Varicent Reviews & Pricing

by Varicent | Founded 2003, Toronto, Canada

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Overview Pricing Benefits Reviews Features

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What is Varicent?

Industry Specialties: Serves all industries

Varicent is a software provider that helps industries boost productivity and workforce motivation through incentives and sales performance management. It has an experienced team and preeminent partners that enable organizations to improve performance and drive profitability. The company mainly offers two resources — Diversity and Gender pay apps and a scholarship program called E.D.G.E.

It provides automating calculations, analyzing incentive compensation plans, managing sales territory assignments, accessing real-time performance dashboards, handling transaction inquiries, establishing a workflow for collaboration and making evidence-based decisions. The offerings are also categorized based on the need, role and services for ease of access.

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User Sentiment

Based on 276 reviews:

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Varicent Pricing

Based on our most recent analysis, Varicent pricing starts at $56 (Per User, Monthly).

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Starting From: $56
Pricing Model: Per User, Monthly
Free Trial: Yes, Request for Free

Training Resources

Varicent is supported with the following types of training:

Documentation
In Person
Live Online
Videos
Webinars

Support

The following support services are available for Varicent:

Email
Phone
Chat
FAQ
Forum
Help Desk
Knowledge Base
Tickets
Training
24/7 Live Support

Varicent Benefits and Insights

Why use Varicent?

Key differentiators & advantages of Varicent

Automate Calculations: Configure and schedule data imports to access transactions, products, customers and other data whenever needed. Schedule automated calculations to keep dashboards and reports updated and provide visibility to the sales team. Save money by reducing or eliminating under and overpayments.
Streamline Sales Operations: Assign sales team quotas and optimally allocate the financial objectives to all sales channels and resources using the quota program. Effectively allot and communicate job expectations, planning and monitoring for better workflow and increased productivity. Plan and review payment actions and enforce policies around crediting eligibility.
Identify Opportunities: Align corporate goals with sales methodologies and ensure sales efficiency. Predict future sales and direct the team accurately to meet the required quotas. Stay ahead of the competitors by discovering new opportunities via data recovery and augmented intelligence.
Analyze Compensation Plans: Highlight and avoid abnormal results by tracking the outliers in the sales incentive compensation plans. View reports and compare the corporate strategy with the payout plan measures to ensure efficiency. Create model scenarios and check their effect on sales performance and payouts.
Manage Sales Assignments: Manage sales assignments and quota targets by rep, account, product, geographic location or any other attribute. Create territory crediting rules to credit the right people and encourage fairness at work. Avoid missing market opportunities by identifying and realigning sales territory coverage gaps.
Establish Workflows: Configure simple or complex workflows and routing processes. Automate payout calculations and quota relief to follow a routing process that requires review and approval by sales and finance leaders. Communicate compensation plans properly via a multi-level workflow and routing process.
Track and Monitor Sales Performance: Manage all end-to-end processes using the integrated platform. Plan territories and quotas, improve revenue operations and pay sellers on time using the SPM solutions suite.

Industry Expertise

The vendor serves mid-size and enterprise businesses globally. It offers performance management solutions to various industries, including high-tech, financial services, medical devices, pharmaceuticals, telecommunications, hospitality, media, entertainment, transportation, and more.

Varicent Reviews

Average customer reviews & user sentiment summary for Varicent:

276 reviews

89%

of users would recommend this product

Synopsis of User Ratings and Reviews

Based on an aggregate of Varicent reviews taken from the sources above, the following pros & cons have been curated by a SelectHub Market Analyst.

Pros

Flexible and Customizable: Users appreciate that Varicent can be tailored to their organization's specific compensation processes, such as bonus calculations or merit increases.
User-Friendly Interface: Many users find the system easy to navigate and use, even for those who are not tech-savvy.
Improved Efficiency: Varicent automates many compensation-related tasks, which saves time and reduces errors.
Data Insights: The platform provides robust reporting and analytics features that help organizations make informed compensation decisions.

Cons

Difficult to Use: Users have reported that Varicent can be difficult to use, especially for those who are not familiar with compensation management software. Some have found the interface to be clunky and unintuitive.
Limited Reporting Capabilities: Some users have expressed frustration with Varicent's reporting capabilities, finding them to be limited and inflexible. They've noted difficulty in creating custom reports or extracting specific data points.
Poor Customer Support: Several users have reported issues with Varicent's customer support. They've described slow response times and a lack of helpfulness in resolving technical issues.

Researcher's Summary:

Is Varicent a variable you should consider for your compensation management needs? Recent user reviews suggest that while Varicent offers a comprehensive suite of features, it may not be the perfect fit for every organization. Users praise its robust customization options, allowing for tailoring to specific organizational needs, which is particularly beneficial for companies with complex compensation structures. However, some users find the interface less intuitive than competitors like Lattice, requiring more time for training and adoption. A key differentiator is Varicent's focus on sales performance management, with features like "clawback" calculations and pipeline-based earning projections, making it ideal for businesses with sales-driven compensation models.

Ultimately, Varicent is best suited for larger enterprises with intricate compensation plans, particularly those heavily reliant on sales performance. Its strength lies in its ability to handle complex calculations and provide granular insights into sales compensation. However, organizations prioritizing user-friendliness and a more streamlined interface might find other solutions more appealing.

Key Features

Revenue Intelligence: Leverage revenue insights from marketing sources to improve forecasting accuracy and sales pipeline management.
Real-Time Performance Dashboards: Create reports and dashboards for monitoring KPIs and staying consistent with business goals and objectives. Explore data patterns using augmented intelligence and get access to hidden insights and opportunities.
Territory and Quota Planning: Assign and manage territory assignments and quota targets based on accounts, products, location or other attributes to minimize coverage gaps.
Symon.ai: Enhance sales performance management with AI using symon.ai. Eliminate the need for data scientists by implementing flexible machine learning.
Integrations: Integrate with other solutions to centralize data and align business processes. Connect to systems like CRM, HRIS, BI and more. Extract, transform and load data from other enterprise solutions using the Data Import Wizard. Save time and eliminate data entry errors by scheduling and automating data imports from external systems.
Compensation Administration: Optimize incentive payout plans aligned with corporate strategies and objectives to motivate the sales team.
Augmented Intelligence: Leverage artificial intelligence and natural language processing to automate responses to salesperson questions. Guide salespeople to their plan agreements and avoid confusion. Check the model regularly to prevent inaccurate compensation for specific sales transactions.

Suite Support

Email: Not available.

Phone: Not available.

Training: Educational services via three types of training programs. Web-based training(WBT), instructor-led training (ILT) and self-paced virtual training(SPV). WBT courses and the how-to video collection through the web. ILT courses are led by an expert and include theory and hands-on experience with the solution. SPV training consists of the course Student Guide and a training environment for the hands-on experience.

Tickets: Fill out the form on the contact us page or log in to the Varicent Customer Portal.