Varicent ICM works for us. Recommended!
Updated October 29, 2021

Varicent ICM works for us. Recommended!

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

Overall Satisfaction with Varicent Incentive Compensation Management

ICM currently implemented for UK sales force and sales support. The product replaced an internally developed 'black box' solution that was slow and restricting commission plan development due to its inflexibility. ICM overcomes these factors and allows accurate allocation of orders across the organisation structure, feeding sales data into the CRM, and providing real time dashboards with appropriate drill to detail for Sales to track, check and interrogate their performance. Other reporting outbounds provide FP&A team with information relevant to their analysis needs.

Pros

  • Flexibility
  • Data Volumes
  • Varicent Support
  • Product Development

Cons

  • Running a block of calculations - instead of only individual or whole model
  • Independent identification of fragmentation, etc. issues with calcs/tables
  • Since ICM has been implemented gross margin has increased. Coincidence?!
  • Minimal commission calculation errors
  • Sales Commission dashboards and the detail available behind them have increased confidence in commission calculation and results across the sales force
If you have the necessary skills then developing plans and resolving issues, etc. within ICM can be performed independently in most cases
During the upgrade from v9 to v10 ICM experienced a significant drop in performance regarding runtimes for us which impacted on the businesses internal SLA's. Varicent provided model reviews, calculation optimisation advice and regular project management and technical calls to get the model in shape to allow us to migrate.
Since implementation the number of user has not significantly changed so scalability has not been demonstrated to us yet
I was bought onto the project once product selection was already made.
Build flexibility allows complex plans to be accommodated. Order line level reporting requirements of the business are met. Fast runtimes ensure data is made available for ICM Dashboards/CRM at start of day. Varicent Support provides confidence that issues can be quickly resolved

Varicent Feature Ratings

Sales compensation plan creation
10
Complex sales crediting
9
Sales compensation process automation
7
Incentive auditing/regulation compliance
Not Rated
Sales compensation dashboards & forecasting
8
Incentive modeling
8
Agile incentive strategy
Not Rated
ICM mobile visibility
Not Rated

Using Varicent Incentive Compensation Management

240 - ICM is used in SCC by Sales, Sales Management and Sales Admin to monitor how individual and/or team performance is driving their commission payments. Daily updated dashboards offer summary information and drill functionality to order line level data of all booked and invoiced transactions. Finance also use ICM to generate detailed management reporting and calculation of commission accruals.
3 - A Commission Accountant and System Administrator ensure ICM is operating smoothly, with tables updated as required to complete the monthly commission cycle and that data inbounds, source systems and processes are clean and accurate. A Database Analyst is available to provide support in developing new calculations and optimisations as new plans and plan changes are introduced.
  • Daily updated Dashboards allow Sales Executives and Account Managers to see how their commission numbers build throughout the month order by order.
  • Sub sections of the Dashboard identify unpaid items to allow Sales to focus on closing transactions to release 'Paid on Paid' elements of commission.
  • Finance Reporting is enhanced by the detailed invoiced and accrual information ICM is able to deliver.
  • ICM's specific crediting functionality allocates orders accurately to individuals, teams and branches which is used to update CRM daily as now preferred over ERP process
  • Plan creation, distribution, e-signature, etc.
  • Dashboards for Mobile
Varicent ICM delivers on its core goals and the product development matches in many regards the goals of our Business allowing us to hopefully exploit the application more and more.

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