Today’s Sales Compensation Softwares are incredibly versatile, and because of strong competition, have remained a relatively low-cost investment for most.
Currently, with dozens of options available for Sales Compensation Software in the market – finding the right Sales Compensation Software of November 2022 can be tricky.
So we spent dozens of hours researching and testing everyone we could get my hands on.
Based on our experience with the apps, here are 10 Best Sales Compensation Software. Click on any app to learn more about why we chose it, or keep reading for more context on Sales Compensation Software.
What is Sales Compensation Software?
Based on numerous customizable rules, such as employee job tenure or sale type, sales compensation software automates the accounting and administration of commissions and incentive plans. The software also gives salesmen a detailed view of past profitability and revenue projections. This allows salespeople to plan for multiple compensation scenarios by providing compensation projections based on anticipated closed agreements. This can help salesmen realize their genuine earning potential and be motivated. Sales compensation software is used by sales accounting and administration teams. Beca use sales compensation systems differ from those of the rest of the company, these tools help to ensure that accounting is less time consuming and mistake prone. Typically, this software is included as part of a larger compensation software architecture. This could include software for payroll accounting or billing. Many sales compensation tools interact with other sales software, such as sales performance management, sales analytics, or sales gamification. To be considered for the Sales Compensation category, a product must be able to customize and manage sales-based compensation programs. Produce sales performance analysis reports. Integrate with sales management and accounting software.
10 Best Sales Compensation Software
Spiff is the leading commission calculation software that takes the manual labor and complexity of your current commission processes and completely automates it. With Spiff, your team won’t have to spend hours modeling, updating, and managing complex spreadsheets or old enterprise software to pay commissions. Deployed at some of the fastest growing, long-established, and innovative companies, we’ve turned revenue management from a behemoth kept at bay into a motivation engine that maximizes sales team engagement and accelerates their growth. By maximizing visibility into the commission plans with real-time transparency, we’ve turned sales data into actionable insights. Accessible from any Spiff dashboard, the Real-Time Insights feature allows you to visualize trends across plans, teams, and your entire organization. Spiff boasts one of the industry’s fastest purchase to performance times. It doesn’t require special connections to be coded as it connects directly to your CRM, ERP, Payment Processors to reduce work load and increase accuracy every time someone checks their dashboard. Boasting Android and iOS apps anyone and anywhere on your team can watch your company grow from 10 to 10,000 sales reps with the new world of automated commission calculation.
CaptivateIQ is modernizing how world-class organizations manage and run their incentive programs. Our flexible, no-code SaaS platform empowers businesses to customize and automate any compensation plan across any region, currency, or team size. We are proud to partner with leading companies such as Intercom, Hopin, Reddit, and Gong to save them hundreds of hours each quarter automating their commissions process. Teams deserve to get paid on time and accurately without the back and forth of your reps questioning your calculations. Leadership should be able to easily see which teams and plans are working and how to course-correct. Commission admins can finally focus on other business objectives without spending weeks processing commissions. See how we can help your team turn its compensation planning from an administrative headache to a strategic lever that aligns your business goals to individual performance. We’re CaptivateIQ. .
Named a Leader in the Gartner Magic Quadrant for Sales Performance Management seven times in a row, Varicent is the industry-leading Sales Performance Management (SPM) solution in the market, enabling organizations worldwide to Plan, Operate, and Pay effectively to streamline sales and drive growth. Our Incentive Compensation Management (ICM) solution automates the entire compensation process including data collection, compensation calculation, and commission statement distribution to reduce costs and improve sales performance. Get the flexibility, scalability, and usability you need to manage complex compensation your way to ensure your sellers are paid accurately—and on time. Plus, with the addition of our augmented intelligence solution, Symon.AI, you can spot trends, find meaningful patterns, and identify outliers in seller performance, seller churn, customer attrition and more to Plan, Operate, and Pay even smarter than before. .
Of course, there are now many other sales and marketing software packages our customers can choose from. So why do they continue to buy ZS software? It۪s because our software has been built by sales and marketing experts for sales and marketing professionals. ZS software encompasses the firm۪s deep expertise in sales and marketing, unique knowledge we۪ve accumulated over nearly three decades. Based on industry best practices, our applications help clients markedly improve critical sales and marketing operations. .
Commissionly is the first cloud-based sales commission and sales compensation management web app that is 100% focused on small to medium business. Our uncomplicated data import tools, wizard-based target and compensation plan and commission setting tools mean you can get up and running in a matter of minutes. Our feature rich product serves all your commission needs, no matter how complicated. We have the ability for you to create revenue or product based commissions, flat or tiered commissions, recurring commissions, split commissions, step up and step down commissions and even matrix commissions. We also customise to your needs should you have a unique compensation plan. You and your payees can access their information through our web dashboard from anywhere, and you have easy to produce reports to quickly generate commission payout amounts. Sign up today! .
