Item: Varicent
Rating: 10
Author: Ashan Wickramasinha

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 and Cons

Calculate Compensation.
Workflows
Reports

Calculation Run Times.
Accessibility

Return on Investment

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

Usability

It is very user-friendly; Comp Admins have an easy way to figure out when something goes wrong. Our End users(Mortgage Specialists) experience is great for their reporting. Ease of Development of Calculations and the ease of Testing. These are all examples of why I gave a high rating for Varicent.

Exceptional Examples of Varicent Support

Whenever we run into any issues like Calculations getting stuck or a Calculation not ending, the quick support from Varicent to resolve these issues has been great, and all recommendations given by Varicent to improve efficiency have been very valuable as well. Scheduled Backup restores are always done in a timely manner that doesnt disrupt our Scheduled work.

Scalability

ICM is very flexible and scalable, we have had no major issues with the increasing amount of Mortgage Agents and Brokers that have joined the bank. We have not seen any major issues with the Performance of ICM due to this. We have had this system for nearly 6 years and no major issues related to performance.

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

Likelihood to Recommend

For the use cases we have at the bank, ICM is a perfect solution. For any bank or institution that has similar requirements, ICM would be a perfect solution. But I also think for any use case that has any sort of incentives based on Sales done, this would work amazing, as both Calculations and reports are handled by ICM very well; it's an all-in-one solution, I feel like.

ICM Review

Overall Satisfaction with Varicent