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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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
(1-25 of 49)Companies can't remove reviews or game the system. Here's why
February 20, 2024
Varicent ICM.
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.
February 16, 2024
Varicent's masterpiece
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
February 15, 2024
My Incentive Performance Review
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.
February 15, 2024
Varicent - Sales Performance Management.
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.
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 26, 2024
Decent Partner in the ICM Space
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)
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
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
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
January 15, 2024
Varicent Boon or Bane?
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
January 13, 2024
Lots of features but a fairly large learning curve
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
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
April 25, 2023
I love using Varicent Incentive Compensation Management!
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
June 07, 2022
Magnificent Varicent! Best sales compensation performance insight tool I have used in my career
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
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.
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
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.
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.