Financial Services Industry
Bank On Exceeding Customer Expectations
Maneuver the growing demands from your customers with confidence as the new expectation for a hybrid service model in retail banking becomes the norm. Varicent Incentive Compensation Management removes friction from your compensation processes and empowers you to lead with data-driven decisions.
Changes and Challenges Are Adding Up
In the banking industry, your customers are more demanding, there is more regulatory scrutiny, and digital transformation has been a slow, difficult journey. In addition, it has never been harder to hire and retain quality talent in the face of the Great Resignation.
Compensation is Overly Complex
The many systems that involve incentive compensation are difficult to change and put pressure on scarce IT resources. The smallest adjustment requires you to make a business case for resources, time, and money.
Technology is Stuck in the Past
Outdated and siloed technology and processes make managing regulatory requirements and ongoing changes difficult, time-consuming, error-prone, and costly.
Decisions Are Based on Gut, Not Insights
It is nearly impossible to feel confident in your changes to incentive compensation because too many of your decisions are based on static, tactical reports and rely on gut feel.
for the Financial Services Industry
Varicent enables businesses to continually refine and improve their sales strategies - plan, operate, pay, and strategize - to maximize revenues.
Varicent ICM can help you remove friction from the sales compensation process, improve incentive calculation, adapt your sales strategy to shifting business priorities, and enable your compensation admins. It can uncover new insights to incentivize the exact sales behaviors needed to not just drive-up total yield but outdo previous performance benchmarks.
With Varicent's single platform and transparent calculation engine, you can feel confident your compensation requirements can be met with full transparency, regardless of the size or complexity of your compensation initiatives.
Meet Regulatory Requirements
Varicent enables you to have a completely transparent, auditable, and traceable compensation process. This process can be changed to meet your regulatory needs, without compromising the ability to audit and view the payments.
Drive the Right Behavior
Connect the dots from incentives to advisor behavior, from compensation management to business strategies with Varicent's analytics models. Identify levers to outdo past performance and capitalize on the latest banking trends.
Varicent By The Numbers
80% reduction of time spent on auditing and compliance
90% improvement in payment accuracy
12.5% increase in sales productivity after implementation of SPM
65% reduction time spent on payout process and incentive calculation
Our feature-rich, flexible and scalable suite of solutions enable you to pivot from processing incentive compensation to true Sales Performance Management.
Varicent Incentive Compensation Management (ICM) for Enterprise
Removes friction from the compensation process, accelerates the ability to make plan changes and adopt new strategies, and enables new insights to outdo previous performance.
Unlocks your team's productivity and performance with a better comp plan through the science of incentives and the psychology of commissions.
Varicent Territory Quota Planning
Automates the mechanics of sales territory and quota planning. Take back lost time and focus on strategies to maximize revenue.
Varicent Revenue Intelligence
Enhances your sales forecasts to discover opportunities earlier. Unlock a wide breadth of breakthrough revenue insights - from predictive forecasts to opportunity scoring and seller performance.
Helps you find meaningful data patterns in complex sales systems so you can drive better business outcomes. Augmented Intelligence transforms your data into evidence.
Trusted By Customers
We continue to enhance our client experience, along with our passion for providing innovative technology across Sales Performance Management programs. Meet our customers who have improved their sales strategies and commission management by using Varicent.
"Despite having constrained resources, Varicent has allowed us to communicate with different teams and business partners effectively. It has also allowed us to meet the demands of regulations with the flexibility to change our reporting styles based on new requirements.”
Incentive Compensation and Governance Manager
From Theory to Practice - Broadridge Financial Solutions Aligns Experience with Forrester Research
Learn how Broadridge Financial Solutions addresses common sales performance management (SPM) challenges, including plan rollout, processing time, accuracy of payments, and auditing and compliance.
Total Rewards in the Next 18 Months: Insights from Business Practice
Join Xavier Baeten, Head of Reward Center, Vierick Business School, interpret the results of a recent survey on Total Rewards and discover eight questions every sales leader needs to ask themselves with an honest review of their organization.
Waddell & Reed Discover a Partnership for Growth with Varicent
Learn how Gretchen Cox, Director, Incentive Compensation Operations, built a partnership of trust with Varicent after struggling with other failed vendor relationships, manual processes, and leaving spreadsheets and legacy systems behind.
Ready to get started?
Get a custom product demo from one of our SPM experts today. See how Varicent Incentive Compensation Management meets your business needs for today and tomorrow. Connect with us!