Varicent ICM works for us. Recommended!
Updated October 29, 2021
Varicent ICM works for us. Recommended!
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.
- Flexibility
- Data Volumes
- Varicent Support
- Product Development
- 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
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.
I was bought onto the project once product selection was already made.
Varicent Feature Ratings
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