Varicent ICM.
We use it for calculating compensation payments & performance, creating dashboards & reports, and creating workflows and business …
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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Popular Features
- Complex sales crediting (48)7.575%
- Sales compensation process automation (52)7.373%
- Sales compensation plan creation (48)7.373%
- Sales compensation dashboards & forecasting (47)6.666%
Reviewer Pros & Cons
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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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- No setup fee
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- Free Trial
- Free/Freemium Version
- Premium Consulting/Integration Services
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Alternatives Pricing
What is Visdum?
Visdum is a Sales Compensation System built to help companies manage and optimize sales incentives, to produce a motivated sales team. Visdum is a no-code SaaS platform that allows companies to design and automate any compensation plan, with the flexibility to add SPIFFs, Bonuses, and Kickers.…
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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
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...
Show More Varicent Integrations
- Salesforce Sales Cloud
- ERP
- CRM
- HCM
- Point-of-sale
Varicent Competitors
Varicent Technical Details
| Deployment Types | On-premise, Software as a Service (SaaS), Cloud, or Web-Based |
|---|---|
| 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
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.
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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Reviews and Ratings
(124)Attribute Ratings
Reviews
(26-50 of 67)Companies can't remove reviews or game the system. Here's why
I use Varicent Incentive Compensation Management to track my monthly commission check. Varicent does a great job of showing me the goals that I want to reach in real-time as it is updated daily. It also allows me to track previous progress which enables me to make sure I am continually improving.
- Tracking progress
- Pay management
- Accuracy
- Could update faster
- Needs to show compensation per sale
- Saves info for easier access
June 03, 2022
Great experience!
We use Varicent to compute periodic payout due to our vendors who are engaged with our organization in a referral capacity. These vendors receive a percentage of the revenue generated on referral business. Payout computation involves complex calculations as vendors receive a commission on each transaction (brokerage). Before Varicent, it was a time taking and tedious process even though the number of payees was comparatively very less at that time.
- A solid system which is free of bugs and the flexibility it provides to make changes
- Great support (multiple channels of support, i.e. Relationship Manager, Customer and Tech Support, Expert Session)
- Education and Training Program
- There is not much to dislike, but if I have to - there is more that they can do with training and education programs
- Making it more user-friendly. Tools are complex to use and there is a learning curve to it - they have kept on improving upon this. So, I would say keep up the good work!
November 02, 2021
Data Transparency
[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
November 01, 2021
Sales Performance Management -- Varicent
Varicent Incentive Compensation Management is used by the commissions team in my organization. We calculate incentives of the sales rep through this tool. It is quick, easy to maintain, calculates plan/incentive correctly, change in plans for coming years can be implemented easily. Kind of robust tool. Charts/graphs have made the dashboard more user-friendly and easy to understand.
- Automation of processes are smooth.
- Linking with external tools is easy.
- Making of calculations, presenter reports requires very less training.
- 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.
October 29, 2021
Varicent ICM works for us. Recommended!
ICM currently implemented for UK sales force and sales support. The product replaced an internally developed 'black box' solution that was slow and restricting commission plan development due to its inflexibility. ICM overcomes these factors and allows accurate allocation of orders across the organisation structure, feeding sales data into the CRM, and providing real time dashboards with appropriate drill to detail for Sales to track, check and interrogate their performance. Other reporting outbounds provide FP&A team with information relevant to their analysis needs.
- Flexibility
- Data Volumes
- Varicent Support
- Product Development
- Running a block of calculations - instead of only individual or whole model
- Independent identification of fragmentation, etc. issues with calcs/tables
October 29, 2021
Great product without limits
Score 8 out of 10
Vetted Review
Verified User
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)
October 27, 2021
Powerfull, Flexible SPM environment, delivered by a passionate team of professionals
Score 9 out of 10
Vetted Review
Verified User
[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.
- 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.
We pay our advisors using this tool. It helps us run a successful compensation payroll cycle.
- Locking data of previous comp runs
- Scheduler jobs
- Auditing
- Workflow processing
- Good user interface
- Hard to build complex queries with locked functions.
- Hard to integrate with other solutions because of lack of API interface.
- Hard to design data base model since its not a relational database.
September 23, 2021
Flexible plan design with support from the experts
Varicent is being used to calculate and pay variable compensation within the consumer business line.
- Customer service cares about the customer's needs.
- The ability to design flexible plans and calculations that allow plan changes through user-provided configuration data.
- The ability to consistently communicate with user base about current and future development.
- The fast pace of development does not always allow for an appropriate amount of regression testing.
April 13, 2021
Varicent Review
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.
April 06, 2021
Varicent Incentive Compensation Management review!
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
Eye on a new comer on Varicent's software
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
Great tools if used for its purpose
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 30, 2021
Great team
The application is being used by a section of the organization and it is related to the commissions
- Good 24-hour support
- Experts on the logic of complex calculations
- The tool itself is very stable
- Modification of a complex calculation after being in PROD that does not cause regression issues (documentation for future changes)
- Experts that build the model that is assigned to other projects (losing knowledge)
- Varicent's monthly window of change impacting a client's application because it is not in their windows to change
March 28, 2021
Incentive Compensation Management
Score 10 out of 10
Vetted Review
Verified User
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
Score 9 out of 10
Vetted Review
Verified User
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
March 26, 2021
Why I use Varicent ICM.
Score 10 out of 10
Vetted Review
Verified User
Varicent is used for sales and Agency partner commissioning across all the company.
- Very flexible tool
- Reliable cloud-based tool (nearly no downtime in 10 years)
- Great support team
- Training staff to develop compensation plan is a bit tricky
- Reporting capability can be improved
- Processing quite slow when you process massive amount of data points
March 24, 2021
ICM, an interesting, living tool
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 24, 2021
Satisfaction!!!!
Score 9 out of 10
Vetted Review
Verified User
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
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
March 22, 2021
Amazing Incentive Compensation Product
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 22, 2021
Varicent - A good product with huge potential
Score 8 out of 10
Vetted Review
Verified User
Varicent is the enterprise tool for processing variable incentive for Amex Sale / Tele-Support colleagues. Currently it is being used by ~10K users across Amex and we have a goal to expand it further. It is being used by multiple BUs across the organization.
- Flexible Design - a lot of freedom to the developer
- In-Built Reporting tool - Presenter Reports
- Easy to manage Data Structure
- Decent reporting capabilities
- Workflow Management
- Query Management
- Flexibility in Report Development
- What - if analysis
March 20, 2021
Varicent User friendly software
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 19, 2021
Was an incentive to use this tool.
Score 8 out of 10
Vetted Review
Verified User
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
March 13, 2021
Powerful Incentive Compensation Tool
Score 9 out of 10
Vetted Review
Verified User
Currently we are using Varicent for managing the sales and partner compensation for quite long. Varicent has been able to make the complex calculation easier to understand for the sales community which helps sales to focus on the core job they have rather than understanding the complexity of the calculations/ Incentive plan.
- Ability to do the backdated changes for the months which are locked to compute the amount accurately
- Inquiry management features helps to track the sales inquiries timely and within SLA
- Scenario creation for Simulating the data so that we don't need to create the complete calc or run a parallel model
- Enhanced reporting features and ability to easy customization of reports
- Selection criteria level has some limitation while raising the inquiries, it will be good to have if we have multiple level selection joined together
- V9 was having the ability to sideshow the tables while in V10 we need to open it in different tab
- Health dashboard suggest which calc has problem, if it also recommend way to optimize the calc will be really helpful