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Varicent

Varicent

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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Recent Reviews

Varicent's masterpiece

9 out of 10
February 16, 2024
Incentivized
Varicent SPM is used for incentive compensation management for real estate line of business and solves for the problem of complex business …
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Making work easy.

9 out of 10
February 15, 2024
Incentivized
The upside of Varicent is its ease of implementation and ability to draw results instantly without publishing the calculations every time. …
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Awards

Products that are considered exceptional by their customers based on a variety of criteria win TrustRadius awards. Learn more about the types of TrustRadius awards to make the best purchase decision. More about TrustRadius Awards

Popular Features

View all 8 features
  • Complex sales crediting (48)
    7.5
    75%
  • Sales compensation process automation (52)
    7.3
    73%
  • Sales compensation plan creation (48)
    7.3
    73%
  • Sales compensation dashboards & forecasting (47)
    6.6
    66%

Reviewer Pros & Cons

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Pricing

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N/A
Unavailable

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.

Entry-level set up fee?

  • No setup fee

Offerings

  • 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, decrease errors and hassle, and ultimately produce a highly motivated sales team. Visdum is a no-code SaaS platform that allows companies to design and automate any compensation plan, with the…

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Product Demos

Interactive Product Tours of Varicent Solutions | Varicent

www.varicent.com
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Features

Sales ICM

Features around incentive compensation management for sales

6.8
Avg 7.7
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Product Details

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

Screenshot of Varicent providing clarity and transparency to sellers, helping them to find answers faster and have confidence in compensation plans.Screenshot of Tools for sellers that help them align strategic initiatives, and that help them understand which deals will help them win.Screenshot of 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.Screenshot of Shareable information sent to the right people to drive the right results.

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...
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Varicent Integrations

Varicent Technical Details

Deployment TypesOn-premise, Software as a Service (SaaS), Cloud, or Web-Based
Operating SystemsWindows, Linux, Mac
Mobile ApplicationApple iOS, Android, Windows Phone, Mobile Web
Supported CountriesGlobal
Supported LanguagesChinese-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.

Anaplan, CaptivateIQ, and SAP Sales Cloud are common alternatives for Varicent.

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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Comparisons

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Reviews and Ratings

(124)

