Varicent Reviews & Insights

We use it for calculating compensation payments & performance, creating dashboards & reports, and creating workflows and business processes. Using SPM products, we are able to automate our manual tasks.

The tool can be used when there is a need to calculate payments. It is great when trying to automate manual tasks. It makes the work of the sales admin team easier by managing their day-to-day activities in an efficient way.

Varicent SPM is used for incentive compensation management for real estate line of business and solves for the problem of complex business rules and plans for variable compensation. Our case involved daily & bi-weekly calculations based on product sales and volumes

Variable compensations where plans and business is complicated
Reporting can be improved

We use the Sales Performance Management tool to calculate incentives based on product sales and revenue.

It amplifies sales strategy and commission calculation, ensuring the privacy, security, and confidentiality of our customers and visitors.

Varicent SPM or compensation calculation is used for multiple sales channels. Compensation is calculated for various products that our organization offers to its customers. We also use the Presenter Adaptive to create dashboards for Payees and data visualization. Payees can log in to the application to view their commissions and have a breakdown of every dollar paid to them.

Varicent SPM is user-friendly and one of the best incentive/compensation tools available in the market. My organization has been using the ICM / SPM tool for more than 5 years, and they have really good feedback on the product. They have been investing heavily in modernizing their tool in a timely manner.

We use it in two of our business channels. The first one is for the Compensation of Mortgages and FlexLines for our Mobile Mortgage Specialists. All our earnings are calculated within ICM, and we also use it to produce their Statement of Earnings. The other Channel is our Mortgage Broker Stream, we use ICM to calculate Commission earned by Different Brokerages.

For the use cases we have at the bank, ICM is a perfect solution. For any bank or institution that has similar requirements, ICM would be a perfect solution. But I also think for any use case that has any sort of incentives based on Sales done, this would work amazing, as both Calculations and reports are handled by ICM very well; it's an all-in-one solution, I feel like.

The upside of Varicent is its ease of implementation and ability to draw results instantly without publishing the calculations every time. It's easy to use, and the features are always improving. Sometimes, some features don't work unexpectedly but get resolved by themselves in a while. I'm using this tool to work with compensation management and drive the data effectively. It's hassle-free, and the components make it easy to segregate.

Best suited for sales planning and report generation. Also works well while creating the visualizations, which helps in getting some insights into the sales. Less appropriate for areas other than sales and compensation.

We use Varicent as our Incentive Compensation Management system company-wide to support our worldwide sales organization representing employees in 37 countries. We have around a dozen different comp plans made up of anywhere from 2 to 6 components (aka measurements) for each plan. We pay monthly, but these plans include monthly, quarterly, and annual bonus components.

In my opinion, seems to over promise and under deliver. It is very difficult post-implementation to get assistance, and the software is not intuitive enough to operate effectively without ongoing support. We are required to log tickets to Varicent Support, which generally take several weeks to be addressed, and can take months to actually be resolved. We have several high priority issues that were initially raised during implementation and have yet to be addressed more than 6 months post-implementation.

We use Varicent as a Commission Tool. We have a very vast Commission plan which needed dynamic system for automation. Varicent has helped us to create a fully automated and easy to use reports and calculations. Varicent has given us scope to create a simpler version of dashboards and reports.

More and Brilliant ways to automate the commission calculation system. Easy-to-use and user-friendly web reports. After we started using Varicent, we can now look after all these tasks from a single tool which saves us abundance of time and energy for other stuff. Management of reports are great and easy.

We use it for executive and wholesale business compensation, which is largely discretionary compensation. It does not have any sales component, which makes us an "odd duck" amongst other Varicent customers. Also, because of the visibility of the application, we have a lot more requirements for usability and real-time calculations.

I would recommend it to those who use it for sales compensation and performance management where the product is constantly developing. Being an "odd duck" by implementing broad compensation, we are not on the strategic roadmap with the features we need.

We use Varicent to calculate all sales compensation at Quest Diagnostics, as well as to calculate the key Sales Performance metrics that drive the business and that serve as the basis of the compensation plans. Our Sales leaders rely on reporting in Varicent to help them manage their teams, identify high performing reps, and reps that are underperforming.

Varicent grew up as a compensation calculation engine and it certainly excels in that scenario. They have invested heavily in modernization of the user interface for both administrators and end users so that the presentation and user experience are equal to the power of the back end.