Built-in Tools: Varicent
The Varicent ICM application provides the necessary functionalities to enable enterprises of every size to effectively, and efficiently manage the calculation, and compensation of complex incentive plans. The built-in Data Module provides Admins with easy access to the tables contained within the model where they can add a table, choose to view and/or export data contained within a table, or even import data from a wide variety of sources. Similarly, the Composer Module, offers a blank canvas with tools like components, various calculation, and reporting options to enable true customization of the model to meet individual organization’s specific requirements.
A client that had implemented the Varicent ICM application a few years ago, had chosen to handle their data processing outside of Varicent through various manual and access DB processes. After years of dealing with this convoluted, and tedious approach, they brought us on to advise and implement a Varicent driven solution.
In leveraging the application’s built-in features and tools, we were able to largely automate the Client’s transactional, and HR data processing. This not only helped streamline their whole incentive compensation management system, but also allowed them to take full advantage of all that the application had to offer. It increased efficiency, cut down on error by eliminating the manual processing of data, and helped ease the stress that the Admins were under at the end of every processing period.
Want to join our Tech Tip distribution? Join our community of SPM users to receive the latest information about SPM technology solutions.
Have a question for one of our SPM experts? We’re here to help! Submit your question and one of our experts will be in touch shortly.