Attribute Ratings

Reviews

(1-3 of 3)
Companies can't remove reviews or game the system. Here's why
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)
From financial movements integration to the restitution, it's easy to monitor and track the lifecycle of commissions and the calculations that took place. The tool allows to automatically notify some users in some defined scenarios to gain efficiency, control, and risk management. The tool is easy to set up and allows to decrease the time to market for new functionalities or implement new change requests.
Sales ICM (8)
76.25%
7.6
Sales compensation plan creation
70%
7.0
Complex sales crediting
80%
8.0
Sales compensation process automation
80%
8.0
Incentive auditing/regulation compliance
80%
8.0
Sales compensation dashboards & forecasting
80%
8.0
Incentive modeling
80%
8.0
Agile incentive strategy
80%
8.0
ICM mobile visibility
60%
6.0
  • Improved time to market for new functionalities
  • [Improved] reporting for front end users
  • Improved financial cycles with less defects that leads to a greater payee's satisfaction
Varicent Incentive Compensation Management interfaces are improved quite often. Ergonomy is improved as well. This results in a better understanding and usage of the tool by back-end users. The tool is also API enabled, which is great when thinking of the implementation of special technical needs. [Debugging] is easier and done faster. From the front end POV, the results are reachable easier and faster. Browsing through the different reports is more intuitive.
Support is always on our side to help [to] solve issues/finding [a] solution [to] particular needs. The support is available 24/7 and [provides] good technical analysis. The support is also listening to what customers and users [want.] New releases are issued every [month] and provide better stability, new features, and enhancements to the tool.
Varicent Incentive Compensation Management is a tool that allows [users] to implement the specific rules applying to the business, [without] any technical constraints from the tool. The reports would, however, need to be a little bit less rigid and add more controls regarding what has been entered by users.
No other evaluation
Atlassian JIRA Align (formerly AgileCraft)
20
The final users are providing service to the business facilitator, make sure they are paid with the correct amount of commissions and in time.
7
People are mostly it persons, with engineering degree in computer science. They have data analysts skills and should be able to develop sql queries.
  • Payment in time
  • Availability of data and elements of calculation
  • Tracability of the data
  • Connexion through any device (smartphone, computer)
  • SaaS application that can be reached anytime from any device
  • Better restitution of the data
Easy to use application, with a complete set of features. The application is often updated to provide new functionnalities. Support is effective.
No
  • Product Features
  • Product Usability
I was not part of the selection process.
I was not part of the selection process.
  • Third-party professional services
IBM Consulting
No
Change management was minimal
  • Migration from an environment to another one is cumbersome
  • Setting processes up in the scheduler is not that user friendly and time consuming
N/A
Provide quick feedback, with most the time a great level of expertise and advises.
I dont know
Yes
Yes, quickly and with the expertise required.
  • Managing tables and browsing the model
  • Access the audit
  • Development of report is now less time consuming
  • Scheduler
  • Web Reports are still rigids
Yes
The interface works well from every devices i had a chance to use, even if it is quiet hard to use the app on smartphone.
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.
Varicent Incentive Compensation is perfectly suited for both smaller and large companies, specificaly when you are in need of a platform that is flexible to your specific compensation logic and scalable as well. Also, Varicent is highly invested in the roadmap of the software. If you are looking to achieve automation of processes, reducing manual activities, decreasing calcing times etc., then Varicent is the way to go.
Sales ICM (8)
86.25%
8.6
Sales compensation plan creation
90%
9.0
Complex sales crediting
90%
9.0
Sales compensation process automation
90%
9.0
Incentive auditing/regulation compliance
90%
9.0
Sales compensation dashboards & forecasting
90%
9.0
Incentive modeling
80%
8.0
Agile incentive strategy
90%
9.0
ICM mobile visibility
70%
7.0
  • 95% reduction of calculation time
  • 3125% increase of logins
  • 50% reduction of Admins
  • Reduction of Plan implementation by 3 months
  • Speed to insight increased from weekly to daily
Strong Admin User Interface with high intuitive design You don't need to be a programmer to understand Varicent - everything can be tracked/traced in the admin client "in-screen" education videos to help admins navigate the model Many ways to get things done
When we implemented our model, everything was fine untill we crossed the year. We had issues in truncate loading the data after is was "frozen" for payout. The issue had to do with the design of our specific compensations model. The team was eager to help and together we redesigned the part of our model and implemented it. Varicent does not consider you as a client, you are part of the family. They are always there to help, think with you etc. etc.
Since our initial implementation we expanded the model with a completely different domain. Then, we created another Varicent environment for other purposes, but all linked to our initially implemented model. We have been able to expand, without having to change our initital implementation, making the expansion not only succesfull, but also without risk to the compensations model. New functionalites in reporting have been setup on top of the compensation model, without having to change the model itself. (change on change will get risky/costly in the end, and with Varicent we minimize that risk to almost 0%).
Before we had Varicent [Incentive Compensation Management], we had Beqom. It was an on premise model with customizations, limiting our future plans. We had several vendors over for a discussion and invited them to proof their platform by delivering a POC. Varicent was the only vendor actually delivering the POC on our written scenario in several days and by using Varicent, showing that our scenario had an error in expected outcomes.
385
1 Super Admin
2 Business Admins
1 Business Analist
1 Finance Analist

Rest are payees/salesreps and/or Sales Managers
3
1 Super Admin and 2 Business Admins.
Skill level is standard excel and know how to navigate a website.
For innovation/development and looking for expanding the model you need a brain that is good at data modelling (what is the source data, what is the expected output and how do I get there)
  • Compensations of Sales
  • Compensations of Business Partners
  • Territory Management
  • Automation of processes
  • The level of automation was unexpected. All manual work for our compensation plan is down to 0%, except for supporting hierarchy changes.
  • Data Discovery Dashboards are great for many, many purposes (reporting, admin education)
  • Automating more manual processes outside of compensations domain
  • Centralize communication within the system
We achieved major goals since our initial implementation and I don't know about any other application that can bring us the same.
Yes
Beqom (on premise)
  • Price
  • Product Features
  • Product Usability
  • Product Reputation
Only vendor that was able to deliver a POC on short term
We took a very long time for our selection process. Longlist to shortlist and from shortlist to POCs etc.
Only thing I would change is speed up this process. On the content I would not make any change. We have been very, very detailed and did not "just" make our decision.
  • Implemented in-house
  • Third-party professional services
Our initial model for Sales was implemented together with the vendor.
Our second model for Partners was implemented together with Cognizant.
Our thrid model for a different domain was implemented together with Cognizant.
Yes
Discovery - Design - Building

