Item: Varicent
Rating: 9
Author: Umayr Kayani

Use Cases and Deployment Scope

It has automated the compensation payments for our company, where we pay 1500 employees, and has eliminated manual errors in calculations.

It allows managers to review and approve bonuses with an audit trail. It allows payees to access their bonus at any time remotely.

It also provides automated analytical reports.

Pros and Cons

Analytical reports.
Compensation reports accessible on mobile devices.
Data Discovery reporting.

Personalizing reports.

Return on Investment

Few compensation calculation errors.
Increased transparency into compensation plans.

Usability

The reports were not interchangeable initially, but this was soon amended.

The mobile access to the bonus reports have proven to be very useful to all payees and managers.

The admin client is also easy to navigate around and to extract the relevant tables from.

The web client payee v2 would further improve the usability.

Exceptional Examples of Varicent Support

Whenever we have raised tickets they have swiftly responded resolving the queries and the account manager has been available whenever needed.

Scalability

We tend to have new schemes which have to be tested and integrated into Varicent. This is always a swift process.

Alternatives Considered

Workday Financial Management

We haven't used incentive compensation schemes previously, but using Varicent has removed errors and made the compensation process more efficient.

Likelihood to Recommend

It is well suited to automate compensation payments for thousands of employees, and automate complex schemes which can be difficult to calculate manually.

It also provides automated analytical reports which can be amended to cater for the metrics required.

It can be made easier to design analytical reports, and have process guides within the system.

Amazing Incentive Compensation Product

Overall Satisfaction with Varicent Incentive Compensation Management