Item: Varicent
Rating: 8
Author: Luis Ruiz

Use Cases and Deployment Scope

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.

Pros and Cons

Very user friendly
Timely process
Technology support is exceptional

Ownership on component builds
Better understanding of customer needs
More integrated testing process

Return on Investment

Fewer calculation errors
increased transparency
More user friendly

Usability

It is very easy to use Varicent, the GUI is extremely clear and allows any user to understand the provided information. Navigating the system is done with ease as transitioning screens are quick and responsive. Varicent allows me to troubleshoot without any hassle or concern, depending on the issue. If it is something that requires an additional ticket, it is very easy to do so with their technical support

Exceptional Examples of Varicent Support

A couple of months ago, while testing some component functionalities, the system was timing out (screen loop ongoing). I was able to IM our Varicent support team and they were able to reply with a quick turnaround response and opened up a ticket with their technical support in order to analyze the issue.

Scalability

It is impressive to create, analyze, and maintain Compensation data within Varicent. It allows admins and business SMEs to easily grasp the data and provide deep analysis and information on the advisor and or branches' request. Knowing that the software is backed up by an amazing support team, gives the business a sense of comfort knowing that any issue or out-of-the-ordinary request will be taken care of.

Alternatives Considered

SAP CLM, discontinued and Majesco P&C Suite

Budget-wise, reporting, and System availability-wise. Varicent hands down provides a better environment for compensation deliverables and management reporting which includes all of the financial needs we require. The following components were able to determine our pick. Functionality, technical, and referential availability were measured and successfully provided the expected results in all areas.

Key Insights

Do you think Varicent delivers good value for the price?

Yes

Are you happy with Varicent's feature set?

Yes

Did Varicent live up to sales and marketing promises?

Yes

Did implementation of Varicent go as expected?

Yes

Would you buy Varicent again?

Yes

Other Software Used

Oracle PeopleSoft ERP, IBM Cognos Analytics, Azure SQL Database

Likelihood to Recommend

The system is pretty clear and straightforward to understand. The logic and workflows help admins understand the system's scope, which will facilitate the troubleshooting, if required, throughout the day. The daily meetings we have with the Varicent team help clear out any issues we are currently having and allow them to also understand the business needs.

Overall Varicent Satisfaction

Overall Satisfaction with Varicent