Varicent Incentive Compensation Review
March 09, 2021

Varicent Incentive Compensation Review

Anonymous | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User

Overall Satisfaction with Varicent Incentive Compensation Management

We use the ICM platform company wide to address our incentive compensation bonus plans. It addresses our problems of calculating bonuses manually in Excel. Teammates log in on a monthly basis to review their bonus compensation summary and approve it before we send it over to payroll for processing. This helps ensure we do not overpay/underpay our teammates.
  • Provides visibility to our teammates that they did not have before.
  • Calculates bonuses at a company wide level instead of individually.
  • Keeps historical information for us.
  • The layout currently is too bulky/same color so it is difficult to see.
  • Building out reports.
  • Adding to the system without building knowledge.
  • Fewer compensation calculation errors.
  • Increased productivity.
  • Increased transparency to teammates.
This is a hard question. Even with the training provided at an additional cost, it is still difficult to build out new plans in the platform without known background knowledge. If you know what you're doing its fine - but those of us who don't have to rely on Varicent to assist us to build out changes which comes at an additional cost.
All tickets always assist us in a timely manner and provide exceptional support. However, since the support team is not familiar with your specific model, it is hard to get answers that the developer can get to much faster.
As mentioned before, it is user friendly for those who have a background in building within the model. If there is no knowledge, it makes it harder to build out new plans or models within the platform.
It was a close tie - but it came down to the dollars.
This is a great platform for sales incentive compensation. However, Service King uses it for incentive compensation, not sales. It still allows us the flexibility that we need to complete our monthly bonus programs. It could be better fit for sales and maybe a bit more flexible for those who do not use it for a sales platform.

Varicent Feature Ratings

Sales compensation plan creation
Complex sales crediting
Sales compensation process automation
Incentive auditing/regulation compliance
Sales compensation dashboards & forecasting
Incentive modeling
Agile incentive strategy
ICM mobile visibility