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Sales Performance Management -- Varicent
Updated November 01, 2021

Sales Performance Management -- Varicent

Kumar Manas | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User

Overall Satisfaction with Varicent Incentive Compensation Management

Varicent Incentive Compensation Management is used by the commissions team in my organization. We calculate incentives of the sales rep through this tool. It is quick, easy to maintain, calculates plan/incentive correctly, change in plans for coming years can be implemented easily. Kind of robust tool. Charts/graphs have made the dashboard more user-friendly and easy to understand.
  • Automation of processes are smooth.
  • Linking with external tools is easy.
  • Making of calculations, presenter reports requires very less training.
  • As [the] model gets more and more transactional data, the calculation time increases. This should/can be handled internally with better model optimization.
  • Migrating from one env to other sometimes is challenging. There can be better 'Alerts' or 'Explanation' provided to handle it or at least to give a hint of the error.
  • For managers viewing their rep's report, the access part can be made easier. It should be linked to Payee hierarchy and access can be done automatically.
  • We had fewer compensation calculation errors.
  • Auditing is very fair so lots of transparency.
  • Payroll day is calmer and easy.
Once Varicent ICM is implemented by the professionals on the client-side, it's easy for the client's admin to handle queries, do daily activities, run reports, scheduler, etc. Maintenance is easy and can be done with minimum training to the admin. Business users also find this tool easy to use and maintain.
There was a time when in production a structural table data was deleted, this had a cascading effect, and data from other tables were also getting deleted. We called Varicent support immediately and they stopped the server and this mishap was immediately stopped. This averted a very big issue that could have disrupted the system.
Varicent provides lots of scalability. Payees can be accommodated if raised exponentially too. Change in plans can be handled 'n' number of times in a year. Configuration changes handle many of the parameters and hence are easy to maintain, easy to handle by the admins and changing plans in this dynamic industry is easier to get accomplished.

Do you think Varicent delivers good value for the price?

Yes

Are you happy with Varicent's feature set?

Yes

Did Varicent live up to sales and marketing promises?

I wasn't involved with the selection/purchase process

Did implementation of Varicent go as expected?

Yes

Would you buy Varicent again?

Yes

Varicent is well suited across all the domains (Finance, Insurance, Hi-Tech etc.) for sales incentive calculation. It can tackle the difficult scenarios/conditions provided by the client. This tool may not or should not be used in incentive forecasting. It's not a planning tool. Small scenario modeling can be done here but not on a large scale.

Varicent Feature Ratings

Sales ICM
9.6
Sales compensation plan creation
10
Complex sales crediting
10
Sales compensation process automation
10
Incentive auditing/regulation compliance
10
Sales compensation dashboards & forecasting
7
Incentive modeling
10
ICM mobile visibility
10

Using Varicent Incentive Compensation Management

20 - All the people in my organization who are using Varicent are somehow related to Commissions Payout. We have commission Analyst, Business analysts, Admins for Varicent, Model developers (Calculations, presenter reports etc.) of Varicent and a couple of senior management members too who closely see the reps' performance territory-wise or agent-wise.
10 - There is a good amalgamation of developers and testers who work on a regular basis to keep the show running for Varicent. There can be some plan changes or new enhancement requirement which needs to be implemented in an ad-hoc manner. The model developers and the report developers generally work on the requirements which are tested by the testers. The tool is easy to understand and developers can be trained in the tool very quickly. Basic knowledge of SQL queries and DB helps in learning this tool quicker but these are not mandatory as the tool is very easy to learn.
  • Monthly roll out on incentives of the sales rep.
  • To check the best performed sales rep and best performing territory.
  • Territory and Quota management.
  • We have used workflows very effectively in our organization. Approvals are seamless and defect free now.
  • The integration with D365 and Callidus CPQ has given us more power to have a seamless data entry as these systems are our upstream.
  • Most of our process are automated because of wise use of schedulers and saved imports. They are used very innovatively.
  • They are use in planning and forecasting.
  • We have exciting AI (Symon.AI etc.) in place which is going to predict like which agent or territory is going to perform better or worse in next cycle or something like this.
Almost all our problem has this one-stop solution. And with so many innovations (like Adaptive Reports etc.) it's becoming easier and smoother to use the tool. The maintenance is very easy, doesn't require a highly skilled person and admins can be trained easily. Incentive compensation calculation is easy and always gives the correct result. Configuration of table is easy.

Evaluating Varicent Incentive Compensation Management and Competitors

Yes - We were using Xactly previously. The configuration was not easy in Xactly and we had to do a lot of manual work before each payout cycle. Implementation of new plans was also not easy. These issues made us switch to Varicent. Development was not very simple there and usually gave us lots of bugs.
  • Product Features
  • Product Usability
  • Product Reputation
We needed a reputed product from the industry which is a bit robust, secure and helps in our day to day compensation payout process. Product should be easy to use for agents and customers. It should have all the requirements which we need now and should be scalable if wished to make some/any changes in the future.
We will see the computation time or calculation time for full model run. We would see the effective price of the new product. We are very keen on security and SSO to be in place. The product should be easier for our developers to maintain and it should be easy to learn.