Reviews (1-25 of 41)
- Flexibility - We have not run into a compensation plan that we could not build in ICM. Some of our plans are very detailed with complicated formulas.
- Accuracy - ICM is going to calculate accurate payouts every time (assuming the builds are done correctly). We have had some teams run their own calculations in parallel to verify payout amounts. Several times there were discrepancies but in each instance, it was errors on the client side (Excel).
- Reporting Capabilities - While we have only scratched the surface, there seems to be powerful reporting tools build in to ICM. Both from the end user perspective as well as from a management perspective. Reports are easy to build in Presenter and with the addition of Rapid Reports and the Discovery Dashboard, we are looking forward to providing powerful insights into our incentive payouts.
- 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).
- ICM Is a Cloud based tool which allows the Business at ANZ to manage and create tailored commission payments to our Brokers.
- Using the Integrated Development Environment of ICM at ANZ we have built multiple solutions that are tailored to how our business works. From manually created tailored deals that go through a workflow process to Approve/Reject the transaction based on input from Broker Manager, State Manager and General Manager. Using Python scripts and accessing the existing web services of ICM we are given the versatility to manage how our Commission Payments are handled e.g. sending emails with encrypted attachments to Brokers, storing Broker Invoices in tailored directory structure within ICM, ...
- ICM is a scalable product which easily churns through about 700,000 transactions a day at ANZ within a 3-4 hours window to calculate the commissions payable.
- Automated rebuild Indexing of tables and calcs, or next best thing, automated reports to list what should have its index rebuilt.
- To have the functionality for a conditional entry on the ICM scheduler. E.g. if ICM table has fieldx = 'Y' then we run a specific row in the ICM scheduler else it's skipped.
- The ability to download data in csv, Excel … from the "History Viewer" of tables that have changes tracked.
- Enables more meaningful insights -> this is accomplished through the ability for the administrator(s) to access every grain of data that runs through the system and either report on or build calculations off of that data point(s).
- Flexibility -> both in regards to handling exceptions to the designed calculation flow or when you need to create a new plan flow. Since the system is structured to be driven by table data, you typically never need to augment the calculation logic itself for minor changes. You simply either edit or add some new data to a few tables and most of the iterations you need to accommodate can be achieved.
- Full ownership by the client -> once you have been trained (which is another area Varicent as a whole excels at), you have full control over what happens inside your implementation. You have access to complete any task imaginable and will only be limited by your skill level and imagination.
- The only item I can see making this product even more useful than it already is would be the addition of a data discovery layer for the admin users. Enabling us to interact with the data leveraging SQL or some other language would make it that much easier for us to access and analyze the data and eliminate the need for us to pull the data out of the system in order to massage as needed.
- It is very useful when you have complex data and incentive rules.
- Has a high degree of flexibility in table and calculation building.
- Has a robust audit trail.
- The standard presenter reports need some work, especially on the visualization part.
- Workflow functionality and navigation are still a bit cumbersome for users.
- The application needs some ramp-up time for new administrators due to the high volume of tables and interdependencies.
Following business problems are addressed by Varicent ICM in my organization:-
- One-stop solution related to all sales commission queries via inquiry module
- ICM Simplicity and Robustness allows to implement complex business requirement as part of yearly commission plan strategy changes with ease
- Helps define sales targets as part of yearly target planning excercise
- Discovery Dashboard feature caters high level commission information to management to watch-out for deviations and behavioural trends in commission plan for its timely check and future improvement
- Easy Calc build method to implement complex business logic like , ew component quota management, component credits, attainment, payout factor and finally payouts
- Implementation of new component : ACV-GAM and IBR-GAM implemented in 2020 covers all detailed above
- Ease of building and editing Presenter reports with vast features for report customization
- like Commission Summary Statement for Payees and Partners
- New features like Discovery Dashboard, Symon AI, Health Dashboard enhanced overall product scalability and usage
- Regular customer interaction from Varicent Customer Success Manager wherein customer is updated on new product offerings, supports on bundled features usage like data purging, webinars and issue resolution if any in particular
- Always prompt ticket response from Varicent Support towards ticket resolution
- Ask Expert Time feature allows customer to interact with Varicent Representative directly on guidance required on implementation or understanding Varicent features
- To add multiple clacs in one-shot for index rebuild operation in Scheduler
- Currently, option allows adding one calc/table at a time
- In health Dashboard, if clacs and tables should also reflect current index fragmentation level so that timely actions can be taken on model health
- More visually appearing feature could be added in Presenter Report for designing like smooth headers row, or shade feature, different fore-colour for different at attributes or tuples level, grouping and un-grouping records on attribute values etc.
- To incorporate facility to migrate maintenance plan (index regenerate/rebuild) created within Scheduler in one model to migrate to other models
Bundled features make implementing business requirement very simple and yet scalable
Quota and Territory Management
Scheduler Jobs, Saved Imports and Saved Publication
Scenarios where it is less appropriate:-
Nothing encountered till now
- Simple yet robust to use
- Excellent Varicent Support
- Product has been scaled up to meet requirements like Analytics and Forecasting via Symon AI, Discovery Dashboard feature and may more new and interesting featured added like Health Dashboard, selective data purging etc.
- Online training
- Varicent provides us with support on three levels: Development is set up of different dashboards for the network and the payroll service: on this point we rely on our consultant (Seybel) who provides us with support and expertise.
- Active participation in various new features such as symon.
- A support and active listening through Gwenaelle
- Have support contacts who master the French language
It allows managers to review and approve bonuses with an audit trail. It allows payees to access their bonus at any time remotely.
It also provides automated analytical reports.
It also provides automated analytical reports which can be amended to cater for the metrics required.
It can be made easier to design analytical reports, and have process guides within the system.
The mobile access to the bonus reports have proven to be very useful to all payees and managers.
The admin client is also easy to navigate around and to extract the relevant tables from.
The web client payee v2 would further improve the usability.
- Robust database capabilities
- Ease of use
- Very short learning curve for developers
- Reporting is a weakness, due to lack of features
- Performance dashboards are lackluster and severely limited for major use
- Workflow is also quite restrictive and not easily adaptable to business needs
The tool is good and quite fast when it comes to processing and retrieval of data.
For the administrators of the tool, we would like it to be a little easier to load information
- Tracks commissioning and sales compensation.
- Informative dashboard.
- Easy to redo commissioning runs.
- Sales Inquiry lacks functionality to process adjustments.
- At times we have to customize more then we would like to meet our requirements.
Looks easy to add a new Dealer to system.
Dealer Commissioning has required a lot of customization.
We completed the “Solution Enablement for
SaskTel” program and my team and I were very impressed on how well it went.
This gave my team a better understanding of the application. Customizing the presentations to fit SaskTel
was extremely helpful. Sai Nagendran did
an awesome job.
- Stores large number of data set
- Creates logs of every activity
- File upload is not possible from payeeweb
- Scheduling the workflow is not possible at the moment
- Emails within workflow is very limited in nature
- Pop-up messages like confirmations message is not there on the payeeweb
- Auto data/table Sync should be there between all models/environments
Designing is simple and not more complicated.
- Approval process all integrated.
- Calculation time is very fast.
- Number of users is limitless.
- Presenter reports could be easier to write.
- Approval process should have the amount approved in the approval history.
- Importing adjustments via upload - should be direct to tables and not scheduler.
- SQl imports- which is helpful in evaluating the problems
- Workflows availability
- the most important thing which I feel is varicent should [have] functionality for importing data from frontend. e.g. if user wants to upload the spreadsheet from frontend then they should be able to do
Our IT landscape is highly complex and has many moving pieces in order to reduce legacy systems and we want to reduce our IT spent and enable business to be able to manage systems themselves in order to be more efficient and effective.
From a business perspective we wanted to increase the adoption rate within Sales of the compensation plans by using functionalities in reporting and forecasting. By using Varicent we have been paying correct and on time for three years in a row.
- 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
- Workflow Management works fine, but it is not on same "level" with rest of product.
- Inquiry Mangement works fine, but it is not on same "level" with rest of product.
If you are looking to achieve any of below "goals", Varicent is the way to achieve them
- Automation of manual Activities / Processes
- Reduction of admins
- Decrease of Calculation time
- Increase of adoption rate
- Expanded usage of software to other domains within organization
- Increase visibility of Admin team
- Strong Admin User Interface with high intuitive design
- You don't need to be a programmer to understand Varicent - everything can be tracked/traced in the admin client
- "in-screen" education videos to help admins navigate the model
- Many ways to get things done
Then, we created another Varicent environment for other purposes, but all linked to our initially implemented model.
We have been able to expand, without having to change our initital implementation, making the expansion not only succesfull, but also without risk to the compensations model.
New functionalites in reporting have been setup on top of the compensation model, without having to change the model itself.
(change on change will get risky/costly in the end, and with Varicent we minimize that risk to almost 0%).
- Online training
- in-person training
- no training
They are all doing a great job in replying fast and making sure you know what they are doing when something is wrong/needed.
- Calculate commissions
- Keep track of the history of the calculation for legal purpose
- Restitution of the data for front end users
- Flexibility of the tool that allows us to do pretty much everything we can
- Frequent new release of the tool that brings enhancements, new features
- Complete admin functionalities
- Reports are still quite rigid
- Reports are not very user friendly
- Some features in the admin are not well optimized (browsing [through] components, searching for dependencies)
- Entirely flexible capability that can address almost all business logic
- Powerful calculation engine able to process a huge volume of data
- Robust and secure cloud-based technology
- New analytical and AI-based tools
- Positive services and support experience
- Integration to other systems such as HR, sales, and DW
- Mobile capability
- Out-of-the-box workflow-based capability
Conversely it could be recommended less in an environment where the schemes are fairly simple and static, where there is a small volume of users or data, where a local and perhaps non-hosted implementation is preferred.
For the admin client, there is a high learning curve and it demands considerable skill to build and maintain the model; having said that, designed wisely, it can be immensely flexible and powerful in delivering the exact requirements of the business.
- Provides visibility to our teammates that they did not have before.
- Calculates bonuses at a company wide level instead of individually.
- Keeps historical information for us.
- The layout currently is too bulky/same color so it is difficult to see.
- Building out reports.
- Adding to the system without building knowledge.
- Excellent business consultants.
- Allows great customization.
- As I am new to compensation, it took me a while to understand some of the logic.
- Would like to be able to total values within the view of records vs having to export to Excel.
- Increased functionality for Inquiries in reports.
- Ability to implement complex functional rules
- Great autonomy to design our own solution
- Good performances with large volume of data
- Real time calculation
- User interface (in our implementation) could look better
- The tool is flexible.
- During the last year, many features have been implemented.
- The customer can propose features to implement.
- The customer relation is great.
- Deployment (we are still far from devops philosophy).
- Many new features on Reports during the last year, but it still needs some improvement.
- Lack of metric.
- Difficult to analyze problems (no query tool in multi tenant server).
On the other hand, business people without this kind of knowledge may only be able to define parameter tables for compensation plans, and maybe implement simple calculations (but IT help will be needed I think to secure the global model).
Well suited: We have a business case that allows a manager to evaluate their collaborators--this business case is frequently used and performs well.
Less appropriate: We would like to have the possibility to schedule the activations of tasks from a table. For example, if my today's date is between column A and B, I want to activate this task from our scheduler.
On the other hand, we sometimes encounter issues depending on the browsers we use and their configuration (languages). These issues concern the tool console and the web part.
Varicent Incentive Compensation Management Scorecard Summary
Feature Scorecard Summary
What is Varicent Incentive Compensation Management?
Varicent is a Sales Performance Management (SPM) solution that aims to enable organizations worldwide to Plan, Operate, and Pay effectively to streamline sales and drive growth.
The Varicent Incentive Compensation Management (ICM) solution automates the entire compensation process including data collection, compensation calculation, and commission statement distribution to reduce costs and improve sales performance. The vendor states users get the flexibility, scalability, and usability needed to manage complex compensation, and ensure sellers are paid accurately—and on time.
Plus, with the addition of its augmented intelligence solution, Symon.AI, users can spot trends, find meaningful
patterns, and identify outliers in seller performance, seller churn, and customer
attrition, in order to make Plan, Operate, and Pay smarter than before.
Varicent Incentive Compensation Management Screenshots
Varicent Incentive Compensation Management Integrations
Varicent Incentive Compensation Management Competitors
Varicent Incentive Compensation Management Support Options
|Video Tutorials / Webinar|
Varicent Incentive Compensation Management Technical Details
|Deployment Types:||On-premise, SaaS|
|Operating Systems:||Windows, Linux, Mac|
|Mobile Application:||Apple iOS, Android, Windows Phone, Mobile Web|
|Supported Languages:||Chinese-simplified, Chinese-traditional, Dutch, English, French, German, Japanese, Italian, Korean, Portuguese (Brazil), Spanish, Swedish, Turkish, Polish|