Overview
What is Varicent?
From quotas to sales and compensation, Varicent helps revenue leaders in enterprise organizations chart a more effective, connected path to revenue by providing vital data, insights, and sales go-to-market planning tools.
Varicent's masterpiece
My Incentive Performance Review
Varicent - Sales Performance Management.
ICM Review
Making work easy.
Decent Partner in the ICM Space
Usability of Varicent
Flexible but use it for what it is designed to do!
Successful 10 year partnership with Varicent
Onboarding Varicent
Good data in, good payroll out.
Varicent not worth the expense or hassle
Overall Varicent Satisfaction
Good Value Incentive Compensation System, Highly Customizable!
Awards
Products that are considered exceptional by their customers based on a variety of criteria win TrustRadius awards. Learn more about the types of TrustRadius awards to make the best purchase decision. More about TrustRadius Awards
Popular Features
- Complex sales crediting (48)7.575%
- Sales compensation process automation (52)7.373%
- Sales compensation plan creation (48)7.272%
- Sales compensation dashboards & forecasting (47)6.666%
Reviewer Pros & Cons
Pricing
What is Varicent?
From quotas to sales and compensation, Varicent helps revenue leaders in enterprise organizations chart a more effective, connected path to revenue by providing vital data, insights, and sales go-to-market planning tools.
Entry-level set up fee?
- No setup fee
Offerings
- Free Trial
- Free/Freemium Version
- Premium Consulting/Integration Services
Would you like us to let the vendor know that you want pricing?
22 people also want pricing
Alternatives Pricing
What is Visdum?
Visdum is a Sales Compensation System built to help companies manage and optimize sales incentives, to produce a motivated sales team. Visdum is a no-code SaaS platform that allows companies to design and automate any compensation plan, with the flexibility to add SPIFFs, Bonuses, and Kickers.…
Product Demos
Interactive Product Tours of Varicent Solutions | Varicent
Features
Sales ICM
Features around incentive compensation management for sales
- 7.2Sales compensation plan creation(48) Ratings
Easy for Sales to create incentive compensation plans without IT assistance.
- 7.5Complex sales crediting(48) Ratings
Users can set up complex crediting chains to attribute credit for sales to multiple tiers of employees and/or partners.
- 7.3Sales compensation process automation(52) Ratings
Automates processes related to sales compensation, like incentive and quota plans, approvals, dispute resolution, payroll processing, etc.
- 6.5Incentive auditing/regulation compliance(46) Ratings
Internal workflow and tracking elements create an audit trail and help ensure regulatory compliance.
- 6.6Sales compensation dashboards & forecasting(47) Ratings
Analytics tools give sales ops managers and/or reps a view into sales performance in terms of sales vs. quotas, as well as earnings so far and projected payouts. May include competitive stats.
- 6.4Incentive modeling(43) Ratings
Includes a sandbox or testing environment for users to explore what-if scenarios and develop incentive compensation strategies.
- 6.5Agile incentive strategy(38) Ratings
Incentive plans are flexible; users can create and adjust compensation plans and incentive rules in order to strategically adapt to changes in sales performance/the marketplace/corporate goals.
- 6.4ICM mobile visibility(32) Ratings
Real-time reports about sales performance and compensation are accessible on mobile devices; may also allow managers to update plans and/or reps to submit questions, disputes, etc.
Product Details
- About
- Integrations
- Competitors
- Tech Details
- FAQs
What is Varicent?
Varicent is a SaaS company that helps businesses fuel growth. Its suite of solutions support a company’s revenue journey, from results-driven planning and predictability to growth. Varicent helps companies worldwide to set smarter goals and territories to maximize revenue potential. Varicent enables teams with AI-driven insights to make better decisions and outdo previous performance, and to create incentive strategies that motivate the right behaviors to achieve revenue goals. To learn more about Varicent, visit www.Varicent.com.
Varicent, Varicent and design, and Symon are trademarks or registered trademarks of Varicent in the USA, Canada, and other countries.
