What is Varicent Incentive Compensation Management?

Varicent (formerly IBM Cognos Incentive Compensation Management, or IBM Sales Performance Management) is presented by the newly reformed vendor as a Sales Performance Management (SPM) Solution that will accurately track, manage and report on sales-related data and processes to reduce administrative….

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.

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