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March 08, 2021
We use ICM to calculate and pay all non-salary incentive payments, including stock grants, spiff awards, etc. Initially, this was the primary purpose, however, in recent months, we've been trying to figure out how to use more of the reporting functionality to report on and use the 7 years worth of incentive data to perform analytics on our performance based plans and review total compensation.
- 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).
March 06, 2021
Varicent Incentive Compensation Management is being used across the organization to pay Commissions to Brokers who introduce loans into ANZ Bank (from mum and dad Home Loans to Corporate Loans).
- 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.
At Medidata Solutions, we leverage the Varicent implementation to service our entire global sales force. We leverage the tool to not only compensate our sales reps timely and accurately, we have built self service reports for our Finance and Operations colleagues to leverage as well. Having a ready made, single source of truth has drastically improved our organizational efficacy. In addition, it has allowed us to focus more on the strategy and insights our sales data can provide and less time searching through the data for the story.
- 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.
Varicent Incentive Compensation Management is used across the company to calculate Sales Incentives, non-Sales Incentives and to administer the yearly merit/ salary review process.
- 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.
March 26, 2021
Varicent ICM is used in the organization to compute Sales Commissions for Sales Payees (Colt Employees) as well as Partner Sales.
It is being used accross departments - primarily Finance and HR.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
- Online training
Yes - NA
Varicent Incentive Compensation Management is used by a department. It carries (calculates and records) the variable compensation for the entire sales network.
- 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
March 22, 2021
It has automated the compensation payments for our company, where we pay 1500 employees, and has eliminated manual errors in calculations.
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 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.
- Analytical reports.
- Compensation reports accessible on mobile devices.
- Data Discovery reporting.
- Personalizing reports.
March 19, 2021
The SPM system is used to payout financial performance related incentives to customer service colleagues and their leaders. It is used byt multiple departments. It addresses the processing of incentives.
- 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
[Varicent Incentive Compensation Management] is being used for the entire organization, but only the sales teams is able to visualize their objectives, sales, achievements and incentive collection.
- Customer service
- Agility
- Good work tools
- Customer service in other languages, for example Spanish
We use it for our Dealer Commissioning and our Internal Sales Compensation. IT supports the application and it is being used by our Finance and Marketing teams. It replaced an existing application.
- 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.
Varicent ICM is being used by across the whole organization for Incentive Processing , Incentive plan management and Reporting related to Incentives for front line Customer Care Professional, their Team Leaders, coaches and other staff.
There are many more others users as well which manages other process related to Incentives like plan management. It is also being used by the top management leaders to get the Incentive numbers for further reporting and analytics.
- Quick
- 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
March 20, 2021
Varicent Incentive Compensation Management is used to calculate the commissions of Internal Sales executives and Outside Partners, and extensively used in Sales Ops department.
- User friendly Admin client
- Easy accessible Payeeweb
- Not very much complicated Calcs and reporting designs
- Error log
- Troubleshooting
- Payee web Display mechanism , more user friendly
March 13, 2021
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.
Wolseley uses Varicent to calculate sales commission for its front line sales force across different business lines.
- Accurate Commission Calculations
- Ease of administration
- User friendly
- Data Reporting and Analysis
- Ease in making changes to the admin client
March 03, 2021
It is being used by a department. We are using this tool for calculating the payouts. We are having good experience with Varicient.
- 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
March 28, 2021
We use [Varicent Incentive Compensation Management] to compute commissions for US Sales team. We utilize for the processing of the commissions only as we have a in-house application that handles our CRM needs. Sales data is pulled into the system by territory and we use the fund tables and calculation engine to compute commissions amounts. The final product is sent via secure transmission to our HR payment system for payment to Sales team.
- Custom calculation functionality
- Audit tracking
- Portal capabilities
- Report creation is very difficult
- Effective dating on territories
- Calculation run times too long
March 18, 2021
[Varicent Incentive Compensation Management is] currently used within Business Market domain, where we support both Sales (internal) and Partners (external) compensations.
