From quotas to sales and compensation, Varicent helps revenue leaders in enterprise organizations chart a more effective, connected path to revenue by providing vital data, insights, and sales go-to-market planning tools.
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Community Pulse
Varicent
Considered Both Products
Varicent
Verified User
Program Manager
Chose Varicent
Initial comparison analysis was done but no insights into the outcome and why Varicent was chosen over Xactly
Varicent is the leader in the ICM space because it is scalable and is always making improvements / enhancements based on customer input. However in my opinion based on my own experience, all ICM providers operate similarly in that they over-promise to get a customer's business …
Varicent was selected 1) because we had an incompetent independent contractor managing the process; 2) Varicent misrepresented both scale & cost as well as support.
Budget-wise, reporting, and System availability-wise. Varicent hands down provides a better environment for compensation deliverables and management reporting which includes all of the financial needs we require. The following components were able to determine our pick. …
Varicent is an all-in-one platform that provides database access, UI, and ability to create calculations, reports, etc. from data. I like this better than traditional databases as it takes what would've been additional coding and makes it an easy process to go through with just …
Varicent outperforms other Incentive Compensation Management I have used in the past. Its user interface is far more user friendly, data is more accurate and up to date. The whole look and feel is modern and polished.
Before we had Varicent [Incentive Compensation Management], we had Beqom. It was an on premise model with customizations, limiting our future plans. We had several vendors over for a discussion and invited them to proof their platform by delivering a POC. Varicent was the only …
Verified User
Engineer
Chose Varicent
We have only used internally developed products but its very hard to keep products up to date with new tech coming in the market
We have both PeopleSoft and Varicent. The tools are used for similar process (compensation review ) but on different entities with different (not compatible) requirements.
For the use cases we have at the bank, ICM is a perfect solution. For any bank or institution that has similar requirements, ICM would be a perfect solution. But I also think for any use case that has any sort of incentives based on Sales done, this would work amazing, as both Calculations and reports are handled by ICM very well; it's an all-in-one solution, I feel like.
As [the] model gets more and more transactional data, the calculation time increases. This should/can be handled internally with better model optimization.
Migrating from one env to other sometimes is challenging. There can be better 'Alerts' or 'Explanation' provided to handle it or at least to give a hint of the error.
For managers viewing their rep's report, the access part can be made easier. It should be linked to Payee hierarchy and access can be done automatically.
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.
Any calculations can be implemented as there are hardly any limitations on complexity. However, online real-time usability is lacking - a simple user enters, and the system calculates work in a way that it is in the browser and hence still needs overnight to be properly reflected in the batch calculations and backend tables.
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.
Giving a 10 would suggest there is no room for improvement. I don't feel like their support is perfect. However, I have never met another team that was more dedicated to making sure we get what we want and need.
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.
In 2015, we used a scorecard containing 80 attributes in our review of Oracle, Callidus, and Xactly & Varicent. Oracle did not have true self serve capabilities- programming was heavily required, not intuitive, out of the box functionality was limited. Callidus & Xactly could not provide us a demo using our data, statements could not be sent out in bulk form, difficulty in importing/exporting to CRM. Varicent excelled in most areas and was the clear winner.
It is very scalable and adaptable to changing complexities of calculations and business rules under a variety of different scenarios. It does not get full points because in large data loads the time needed to calculate and import the data increases exponentially and may cause issues related to timing potentially.
Compliance - with a central system used for calculation incentive payments and commissions, we are able to provide reports and data showing every detail of how payments are calculated and why they are justified. We can also identify anomalies and outliers.
Integration with our payroll system is seamless. Except for regular pay, nothing goes to payroll without going through ICM. The process for paying incentives/bonuses/commissions is now very structured and efficient.