Varicent

Score7.9 out of 10

126 Reviews and Ratings

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.

Categories & Use Cases

Media

Varicent providing clarity and transparency to sellers, helping them to find answers faster and have confidence in compensation plans.

Tools for sellers that help them align strategic initiatives, and that help them understand which deals will help them win.

Varicent ICM model compensation plans that display the financial impact of changes. Its ability to more accurately forecast commission payouts with “what-if” assumptions, users can budget more effectively for sales compensation costs, manage target total compensation for sales representatives and assess plan effectiveness.

Shareable information sent to the right people to drive the right results.

1 / 4

Complex sales crediting
Users can set up complex crediting chains to attribute credit for sales to multiple tiers of employees and/or partners.
Category average: 8.3
Sales compensation process automation
Automates processes related to sales compensation, like incentive and quota plans, approvals, dispute resolution, payroll processing, etc.
Category average: 8.9
Sales compensation plan creation
Easy for Sales to create incentive compensation plans without IT assistance.
Category average: 8.5

Sales compensation dashboards & forecasting
Analytics tools give sales ops managers and/or reps a view into sales performance in terms of sales vs. quotas, as well as earnings so far and projected payouts. May include competitive stats.
Category average: 8.5
Incentive modeling
Includes a sandbox or testing environment for users to explore what-if scenarios and develop incentive compensation strategies.
Category average: 8.5
ICM mobile visibility
Real-time reports about sales performance and compensation are accessible on mobile devices; may also allow managers to update plans and/or reps to submit questions, disputes, etc.
Category average: 7.6

Ashan Wickramasinha

QE LEAD in Information Technology at TD Bank (10,001+ employees employees)

Use Cases and Deployment Scope

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.

Pros

Calculate Compensation.
Workflows
Reports

Cons

Calculation Run Times.
Accessibility

Return on Investment

Reduced Manual Work required.
Fewer Compensation errors.
User Friendly for our Comp Admin Team.

Usability

Muneeb Baig

Analyst in Information Technology at TD Bank (5001-10,000 employees employees)

Use Cases and Deployment Scope

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.

Pros

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.

Cons

Customization requires some technical knowledge.
Presenter adaptive has limited functionalities.
Tool is not accessible friendly for disabled.

Return on Investment

Improved productivity for the admin team.
Improved sales team customer satisfaction from the dashboards.
Fewer inaccuracies in payments.

Usability

Other Software Used

Jira Software, Microsoft Power BI

Noel Dsouza View profile

Product Group QE LEad in Information Technology at TD Canada Trust (10,001+ employees employees)

Use Cases and Deployment Scope

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.

Pros

Sales Planning.
Maintain Data Quality - ELT
Sales Incentives - Compensation.
Data Visualization - Presenter Adaptive.

Cons

Accessibility
Performance Improvement for Business Rules / calculations.
Turn Around time for Complex Support Tickets.

Return on Investment

Less Manual Effort for Compensation calculation.
Increased transparency into compensation plans.
Ease of access to Payees on their commission payouts.

Usability

Kanika Sharma

Lead analyst in Finance and Accounting at COLT TECHNOLOGY SERVICES INDIA PVT LTD (10,001+ employees employees)

Use Cases and Deployment Scope

We use Varicent as a Commission Tool. We have a very vast Commission plan which needed dynamic system for automation. Varicent has helped us to create a fully automated and easy to use reports and calculations. Varicent has given us scope to create a simpler version of dashboards and reports.

Pros

Dashboards creation
Web reports
Calculations

Cons

Presenter Adaptive reports
Dashboards
Imports

Return on Investment

Fewer compensation calculation errors
More transparency include
More compliant process

Usability

Peter Motelson View profile

Manager Sales Incentive Systems in Sales at Quest Diagnostics (10,001+ employees employees)

Use Cases and Deployment Scope

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.

Pros

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.

Cons

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

Return on Investment

I can't back this up quantitatively but anecdotally we are told that our sales teams can spend less time doing shadow tracking of their territories and more time selling.