Varicent Features
Sales ICM Features
- Supported: Sales compensation plan creation
- Supported: Complex sales crediting
- Supported: Sales compensation process automation
- Supported: Incentive auditing/regulation compliance
- Supported: Sales compensation dashboards & forecasting
- Supported: Incentive modeling
- Supported: Agile incentive strategy
- Supported: ICM mobile visibility
Additional Features
- Supported: Incentive plan management
- Supported: Sales events and eligibility management
- Supported: Modeling
- Supported: Assignments
- Supported: Data integration
- Supported: Dashboards and reporting
- Supported: Post pay management
- Supported: Workflows
- Supported: Analytics
- Supported: Pay data integration
Varicent Screenshots
Varicent Video
Varicent Integrations
- Salesforce Sales Cloud
- ERP
- CRM
- HCM
- Point-of-sale
Varicent Competitors
Varicent Technical Details
Deployment Types | On-premise, Software as a Service (SaaS), Cloud, or Web-Based |
---|---|
Operating Systems | Windows, Linux, Mac |
Mobile Application | Apple iOS, Android, Windows Phone, Mobile Web |
Supported Countries | Global |
Supported Languages | Chinese-simplified, Chinese-traditional, Dutch, English, French, German, Japanese, Italian, Korean, Portuguese (Brazil), Spanish, Swedish, Turkish, Polish |
Frequently Asked Questions
Comparisons
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Reviews and Ratings
(123)Attribute Ratings
- 8.9Likelihood to Renew15 ratings
- 5.2Availability3 ratings
- 5.8Performance3 ratings
- 7.1Usability59 ratings
- 6.8Support Rating6 ratings
- 7.7Online Training2 ratings
- 7.7In-Person Training2 ratings
- 6.8Implementation Rating6 ratings
- 5.2Configurability3 ratings
- 6.8Product Scalability58 ratings
- 4.3Ease of integration3 ratings
- 5.9Vendor pre-sale3 ratings
- 5.9Vendor post-sale3 ratings
Reviews
(1-3 of 3)Powerfull, Flexible SPM environment, delivered by a passionate team of professionals
- Flexibility - Varicent is not template based. You can implement the model specifically for your organisation.
- Scalability - Since it is not stick to templates you are able to expand the model for other domains as well.
- Reporting - Several ways of reporting are possible and each has their own benefit/purpose.
- Strong/Powerfull Calculation Engine delivering fast results/speed to insight
- User Interface is minimized to what you need and is not showing off all the functions it can "also" do
- Strong audittrail
- Appears to be almost unlimited in what you are able to create
- Workflow Management works fine, but it is not on same "level" with rest of product.
- Inquiry Mangement works fine, but it is not on same "level" with rest of product.
- Sales compensation plan creation
- 90%9.0
- Complex sales crediting
- 90%9.0
- Sales compensation process automation
- 90%9.0
- Incentive auditing/regulation compliance
- 90%9.0
- Sales compensation dashboards & forecasting
- 90%9.0
- Incentive modeling
- 80%8.0
- Agile incentive strategy
- 90%9.0
- ICM mobile visibility
- 70%7.0
- 95% reduction of calculation time
- 3125% increase of logins
- 50% reduction of Admins
- Reduction of Plan implementation by 3 months
- Speed to insight increased from weekly to daily
2 Business Admins
1 Business Analist
1 Finance Analist
Rest are payees/salesreps and/or Sales Managers
Skill level is standard excel and know how to navigate a website.
For innovation/development and looking for expanding the model you need a brain that is good at data modelling (what is the source data, what is the expected output and how do I get there)
- Compensations of Sales
- Compensations of Business Partners
- Territory Management
- Automation of processes
- The level of automation was unexpected. All manual work for our compensation plan is down to 0%, except for supporting hierarchy changes.
