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
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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
(1-15 of 15)Companies can't remove reviews or game the system. Here's why
February 15, 2024
ICM Review
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
February 15, 2024
Making work easy.
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.
January 19, 2024
Flexible but use it for what it is designed to do!
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.
January 18, 2024
Successful 10 year partnership with Varicent
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
January 15, 2024
Varicent Review: Analyst
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
May 01, 2023
Varicent is good!
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
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
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.
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
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 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
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 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 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.