Varicent Software was founded in 2003, in response to a growing demand for Variable-Based Payment and Business Performance Management solutions within large organizations. Having spent many years in the Business Intelligence (BI) and Financial Analytics arena, Varicent’s founders recognized a dramatic organizational shift away from conventional spreadsheet dependence in the areas of financial calculations, business analytics, modeling and reporting. Indeed, with the enactment of Sarbanes-Oxley legislation in 2002, and the vociferous demands of investors and financial institutions to properly regulate financial reporting, internal controls and management processes, error-prone and cumbersome spreadsheets could no longer be relied upon. Companies were mandated to replace spreadsheet-based financial models with more reliable technologies and applications.
In response to this trend, Varicent launched its first version of its flagship product to enable organizations to abandon conventional spreadsheets for calculating commissions, bonuses and variable-based pay, and instead use Varicent Software to manage these complex functions.
Today, Varicent Software is a leading provider of Sales Performance Management (SPM) solutions. Varicent’s flagship product, Varicent SPM, enables organizations across multiple industries to effectively design and mange their incentive pay calculations. Varicent SPM is a web-based solution built on Microsoft’s .NET framework, and its patented rules-based calculation engine can manage the most complex compensation plans. With clients ranging in size, transactional volume and industry, Varicent continues to enhance its product suite to meet the changing demands of its customers.
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