- Data Discovery Dashboards are great for many, many purposes (reporting, admin education)
- Automating more manual processes outside of compensations domain
- Centralize communication within the system
- Price
- Product Features
- Product Usability
- Product Reputation
Only thing I would change is speed up this process. On the content I would not make any change. We have been very, very detailed and did not "just" make our decision.
- Implemented in-house
- Third-party professional services
Our second model for Partners was implemented together with Cognizant.
Our thrid model for a different domain was implemented together with Cognizant.
Discovery:
Many discussions/meetings to make sure we are all on the same page regarding our data, processes etc. etc.
In other words: WHAT do we need
Design:
When the WHAT is known, the next phase is the "HOW".
When all that is known and done... building is least of the time spent on the implementation.
- Aks the vendor for best practices in order to get highest flexibility for future changes.
- None that I can remember
I was the best project I have ever been responsible for/working on where my brain got challenged every hour of the day.
Good times!
- Online training
- in-person training
- no training
But, the training could be better if it is more focussed on our process/data etc.
If you understand your model, all these new functions can be learned easily by just trying them out and ask a support question here and there.
You "basically" have 4 main options to create (table, calcs, datastore and reports).
I have not found anything so far that I could not configurate/built etc.
Do you require yearly changes on the same basics? The consider a more "table driven" approach, where you can configurate the way the model works, based on configurations stored in tables (instead of building more calcs).
We used it to clean up some data before putting it in the tables (adding unique ID for example)
They are all doing a great job in replying fast and making sure you know what they are doing when something is wrong/needed.
I am not even sure premium is offered, but if it is... i would not know the difference from current "standard".
Then they reproduced it and all their findings went to the development team.
All steps of the way I knew about the status, who was my point of contact etc.
- Composer
- Managing data
- Data Discovery
- Navigation
- Workflows
That is a 10 in my book.
Reports are loaded directly or within seconds and our reports are very detailed with many columns and rows.
- Salesforce
It was not that hard, you can either use the built-in API and schedule the import... or you can go with an external tool like Python inside ICM and restrict the API a bit more to reduce data being pulled. We are also sending data back from ICM into Salesforce.
- No
- File import/export
- Single Signon
- API (e.g. SOAP or REST)
They take their time to make sure the "pre-discovery" gets done correctly and complete.
Implementation team is best experience I have ever had in a big project.
- Data Discovery
- Ask Varicent Assistent
- New UI for Admins
- Inquiry process
- Workflows
- Locking data of previous comp runs
- Scheduler jobs
- Auditing
- Workflow processing
- Good user interface
- Hard to build complex queries with locked functions.
- Hard to integrate with other solutions because of lack of API interface.
- Hard to design data base model since its not a relational database.
- Sales compensation plan creation
- 50%5.0
- Complex sales crediting
- 60%6.0
- Sales compensation process automation
- 60%6.0
- Incentive auditing/regulation compliance
- 80%8.0
- Sales compensation dashboards & forecasting
- 80%8.0
- Incentive modeling
- 70%7.0
- Agile incentive strategy
- 60%6.0
- ICM mobile visibility
- 60%6.0
- Fewer manual errors.
- Automation has increased.
- Data integrity is maintained for long term audit requirements.