Discovery:
Many discussions/meetings to make sure we are all on the same page regarding our data, processes etc. etc.
In other words: WHAT do we need

Design:
When the WHAT is known, the next phase is the "HOW".

When all that is known and done... building is least of the time spent on the implementation.
Change management was a small part of the implementation and was well-handled
- Don't just think about what you need today. Also consider what you might need in the future.
- Aks the vendor for best practices in order to get highest flexibility for future changes.

  • None that I can remember
Only downsight: it only took about 4 months.
I was the best project I have ever been responsible for/working on where my brain got challenged every hour of the day.
Good times!
  • Online training
  • in-person training
  • no training
The training was good in general with a nice trainer as well.
But, the training could be better if it is more focussed on our process/data etc.
There is a learning portal with many videos about navigation, creating reports and managing your model.
Many new features have been implemented since our first training.
If you understand your model, all these new functions can be learned easily by just trying them out and ask a support question here and there.
Varicent is delivering all flexibility I can ask for.
You "basically" have 4 main options to create (table, calcs, datastore and reports).
I have not found anything so far that I could not configurate/built etc.
Think about how you would like to manage your compensations.
Do you require yearly changes on the same basics? The consider a more "table driven" approach, where you can configurate the way the model works, based on configurations stored in tables (instead of building more calcs).
No - we have not done any customization to the interface
Some - we have added small pieces of custom code
Very easy. You have an Admin option to import an "external tool". That can be Python for example.
We used it to clean up some data before putting it in the tables (adding unique ID for example)
I don't see how customization is required when the application itself is allready very wide regarding how to get things done.
You have a support page where you can create tickets, but you also have a CSM available.
They are all doing a great job in replying fast and making sure you know what they are doing when something is wrong/needed.
No, we have standard support.
I am not even sure premium is offered, but if it is... i would not know the difference from current "standard".
Yes
It was replied on fast. Team asked for a quick call with screen sharing to make sure we are all on same page.
Then they reproduced it and all their findings went to the development team.
All steps of the way I knew about the status, who was my point of contact etc.
  • Composer
  • Managing data
  • Data Discovery
  • Navigation
  • Workflows
Yes, but I don't use it
Never went down in last 3 years that I worked with it (every hour of the day basically).
That is a 10 in my book.
All is fast, but with API's it is sometimes slower due to the application we are pulling data from.
Reports are loaded directly or within seconds and our reports are very detailed with many columns and rows.
  • Salesforce
We are pulling many tables from our Salesforce environment to be able to report compensations with a daily refresh rate.
It was not that hard, you can either use the built-in API and schedule the import... or you can go with an external tool like Python inside ICM and restrict the API a bit more to reduce data being pulled. We are also sending data back from ICM into Salesforce.
  • No
Not having any ideas to do that at the moment.
  • File import/export
  • Single Signon
  • API (e.g. SOAP or REST)
No that I can think off.
I have not found anything I can't do yet.
Think wider then just integrating Varicent for 1 specific purpose.
Friendly team, stayed involved with implementation after Sales was done as well.
They take their time to make sure the "pre-discovery" gets done correctly and complete.
Sales team kept in touch and knew about progress from implementation team etc.
Implementation team is best experience I have ever had in a big project.
N/A
Varicent is there to help you, so make sure your business issue is transparent.
Yes
We have several upgrades during the year, since it is a Cloud application
  • Data Discovery
  • Ask Varicent Assistent
  • New UI for Admins
  • Inquiry process
  • Workflows
No
No
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
Scenarios wherein well suited:-
Bundled features make implementing business requirement very simple and yet scalable
Quota and Territory Management
Scheduler Jobs, Saved Imports and Saved Publication

