Powerful Incentive Compensation Tool
March 13, 2021

Powerful Incentive Compensation Tool

Anonymous | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User

Overall Satisfaction with Varicent Incentive Compensation Management

Currently we are using Varicent for managing the sales and partner compensation for quite long. Varicent has been able to make the complex calculation easier to understand for the sales community which helps sales to focus on the core job they have rather than understanding the complexity of the calculations/ Incentive plan.
  • Ability to do the backdated changes for the months which are locked to compute the amount accurately
  • Inquiry management features helps to track the sales inquiries timely and within SLA
  • Scenario creation for Simulating the data so that we don't need to create the complete calc or run a parallel model
  • Enhanced reporting features and ability to easy customization of reports
  • Selection criteria level has some limitation while raising the inquiries, it will be good to have if we have multiple level selection joined together
  • V9 was having the ability to sideshow the tables while in V10 we need to open it in different tab
  • Health dashboard suggest which calc has problem, if it also recommend way to optimize the calc will be really helpful
  • The computation time has really helped Operations team to manage the request across various time zones.
  • The accuracy on commission calculation has resulted in low inquiries by sales
  • Helped in automating manual reporting from excel to Web directly
Varicent is more business user friendly and allows customization at various levels. Fast calculations time allows admins to cater the developments and operational requirements fulfilled across time zones.
Varicent support is quick to respond and have come up with various programs that help clients solving the issues timely and training the resources if needed.
During the year migration, we faced some issues where the calculations were stuck and we had to cancel them multiple times. This was highlighted to the CSM, who with the help of the support team analyzed the issue in real quick time with the Cloud team and helped in smooth migration timely
Varicent is quite flexible to incorporate changes during the running compensation month/year. The ability to incorporate various backdated correction scenarios like changes in portfolio / targets from locked months allows the admin not to manually compute the payout difference.
It also allows to expand the number of Admin/ web user as per the requirements
Best suited to cater the requirements where you have multiple components with different payout bands to pay the commissions for your sales team. It helps doing the adjustments for the locked period which helps in paying the commission more accurately as sales can see the adjustments flowing for prior months

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