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%
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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
(123)Attribute Ratings
Reviews
(1-11 of 11)Companies can't remove reviews or game the system. Here's why
January 15, 2024
Overall Varicent Satisfaction
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
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
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
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 12, 2021
Powerful ICM that keeps getting better
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 08, 2021
ICM has been worth every Vari-cent!
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 04, 2021
Overall Positive.
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.
March 02, 2021
Varicent for the win!
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.
Score 8 out of 10
Vetted Review
Verified User
Varicent is being used by my organization as the main sales compensation system. This means that the field can access large amounts of information on a daily basis. Along with the field having a more interactive experience, the analyst have a better platform for managing compensation and drive improving sales performances.
- Varicent does a really great job at making a completely unique and custom Sales Compensation system.
- An area that Varicent has room for improvement would be in the back end of the system when dealing with tables and calculations. It is extremely frustrating and difficult to map a calculation issue when your are trying to follow the lines that make up that calculation. There should be a way to have only that calculation show when you click on it. This making it easier to map and follow.
- There is a very helpful audit tracker which keeps accountability up when there is multiple programmers in the system but still most programmers will have to learn what was done before them to then start and make progress on the task at hand. Along with that when digging deeper into a calculation you can see comments along with an audit log of previous programmers for that specific calculation. This is essential to making significant progress but if there were clearer prerequisites for the reasoning behind the changes that were made to that calculation. This would establish a clearer understanding of the reasoning for changes and would cut down the time spent backtracking to learn why the original change was made.
February 25, 2015
Varicent for Comp Plan Creation
Score 7 out of 10
Vetted Review
Verified User
Currently my department, Sales Operations, utilizes Varicent to build out and manage the compensation plans for our salesforce. There is another version of Varicent used within our company as well for payout of the compensation plans, however, I don't manage that portion, it is handled through our Commissions department. The system was built to have the management team access the information directly, hopefully resulting in quicker turnaround time, however, due to system issues we have faced since implementation, we haven't been able to roll out that portion of the system yet.
- The implementation team listens to your overall business and strategy and is willing to work with you to address your specific needs. Our company was the first Varicent worked with to build out the implementation of the plans versus the payout of the plans.
- The trouble support team responds to issues quickly and efficiently and escalates them if needed.
- There is always room for upgrade if you're willing to optimize your model and put in the time and effort on your own end.
- We tried to utilize a third party to implement Varicent several years ago. After months of sitting with them explaining our process, they brought us a demo of what they thought we needed and it completely missed the mark. This left us frustrated and feeling defeated. Varicent needs to make sure the third parties they use to implement their product come across as they themselves would.
- We have had an on-going issue since implementation two years ago; we tried to utilize the service and ticket system and after a year were told it was beyond their control and to utilize a specialized team we would pay for, to come in and resolve our issue in 1-2 weeks. We got the funds to have the team come in, and unfortunately 6 months later, the issue is still not resolved. Their follow-up lacks, as does their resolution of large issues.
March 12, 2014
Varicent, empowering the Sales Organization
Score 10 out of 10
Vetted Review
Verified User
Varicent (AKA IBM Cognos ICM) is currently being used in several capacities for my company. First and foremost it is used as a Sales Compensation calculation tool. Additionally it is used for Reporting, Analytics and Accruals. The biggest advantage to using Varicent is the fact that it can be owned by the business organization whereas traditionally systems are owned by the IT organization. In other words, the tool is simple enough to learn that the people closest to Sales Operations and Management can actually create and implement change within the system.
- Sales Compensation - The bread and butter of this software is that it can create everything from the very simplest of pay logic to the most complex of crediting rules
- Sales Compensation Reporting - The reporting tool is quite robust. Dynamic (an often overused term), is completely accurate as a description for the reporting aspect of Varicent. Reports can be created to change depending on the audience, both in content and look and feel.
- Accruals - Our company has some very stringent requirements for Accrual logic, Varicent was able to handle them all
- Modeling - There are numerous methods for modeling change within compensation plans that allow analysts to predict and asses the impact of changes to the plans
- Hierarchies - Whether your hierarchies are driven simply by supervisor ID or by complex combinations of attributes, Varicent can handle it all
- Flexibility - The software is flexible enough to allow you to decide what you want to do, don't want to implement reporting or accruals? No problem. Just want to use Varicent as a reporting tool, also no problem.
- Young Software - Varicent the software company was/is a young company. As such it has a strong focus on customers but is also growing at an extremely fast rate. They are constantly pushing to release the next version of the software and as such it can feel a bit daunting trying to keep up with the latest versions of the software. Luckily, the provide upgrades for free.
- Organizing large amounts of logic within the software can sometimes feel clunky. They attempted to improve the organization in version 7 by introducing the concept of components. It helped, but there is a ton of room for improvement in this area.