Scenarios where it is less appropriate:-
Nothing encountered till now
Sales ICM (6)
83.33333333333334%
8.3
Sales compensation plan creation
80%
8.0
Complex sales crediting
90%
9.0
Sales compensation process automation
80%
8.0
Incentive auditing/regulation compliance
90%
9.0
Sales compensation dashboards & forecasting
80%
8.0
Incentive modeling
80%
8.0
  • Migration to v10 from v9 has increased admin application usage simply because of ease of access, as v10 is web based while those version prior to v10 were non web-based. All this with no additional cost.
  • For the last 3 years tenure in the organisation, with Varicent I never observed incorrect commission computed because of calculation error
  • Our belief and consistent Varicent Support had always helped implement new compensation plan strategy without any glitch
  • Sales Productivity has improved as they don't have to spend time emailing compensation queries or concerns related are readily addressed on PayeeWeb Reports
  • Simple yet robust to use
  • Excellent Varicent Support
  • Product has been scaled up to meet requirements like Analytics and Forecasting via Symon AI, Discovery Dashboard feature and may more new and interesting featured added like Health Dashboard, selective data purging etc.
In Feb 2020, post migrating to v10 from v9, the overall calc completions time has increased considerably.
Colt Customer Success Manager's and Varicent representatives support is commendable especially in identifying root-case and proposed solution post which calc completion time came back to normal.
This helped business operations with adequate window to carry out business operation changes received almost daily.
  • Create internal/operational efficiencies
  • Enhance decision making
  • Drive innovation
  • Improve compliance & risk management
  • Product roadmap and future vision
  • Strong consulting partnership
  • Product functionality and performance
750
Sales, Partner Sales, Finance and HR
2
•Undertake development tasks in Varicent
•Timely delivery of all enhancement / bug fix requests related to commission system on Varicent
•Work directly with business/end users to analyse and design solution for business requirements.
•Understanding business requirements and translating them into technical design (High level / Low Level), developing and implementing the technical solution thus designed, interacting and coordinating with necessary teams, and ensuring high quality delivery within the assigned timeframes.
•Develop and Test new plans configuration in Varicent
•Develop Test cases/scnearios to vet development logic
•Develop webforms/ presenter reports as per requirements
•Gain understanding on Sales commission processes(Sales Employee & Partner) and configure any changes in commission plan within Varicent.
•Support User Account Management (Creation/Changes)
•Engaging with Vendor for IR, Upgrades, and Various feature requests.
•Assessing /evaluating impact on Commission system arising out of any change in source/target system
  • Monthly Commission Statements accessed by Payees Sales and Partner Sales
  • Other Finance Support Teams access various Commission Reports
  • Usage by HR function in sales person new joiner, leaver, legal query etc
  • NA
  • NA
  • NA
  • Discovery Dashboard feature to cater high level commission information to management on compensation plan parameter behaviours
  • New Inquiry Module
  • Symon AI and Scenarios
  • Forecasting
No issues with the software
Excellent and timely support
No
  • Product Features
  • Product Usability
  • Strong consulting partnership
  • Product functionality and performance
NONE
  • Implemented in-house
Yes
Change management was minimal
NA
  • NA
  • NA
  • NA
NA
  • Online training
NA
NA
Would say some training is required for professionals using it for Customization or implementing new development.
No. Would recommend everyone to enrol for training prior usage.
NA
NA
Some - we have done small customizations to the interface
NA
No - we have not done any custom code
NA
NA
NA
No
  • Building CALCULATION
  • Building Presenter Report
  • Scheduling Jobs
  • WorkFlow Manager
  • Pulse Reports
  • Web Forms
Yes, but I don't use it
NA
NA
  • NA
  • NA
  • NA
NA
  • NA
  • NA
  • NA
NA
  • File import/export
  • Single Signon
  • API (e.g. SOAP or REST)
NA
NA
NA
NA
Excellent Support
NA
NA
Yes
NA
  • Health Dashboard
  • Selective Period Purging
  • Even lesser calc completion time than current
  • Fast navigation
  • Presenter Reports to be visually more appealing
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