Overall Satisfaction with Varicent Incentive Compensation Management
At Medidata Solutions, we leverage the Varicent implementation to service our entire global sales force. We leverage the tool to not only compensate our sales reps timely and accurately, we have built self service reports for our Finance and Operations colleagues to leverage as well. Having a ready made, single source of truth has drastically improved our organizational efficacy. In addition, it has allowed us to focus more on the strategy and insights our sales data can provide and less time searching through the data for the story.
- Enables more meaningful insights -> this is accomplished through the ability for the administrator(s) to access every grain of data that runs through the system and either report on or build calculations off of that data point(s).
- Flexibility -> both in regards to handling exceptions to the designed calculation flow or when you need to create a new plan flow. Since the system is structured to be driven by table data, you typically never need to augment the calculation logic itself for minor changes. You simply either edit or add some new data to a few tables and most of the iterations you need to accommodate can be achieved.
- Full ownership by the client -> once you have been trained (which is another area Varicent as a whole excels at), you have full control over what happens inside your implementation. You have access to complete any task imaginable and will only be limited by your skill level and imagination.
- The only item I can see making this product even more useful than it already is would be the addition of a data discovery layer for the admin users. Enabling us to interact with the data leveraging SQL or some other language would make it that much easier for us to access and analyze the data and eliminate the need for us to pull the data out of the system in order to massage as needed.
- Increased transparency into compensation plans.
- Fewer errors and decreased validation time.
- Drastically shortened lead time between new plan conception and roll out.
The usability, while extremely intuitive, does require a slightly higher programming understanding than its competitors. The need to understand join logic and the implications thereof is paramount in being able to bring the full system administration duties in house. This is the only reason I didn't give it a 10/10 rating.
I cannot say enough about the support team at Varicent. I have worked with them on projects ranging from Okta Single Sign-On issues through migration to newer versions (prior to "v10"). They have always been incredibly responsive and I have found their ability to quickly understand not only the issues we were facing but the intricacies of our custom implementations to be best in class.
The table driven architecture of Varicent truly enables quick and efficient scaling. We just went through being acquired by a larger company not that long ago and instead of folding our Sales Compensation function under the parent company's remit, they ended up folding their existing sales comp into ours. This was solely based on our ability to show Varicent's flexibility/scalability in getting their plans built and running on our platform.
Out of all of the products I have ever evaluated for this space, Varicent is head and shoulders above the rest in my opinion. For me, I think of Varicent as akin to building an Access database while the other programs are like building an Excel data model. In Varicent you control everything from what tables are built to how they are leveraged with the calculations that you build. In the other tools, you are pushed into finding ways to leverage their pre-built mechanism of action and any deviation from what you build necessitates you to build a brand new plan. This is the key differentiator of a table driven system as opposed to a rule based one. The flexibility and usability is wholly unmatched.
I would say Varicent is best suited in scenarios where systematic flexibility is required (which technically would be everywhere). The ease of use and table driven approach really make the product the gold standard in my opinion and I can't see a situation where I would recommend anything other than Varicent.