- compensation
- pay cycle
- batch jobs
- audit trails
- calculations
- data store
- analysis
- Product Features
- Product Usability
- Third-party professional services
- year end processes integration
- no training
- search
- scheduler config
- none
- no
- File import/export
- not done upgrade
- not sure
Following business problems are addressed by Varicent ICM in my organization:-
- One-stop solution related to all sales commission queries via inquiry module
- ICM Simplicity and Robustness allows to implement complex business requirement as part of yearly commission plan strategy changes with ease
- Helps define sales targets as part of yearly target planning excercise
- Discovery Dashboard feature caters high level commission information to management to watch-out for deviations and behavioural trends in commission plan for its timely check and future improvement
- Easy Calc build method to implement complex business logic like , ew component quota management, component credits, attainment, payout factor and finally payouts
- Implementation of new component : ACV-GAM and IBR-GAM implemented in 2020 covers all detailed above
- Ease of building and editing Presenter reports with vast features for report customization
- like Commission Summary Statement for Payees and Partners
- New features like Discovery Dashboard, Symon AI, Health Dashboard enhanced overall product scalability and usage
- Regular customer interaction from Varicent Customer Success Manager wherein customer is updated on new product offerings, supports on bundled features usage like data purging, webinars and issue resolution if any in particular
- Always prompt ticket response from Varicent Support towards ticket resolution
- Ask Expert Time feature allows customer to interact with Varicent Representative directly on guidance required on implementation or understanding Varicent features
- To add multiple clacs in one-shot for index rebuild operation in Scheduler
- Currently, option allows adding one calc/table at a time
- In health Dashboard, if clacs and tables should also reflect current index fragmentation level so that timely actions can be taken on model health
- More visually appearing feature could be added in Presenter Report for designing like smooth headers row, or shade feature, different fore-colour for different at attributes or tuples level, grouping and un-grouping records on attribute values etc.
- To incorporate facility to migrate maintenance plan (index regenerate/rebuild) created within Scheduler in one model to migrate to other models
Bundled features make implementing business requirement very simple and yet scalable
Quota and Territory Management
Scheduler Jobs, Saved Imports and Saved Publication
Scenarios where it is less appropriate:-
Nothing encountered till now
- Sales compensation plan creation
- 80%8.0
- Complex sales crediting
- 90%9.0
- Sales compensation process automation
- 80%8.0
- Incentive auditing/regulation compliance
- 90%9.0
- Sales compensation dashboards & forecasting
- 80%8.0
- Incentive modeling
- 80%8.0
- Migration to v10 from v9 has increased admin application usage simply because of ease of access, as v10 is web based while those version prior to v10 were non web-based. All this with no additional cost.
- For the last 3 years tenure in the organisation, with Varicent I never observed incorrect commission computed because of calculation error
- Our belief and consistent Varicent Support had always helped implement new compensation plan strategy without any glitch
- Sales Productivity has improved as they don't have to spend time emailing compensation queries or concerns related are readily addressed on PayeeWeb Reports
- Simple yet robust to use
- Excellent Varicent Support
- Product has been scaled up to meet requirements like Analytics and Forecasting via Symon AI, Discovery Dashboard feature and may more new and interesting featured added like Health Dashboard, selective data purging etc.
Colt Customer Success Manager's and Varicent representatives support is commendable especially in identifying root-case and proposed solution post which calc completion time came back to normal.
This helped business operations with adequate window to carry out business operation changes received almost daily.
- Create internal/operational efficiencies
- Enhance decision making
- Drive innovation
- Improve compliance & risk management
- Product roadmap and future vision
- Strong consulting partnership
- Product functionality and performance
- Monthly Commission Statements accessed by Payees Sales and Partner Sales
- Other Finance Support Teams access various Commission Reports
- Usage by HR function in sales person new joiner, leaver, legal query etc
- NA
- NA
- NA
- Discovery Dashboard feature to cater high level commission information to management on compensation plan parameter behaviours
- New Inquiry Module
- Symon AI and Scenarios
- Forecasting
Excellent and timely support
- Product Features
- Product Usability
- Strong consulting partnership
- Product functionality and performance
- Implemented in-house
- NA
- NA
- NA
- Online training
No. Would recommend everyone to enrol for training prior usage.
- Building CALCULATION
- Building Presenter Report
- Scheduling Jobs
- WorkFlow Manager
- Pulse Reports
- Web Forms
- NA
- NA
- NA
- NA
- NA
- NA
- File import/export
- Single Signon
- API (e.g. SOAP or REST)
- Health Dashboard
- Selective Period Purging
- Even lesser calc completion time than current
- Fast navigation
- Presenter Reports to be visually more appealing