Creating and Updating Incentive Plans

 

Varicent allows for easy updating of existing incentive plans as well as creating new plans based on existing compensation components because of its configuration table design approach. Compensation components are designed independently of plans and these components can be added or removed from plans based on that plan’s configuration in the tables.

For example, a system could contain four compensation components (Volume1, Volume2, Revenue1, Revenue2) and then the incentive plans can be configured in the tables to include whichever components are necessary.

For example, PlanA could include Volume1 and Revenue1, while PlanB can include Volume2 and Revenue2, Varicent then allows for easy adding/removing incentive components by plan or the creation of a new plan, PlanC, which could include Volume1 and Revenue2.

These types of updates do not require any changes to calculation logic, but only updating of configuration tables.

 

Read more SPM Tech Tips: Varicent >>

 

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