SimplyComp is an out-of-the box, scalable, incentive compensation management solution for organizations of all sizes. The first DIY ICM solution of its kind, SimplyComp provides built in, best in class comp plans to standardize manual, spreadsheet based incentive compensation programs. Minimal implementation time coupled with a familiar look and feel helps deliver increased accuracy and speed of commission payouts. SimplyComp is part of Xactly’s product suite, with an overall focus on planning, execution and optimization of sales performance management. .
Many companies have been on an automation binge over the past decade, but when it comes to sales commissions, most are still stuck in the past. EqualTo is the sales commission operating system for high-growth sales teams. We are the missing piece of infrastructure needed to automate the commission process and maximize the ROI on sales commission. EqualTo acts as the single source of truth for commissions, and seamlessly connects to many pieces of core infrastructure such as CRM, ERP, HR, Payroll and accounting systems. Our mission is to transform the painful sales commission process into a strategic asset that drives growth. .
Xactly Corporation is is a leading provider of enterprise-class, cloud-based, incentive compensation solutions for employee and sales performance management. The company’s flagship product, Xactly Incent™, gives enterprise companies robust features and capabilities to successfully design, implement, and manage their compensation programs. With powerful functionality and an extensive module suite, Xactly Incent lets organizations increase ROI with optimized plans, improved efficiencies, and greater accuracy. Xactly Incent’s intelligent automation lets organizations apply best practices to incentive compensation plans, while speeding routine processes to save time, reduce errors, and lower shadow accounting. With a powerful calculations engine, Xactly Incent manages the most complex formulas with flexibility and ease. Xactly Incent increases system efficiencies with integration of compensation data with existing ERP, CRM, or HCM solutions. Xactly Incent provides fully native Android and iOS support, giving reps instant access into their commission results from any mobile device. Managers can easily view individual and team performance quota – anytime, anywhere. .
Obero SPM helps organizations streamline their Sales Planning, Execution and Optimization processes by providing the required tools to effectively manage sales performance. Our comprehensive functionality provides organizations with a solution that supports the end to end sales performance life cycle; automating processes for the Offices of Sales, HR and Finance. Functionalities include: – Sales and Revenue Management – Territory and Quota Management – Workforce Management – Incentive Compensation Management – Profitability Management Key Benefits – Increased sales effectiveness by aligning incentive compensation design with overall sales strategy. – Decreased administrative and over-payment costs by automating the end to end process. – Increased sales productivity by reducing unproductive “shadow accounting” time through enhanced transparency. .
QCommission is a powerful, flexible sales commission software. It calculates your sales people’s compensation accurately and reduces errors related to spreadsheets and manual methods. It allows you to calculate commissions as soon as the commission period is over and saves a lot of time. It can communicate calculated commissions in a detailed and clear manner. QCommission allows the compensation administrator to establish payees, products, customers, plans, incentives, quotas, payment frequency, etc in the system. It allows the establishment of crediting and calculation rules for various incentives. It helps to enter or import performance transaction into the system and calculate incentives as frequently as necessary. Performance transactions can be processed, credited and calculated as frequently as necessary, even multiple times in a day. Adjustments to the transactions can be made and processed in the system. Complete and comprehensive reporting ability allows the user to report on all the calculations in a very detailed form. QCommission is compliant with the requirements of GDPR, SOC, and able to demonstrate compliance. .
What is the Best Sales Compensation Software?
Here are our top picks for the Best Sales Compensation Software to try this year.
How to Choose Best Sales Compensation Software?
Choosing a sales compensation software is an important part of the sales process. While many systems have multiple components, most don’t communicate with each other. This can lead to errors in commission calculations and long hours of dispute resolution. However, the industry is seeing a renaissance, with new entrants entering the market and introducing better processes and functionality. If you’re looking for a new solution, you need to find one that can meet your company’s needs and budget. The following is a Buyer’s Guide to Sales Compensation Software.
Spiff: With a sleek modern design, Spiff can make complex incentive compensation plans easy to manage. It’s flexible and offers real-time dashboards, with easy data import and export. It also offers seamless integration with existing systems, which can be helpful for companies with complex incentive compensation plans. Varicent: This sales performance management software helps track and analyze sales processes. This powerful solution is used by hundreds of companies to improve bottom-line efficiencies and achieve top-line results.
Spiff: With customizable dashboards and job description capabilities, this sales compensation software offers flexible pricing options and a fast purchase to performance time. It is compatible with ERP and CRM, and connects to Payment Processors without any additional integrations. While Spiff can handle complex compensation plans, the learning curve can be steep. Additionally, reporting capability can be limited. Users have also noted that Spiff’s functionality is limited compared to CaptivateIQ.
Oracle SPM: Spiff is a flexible cloud-based sales compensation software. It is compatible with multiple currencies and supports a wide range of custom configurations. It also offers customizable pricing and supports multiple languages. Aside from its customizable pricing, Spiff also offers a mobile app for iOS and Android devices, making it an excellent choice for teams with up to ten or more sales reps. For organizations that want to be in SAP’s ecosystem, Oracle SPM may be a better choice.
Xactly is a popular sales compensation software that offers 100 percent transparency. It lets your sales team manage commissions daily and provides real-time reporting. