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Varicent

Varicent

Overview

What is Varicent?

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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Recent Reviews

Making work easy.

9 out of 10
February 15, 2024
Incentivized
The upside of Varicent is its ease of implementation and ability to draw results instantly without publishing the calculations every time. …
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Awards

Products that are considered exceptional by their customers based on a variety of criteria win TrustRadius awards. Learn more about the types of TrustRadius awards to make the best purchase decision. More about TrustRadius Awards

Popular Features

View all 8 features
  • Complex sales crediting (48)
    7.5
    75%
  • Sales compensation process automation (52)
    7.3
    73%
  • Sales compensation plan creation (48)
    7.3
    73%
  • Sales compensation dashboards & forecasting (47)
    6.6
    66%

Reviewer Pros & Cons

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Product Demos

Interactive Product Tours of Varicent Solutions | Varicent

www.varicent.com
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Features

Sales ICM

Features around incentive compensation management for sales

6.9
Avg 7.5
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Product Details

What is Varicent?

Varicent is a SaaS company that helps businesses fuel growth. Its suite of solutions support a company’s revenue journey, from results-driven planning and predictability to growth. Varicent helps companies worldwide to set smarter goals and territories to maximize revenue potential. Varicent enables teams with AI-driven insights to make better decisions and outdo previous performance, and to create incentive strategies that motivate the right behaviors to achieve revenue goals. To learn more about Varicent, visit www.Varicent.com.

Varicent, Varicent and design, and Symon are trademarks or registered trademarks of Varicent in the USA, Canada, and other countries.




Varicent Features

Sales ICM Features

  • Supported: Sales compensation plan creation
  • Supported: Complex sales crediting
  • Supported: Sales compensation process automation
  • Supported: Incentive auditing/regulation compliance
  • Supported: Sales compensation dashboards & forecasting
  • Supported: Incentive modeling
  • Supported: Agile incentive strategy
  • Supported: ICM mobile visibility

Additional Features

  • Supported: Incentive plan management
  • Supported: Sales events and eligibility management
  • Supported: Modeling
  • Supported: Assignments
  • Supported: Data integration
  • Supported: Dashboards and reporting
  • Supported: Post pay management
  • Supported: Workflows
  • Supported: Analytics
  • Supported: Pay data integration

Varicent Screenshots

Screenshot of Varicent providing clarity and transparency to sellers, helping them to find answers faster and have confidence in compensation plans.Screenshot of Tools for sellers that help them align strategic initiatives, and that help them understand which deals will help them win.Screenshot of Varicent ICM model compensation plans that display the financial impact of changes. Its ability to more accurately forecast commission payouts with “what-if” assumptions, users can budget more effectively for sales compensation costs, manage target total compensation for sales representatives and assess plan effectiveness.Screenshot of Shareable information sent to the right people to drive the right results.

Varicent Video

With a huge IT landscape that was continually changing, KPN needed a flexible incentive compensation solution that could help them prepare for the future. Since adopting Varicent Incentives, KPN has been able to reduce calculation time from 28 hours to 45 minutes. Working with...
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Varicent Integrations

Varicent Technical Details

Deployment TypesOn-premise, Software as a Service (SaaS), Cloud, or Web-Based
Operating SystemsWindows, Linux, Mac
Mobile ApplicationApple iOS, Android, Windows Phone, Mobile Web
Supported CountriesGlobal
Supported LanguagesChinese-simplified, Chinese-traditional, Dutch, English, French, German, Japanese, Italian, Korean, Portuguese (Brazil), Spanish, Swedish, Turkish, Polish

Frequently Asked Questions

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.

Anaplan, CaptivateIQ, and SAP Sales Cloud are common alternatives for Varicent.

Reviewers rate Complex sales crediting highest, with a score of 7.5.

The most common users of Varicent are from Enterprises (1,001+ employees).
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Comparisons

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Reviews and Ratings

(131)

Attribute Ratings

Reviews

(1-25 of 67)
Companies can't remove reviews or game the system. Here's why
February 20, 2024

Varicent ICM.

Score 8 out of 10
Vetted Review
Verified User
Incentivized
We use it for calculating compensation payments & performance, creating dashboards & reports, and creating workflows and business processes. Using SPM products, we are able to automate our manual tasks.
  • Easy to use no IT background knowledge is needed.
  • Payee web portal has user friendly interface.
  • Being able to see the logic flow which makes troubleshooting easier.
  • Customization requires some technical knowledge.
  • Presenter adaptive has limited functionalities.
  • Tool is not accessible friendly for disabled.
The tool can be used when there is a need to calculate payments. It is great when trying to automate manual tasks. It makes the work of the sales admin team easier by managing their day-to-day activities in an efficient way.
February 16, 2024

Varicent's masterpiece

Score 9 out of 10
Vetted Review
Verified User
Incentivized
Varicent SPM is used for incentive compensation management for real estate line of business and solves for the problem of complex business rules and plans for variable compensation. Our case involved daily & bi-weekly calculations based on product sales and volumes
  • Incentive Compensation calculation
  • Scheduled calculation
  • Compensation reports
  • Low code, configuration tool
  • Cloud hosted SaaS
  • Ease of reporting
  • Real time source data integration
  • Friendly tutorials
  • Query control
Variable compensations where plans and business is complicated
Reporting can be improved
Score 7 out of 10
Vetted Review
Verified User
Incentivized
We use the Sales Performance Management tool to calculate incentives based on product sales and revenue.
  • Focus on core business functions.
  • Increase operational or financial efficiencies.
  • Accelerate service delivery.
  • Adding more calcs add more time to calculations run.
  • Dependencies on migration.
  • Not accessible for disabled people.
It amplifies sales strategy and commission calculation, ensuring the privacy, security, and confidentiality of our customers and visitors.
Noel Dsouza | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User
Incentivized
Varicent SPM or compensation calculation is used for multiple sales channels. Compensation is calculated for various products that our organization offers to its customers. We also use the Presenter Adaptive to create dashboards for Payees and data visualization. Payees can log in to the application to view their commissions and have a breakdown of every dollar paid to them.
  • Sales Planning.
  • Maintain Data Quality - ELT
  • Sales Incentives - Compensation.
  • Data Visualization - Presenter Adaptive.
  • Accessibility
  • Performance Improvement for Business Rules / calculations.
  • Turn Around time for Complex Support Tickets.
Varicent SPM is user-friendly and one of the best incentive/compensation tools available in the market. My organization has been using the ICM / SPM tool for more than 5 years, and they have really good feedback on the product. They have been investing heavily in modernizing their tool in a timely manner.
February 15, 2024

ICM Review

Score 10 out of 10
Vetted Review
Verified User
Incentivized
We use it in two of our business channels. The first one is for the Compensation of Mortgages and FlexLines for our Mobile Mortgage Specialists. All our earnings are calculated within ICM, and we also use it to produce their Statement of Earnings. The other Channel is our Mortgage Broker Stream, we use ICM to calculate Commission earned by Different Brokerages.
  • Calculate Compensation.
  • Workflows
  • Reports
  • Calculation Run Times.
  • Accessibility
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.
February 15, 2024

Making work easy.

Score 9 out of 10
Vetted Review
Verified User
Incentivized
The upside of Varicent is its ease of implementation and ability to draw results instantly without publishing the calculations every time. It's easy to use, and the features are always improving. Sometimes, some features don't work unexpectedly but get resolved by themselves in a while. I'm using this tool to work with compensation management and drive the data effectively. It's hassle-free, and the components make it easy to segregate.
  • Comp management.
  • Reporting
  • Dashboards
  • UI
  • Better functionality of calccs.
Best suited for sales planning and report generation. Also works well while creating the visualizations, which helps in getting some insights into the sales. Less appropriate for areas other than sales and compensation.
Score 8 out of 10
Vetted Review
Verified User
Incentivized
We use Varicent as our Incentive Compensation Management system company-wide to support our worldwide sales organization representing employees in 37 countries. We have around a dozen different comp plans made up of anywhere from 2 to 6 components (aka measurements) for each plan. We pay monthly, but these plans include monthly, quarterly, and annual bonus components.
  • Calculate commissions
  • Robust reporting
  • Great user portal for plan participants
  • Better direct access to support (i.e. phone contact vs. logging a support ticket)
  • More consistent table structure
  • Make changes to table entries easier (i.e. vs. having to upload small changes)
In my opinion, seems to over promise and under deliver. It is very difficult post-implementation to get assistance, and the software is not intuitive enough to operate effectively without ongoing support. We are required to log tickets to Varicent Support, which generally take several weeks to be addressed, and can take months to actually be resolved. We have several high priority issues that were initially raised during implementation and have yet to be addressed more than 6 months post-implementation.
January 22, 2024

Usability of Varicent

Score 7 out of 10
Vetted Review
Verified User
Incentivized
We use Varicent as a Commission Tool. We have a very vast Commission plan which needed dynamic system for automation. Varicent has helped us to create a fully automated and easy to use reports and calculations. Varicent has given us scope to create a simpler version of dashboards and reports.
  • Dashboards creation
  • Web reports
  • Calculations
  • Presenter Adaptive reports
  • Dashboards
  • Imports
More and Brilliant ways to automate the commission calculation system. Easy-to-use and user-friendly web reports. After we started using Varicent, we can now look after all these tasks from a single tool which saves us abundance of time and energy for other stuff. Management of reports are great and easy.
Score 6 out of 10
Vetted Review
Verified User
Incentivized
We use it for executive and wholesale business compensation, which is largely discretionary compensation. It does not have any sales component, which makes us an "odd duck" amongst other Varicent customers. Also, because of the visibility of the application, we have a lot more requirements for usability and real-time calculations.
  • Easy to configure inbound interfaces.
  • Runs a number of complex multi-step calculations.
  • Easy to configure any plan.
  • Online performance.
  • Real-time calculations where user enters and system calculates.
  • Real-time workflow, i.e., manager releases statement, employee can see statement right away and not the next day only.
I would recommend it to those who use it for sales compensation and performance management where the product is constantly developing. Being an "odd duck" by implementing broad compensation, we are not on the strategic roadmap with the features we need.
Peter Motelson | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Incentivized
We use Varicent to calculate all sales compensation at Quest Diagnostics, as well as to calculate the key Sales Performance metrics that drive the business and that serve as the basis of the compensation plans. Our Sales leaders rely on reporting in Varicent to help them manage their teams, identify high performing reps, and reps that are underperforming.
  • Varicent has the flexibility to perform any calculations needed for compensation or reporting.
  • Varicent has a user friendly web interface for sales reps and leaders.
  • Varicent provides many options for importing and exporting data in a variety of formats and from disparate source systems.
  • The Document management and acknowledgement module has been challenging to use but has been redesigned for 2024.
  • It would be useful to have more features targeting plan modeling, forecasting and what-if scenarios
Varicent grew up as a compensation calculation engine and it certainly excels in that scenario. They have invested heavily in modernization of the user interface for both administrators and end users so that the presentation and user experience are equal to the power of the back end.
January 18, 2024

Onboarding Varicent

Sharon Smith | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
We use Varicent for processing 2 incentives, as of 2023 and plans to onboard 20 more incentive plans within 2 years. Initially, it is solving visibility issues, compliance issues, direct file feed from system to payroll system and removes manual processing. We have cleaned the data going into Varicent and will work on enhancing reporting to employees at all levels.
  • Updated plug and play applications
  • Covers all my needs from basic to elaborate plan build capabilities and plan documents
  • Yearly summits, regional meetings, and customer service
  • If you want something unique added, Varicent asks you to add to their community forum. If enough people want the same option, then they will build it. Otherwise, you have to wait, and it may not get built.
Best suited is if the company hires a developer with Varicent background, otherwise, there are 3rd party companies who can be hired as contractors. This is good for short term, but you want an employee hired as soon as possible to help with the build. Otherwise, the build will take much longer, and you want the developer to be on the beginning part of the build to know the history and know the system.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
We use Varicent to calculate commissions for approximately 900+ people. It easily takes inbound sales on a nightly feed along with the quota we upload and tracks performance on a category and subcategory level. In addition to commissions, Varicent allows for up-to-date performance reporting that is used by the Sales Organizations and Finance.
  • Accuracy of calculations.
  • Ability to 'lock' results used to pay sellers.
  • Calculation speed is impressive given the volume of data coming in.
  • Visualizations lag behind other 'big data' analytics platforms, but Varicent continuously makes significant improvements.
We have a very challenging environment with how our sales data comes in, and our compensation plans get more complex every year. Varicent worked closely with us to ensure the logic put in place met our needs. They continue to partner with us as we are rolling out more reporting, which our Field really enjoys!
Score 1 out of 10
Vetted Review
Verified User
Incentivized
Varicent is used as our commissions calculation application in order to calculate sales commissions for our sales force, ranging from monthly payroll to quarterly payroll, as well as interim and annual bonus calculations. Our previous system was closed and after review of other applications, Varicent was chosen as the vendor.
  • Stores historical data
  • Fairly customizable in application of various compensation plans
  • Design and implementation is horrible
  • Customer Service
  • Quality Control
  • Reporting flexibility
  • General ease of use from an administrative standpoint
This implementation has been an absolute disaster and Varicent itself has been a horrible company for a vendor from my experience. Never would I recommend this system to any other business.
Score 8 out of 10
Vetted Review
Verified User
Incentivized
Currently implementing Varicent and will be using it once we go live within our compensation process which makes sure all advisor payments are made correctly and on time. The current process is using many sources for compensation but with Varicent we will be using a sole source and manage all payments.
  • Very user friendly
  • Timely process
  • Technology support is exceptional
  • Ownership on component builds
  • Better understanding of customer needs
  • More integrated testing process
The system is pretty clear and straightforward to understand. The logic and workflows help admins understand the system's scope, which will facilitate the troubleshooting, if required, throughout the day. The daily meetings we have with the Varicent team help clear out any issues we are currently having and allow them to also understand the business needs.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
I use Varicent on a daily basis to support a network of more than 3000 staffing recruiters. We use Varicent as our primary incentive compensation system, so it houses all our sales data and creates calculations and reports like bonus statements for each payee.
  • I like how clear the table structure can be on the backend.
  • I like how customizable the reports can be.
  • We have had issues with users making changes while a calculation is running, which results in an error of some sort.
  • Varicent has also introduced product updates without warning that negatively impact our system and we did not have time to prepare for that impact.
I've found Varicent to be very helpful with the compensation calculations and building our system from the ground up. It does seem like if you have complicated reports though, that might be tough to build from scratch.
January 15, 2024

Varicent Review: Analyst

Score 8 out of 10
Vetted Review
Verified User
Incentivized
We use the tool to manage variable compensation and commissions for staff. It calculates and generates files for payroll, as well as reporting to support payroll. Detailed commission data is available for our users through these reports. We also use workflows to support annual processes related to agreements between our staff and the organization.
  • It is very flexible when accommodating different calculations and business rules
  • The new reporting is sleeker to use and more user friendly
  • Admins of the system have an easy time navigating the tool even with minimal technology experience
  • SQL is accessed in the settings menu with a few clicks. It would be nice if it were easier to navigate to it
  • Portal access can get messy easily. Improving how to set it up would be beneficial
Varicent is a good tool for managing a variety of business rules and adapting its calculations to it with and fairly easy-to-use configurator. If the data loads are small to medium this is an ideal tool. When data loads become too large the data loads can take longer and may impact meeting specific timing requirements.
Hemant Joshi | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Incentivized
Prior to using Varicent, we were handling incentive payouts for around 4000 payees manually. Tasks like payouts, approval process, incentive summaries, and then reporting, almost all were done on different tools which was tiresome and difficult to manage. After we started using Varicent, we can now look after all these tasks from a single tool which saves us abundance of time and energy for other stuff.
  • Designing complex compensation plans
  • Implement Approval process
  • Automating new Payee onboarding
  • Reporting
  • Logs
Varicent has made designing complex compensation plans very easy. Using its different modules we were able to implement Approval process, Incentive summaries, automating new Payee onboarding and scheduling different jobs very easily and smoothly.
January 15, 2024

Varicent Boon or Bane?

Score 5 out of 10
Vetted Review
Verified User
Incentivized
Varicent is used to do the Incentive Compensation for all sales associates of our company across the globe. If implemented correctly the product has good scope and scalable solution to offer. We use Varicent for our entire process of loading the data to alignment and payout submissions. We like the ETL process that is offered by the tool and mapping process.
  • ETL Process
  • Reduced Calculations Time
  • Dashboards
  • The effective dated setup within the configuration tables should prompt any issue if the configuration is done incorrectly
  • Workflows can be much better. One of the basic things is to reflect the workflow is within the workflow setup so we get to know which workflow is pending
Varicent is better for normal plans for incentive compensation payouts; however, if you have some complex setup for plans or calculation methodology then need to ensure that the configuration is done very carefully. Varicent if properly configured provides meticulous output, especially the credit mapping setup process that is offered by the tool.
Score 7 out of 10
Vetted Review
Verified User
Incentivized
I use Varicent in order to be able to help to properly pay out different bonuses to employees.
  • Complete scheduler events
  • Allow testing in other environments
  • Send and receive files
  • Logging and not having a centralized area to view all logs
  • Nested items on the UI - have a hard time finding them
  • Inability to add code directly
Varicent is good for keeping track of employees and being able to complete different queries on them. Varicent would not be a good use-case if you would prefer a NOSQL database.
Score 7 out of 10
Vetted Review
Verified User
Incentivized
Varicent consolidates our sales compensation and MBO management into a single tool rather than multiple spreadsheets. This reduces the frequency of human error significantly and reduces time that would otherwise be spent piecing different data sources together manually
  • It is very flexible
  • It allows for interactive feedback from end users
  • The UI for admins is poor
  • Better detail of what happens when joining data sources to understand why end results are what they are
Varicent is very well suited to accommodate complicated logic. Because everything is essentially structured as a table, nearly anything you could do in Excel can be done in Varicent.

It is less appropriately suited for very small companies with simple compensation plans. The setup needed for a foundation within the tool is probably not worth the benefit offered by the tool until there is a certain level of complexity or volume
May 01, 2023

Varicent is good!

Score 6 out of 10
Vetted Review
Verified User
Incentivized
Varicent Incentive Compensation Management is a software solution designed to streamline and automate the process of managing and calculating incentive compensation for sales teams or other performance-based roles within an organization. It helps address several business problems related to incentive compensation administration
  • Compensation Management
  • compliance with internal policies
  • flexibility to accommodate changing business needs
  • regulatory requirements
  • User Interface and Ease of Use
  • Flexibility and Customization
  • Integration Capabilities
  • Hard to maintain on-prem- Too many components
Very well suited at Complex Compensation Structures, Manual and Error-Prone Processes and Lack of Transparency and Visibility
Score 8 out of 10
Vetted Review
Verified User
Incentivized
I check it to see if I am on track to meet my plan. I usually gauge my sales and determine paths of action if needed to hit my goal.
  • Updates
  • Sections out categories
  • Easy to read
  • Goes down sometimes
  • Visually not appealing
  • Could use graphs
Quarterly bonus attainment for seeing what percentages you need to sustain to max out the compensation plan.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
It is really nice to see how Varicent nicely outlines the different levels of compensation, from a historic to a current perspective. Being able to have full insight into what I am doing from a performance level so I can truly know what level of the impact my results are having on my compensation factor, is very in-depth displayed inside of Varicent. There are a few tabs that allow for drilling down to see what makes up the deal versus what makes up the paycheck. If any money is moved, where is it coming from or why did it get lost, the data is nicely presented to show what's happening.
  • Dashboards
  • Accurate Reporting
  • Compensation Summary
  • Present inbox items to sign in a easier manner
This is a fantastic tool that shows you where you are at, how much you are earning, keeping track of the documents that need to be signed to receive the money, and just very simply making sure your check matches what you are supposed to be getting. I love it!!
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Varicent Incentive Compensation Management provides a very comprehensive dashboard and insight experience into sales performance
  • amazing sales performance insight
  • comprehensive dashboard visualization
  • detailed transaction history
  • more detailed report / export capabilities would be nice
Varicent Incentive Compensation Management is a great tool when you are looking for something to deliver detailed sales performance insight to your employees. You have all the data you need at one glance: sales data insight, transaction summary, actual vs target graphs, workflow documents, and payee dashboard, just to name a few.
Score 8 out of 10
Vetted Review
Verified User
Incentivized
Varicnet Incentive Compensation Management is being used to calculate bonuses for the sales generating consultants who are working in the sales offices. There are a number of schemes and complexities; ICM handles this perfectly.
  • 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.
Works well with complex schemes and vast number of users.
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