows the Broker Managers to easily to see what commissions they are going to pay in the next Commission Run payment cycle and make changes if required.
        Read full review

        Screenshots

        Add comparison