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.
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.
- Online training
- in-person training
- no training
Yes - We have several upgrades during the year, since it is a Cloud application
Varicent Incentive Compensation Management is used to calculate commissions to different populations: internal network but also external companies that bring business. The idea is to use ICM as the single source of truth regarding how commissions are calculated. It also allows [managing] the entire lifecycle of the commissions, from the receiving of financial movements to the calculation, the payment in [the] accounting system, and the edition of statements.
- 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)
March 12, 2021
Varicent Incentive Compensation Management is used to calculate, output, and present variable earnings for our sales force. This spans the sales and account management organization plus some additional teams. It addresses the need for a tool to deliver incentive compensation for employees on a commission/bonus scheme.
- 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
March 09, 2021
We use the ICM platform company wide to address our incentive compensation bonus plans. It addresses our problems of calculating bonuses manually in Excel. Teammates log in on a monthly basis to review their bonus compensation summary and approve it before we send it over to payroll for processing. This helps ensure we do not overpay/underpay our teammates.
- 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.
April 06, 2021
We have just recently implemented it across our Sales organization. We had been tracing variable incentives with multiple Excel workbooks and it was a very manual process. We envision this to automate much of that process.
- 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.
April 01, 2021
The software Varicent is providing us takes care of all forms of remuneration, for our outside of France operations. Whether it is for regular paycheck or deferred payment or other incentive, the software is a powerful tool that interacts well with all of our internal services such as HR databases and references.
- fairly customizable
- good integration with other internal services
- knowledgeable varicent team
- Still running with old tech
- The customization capabilities often means complexity
April 01, 2021
Varicent ICM is used in the compensation process (Anual Compensation Review ) and to manage Differred compensation. The scope is worldwide.
- 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
March 24, 2021
Varicent Incentive Compensation Management is used to centralize all compensation for all distribution channels of our organization. We are still at the middle of the way.
- 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).
March 23, 2021
We use Varicent Incentive Compensation Management to calculate the variable amount of retail employees and offer them a portal for reporting their results. The tool also allows managers to have an overview of their employees and different areas to enter financial compensation.
- Easy of use
- Ergonomics
- Multitude of business use cases possible to implement
- The possiblity of triggering tasks in the scheduler from a table
- Delete locked tables or calculations
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
Salesforce.com, CRM, ERP, HCM, Point-of-sale
Varicent Incentive Compensation Management Competitors
Varicent Incentive Compensation Management Support Options
| Paid Version | |
|---|---|
| Phone | |
| Live Chat | |
| FAQ/Knowledgebase | |
| 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 Countries: | Global |
| Supported Languages: | Chinese-simplified, Chinese-traditional, Dutch, English, French, German, Japanese, Italian, Korean, Portuguese (Brazil), Spanish, Swedish, Turkish, Polish |
Frequently Asked Questions
What is Varicent Incentive Compensation Management?
Varicent (formerly IBM Cognos Incentive Compensation Management, or IBM Sales Performance Management) is presented by the newly reformed vendor as a Sales Performance Management (SPM) Solution that will accurately track, manage and report on sales-related data and processes to reduce administrative costs and provide insight into key performance metrics. The solution encompasses Incentive Compensation Management, Territory Management, Quota Planning and Channel Management.
Varicent was acquired by IBM in 2012, and then relaunched as an independent product and company (under its former name) September 2019.
What are Varicent Incentive Compensation Management's top competitors?
Xactly Incent, Anaplan, and CaptivateIQ are common alternatives for Varicent Incentive Compensation Management.
What is Varicent Incentive Compensation Management's best feature?
Reviewers rate Incentive auditing/regulation compliance highest, with a score of 7.7.
Who uses Varicent Incentive Compensation Management?
The most common users of Varicent Incentive Compensation Management are Enterprises from the Financial Services industry.