Item: Varicent
Rating: 10
Author: Verified User

Use Cases and Deployment Scope

We use [Varicent Incentive Compensation Management] to compute commissions for US Sales team. We utilize for the processing of the commissions only as we have a in-house application that handles our CRM needs. Sales data is pulled into the system by territory and we use the fund tables and calculation engine to compute commissions amounts. The final product is sent via secure transmission to our HR payment system for payment to Sales team.

Pros and Cons

Custom calculation functionality
Audit tracking
Portal capabilities

Report creation is very difficult
Effective dating on territories
Calculation run times too long

Return on Investment

Increased visibility into the details that make up overall quarterly commissions
Transparency for Sales Managers to view their team's monthly commission figures in one place
Detailed audit capabilities that are easy to follow for RQA and Sales Leadership

Usability

It was extremely difficult to create reports. We had to download data and create them in other applications. This was very limiting and required a great deal of time and effort. Drag and drop functionality is needed so we can self serve in the product.

Exceptional Examples of Varicent Support

Our RM, Heidi Kelly, and Sales Rep, Alka Gautam, are extremely responsive and supportive to our firm. We had a calculation issue and they rallied the teams and got us the technical resources we needed on a Friday night to resolve the problem by Monday. Their attention to detail is one of the reasons I have no issue recommending Varicent.

Scalability

I feel the system can do so much more than we use it for today. Unfortunately, we have an in-house proprietary system that overlaps with the full suite of Varicent and ICM.

Alternatives Considered

In 2015, we used a scorecard containing 80 attributes in our review of Oracle, Callidus, and Xactly & Varicent. Oracle did not have true self serve capabilities- programming was heavily required, not intuitive, out of the box functionality was limited. Callidus & Xactly could not provide us a demo using our data, statements could not be sent out in bulk form, difficulty in importing/exporting to CRM. Varicent excelled in most areas and was the clear winner.

Likelihood to Recommend

[Varicent] Incentive Compensation Management is well suited to perform custom calculations for complex commission plans. Our plans were very complex and included many variables and monthly exceptions. (Ex. product, fund, FA, territory, date ) The implementation team was able to create calcs that handled every variable we requested. The portal was key to our success so our sales team could log in directly and see exactly how they were paid for each product and FA. AND they didn't have to worry about saving copies each month as they could always refer to the portal.

Incentive Compensation Management

Overall Satisfaction with Varicent Incentive Compensation Management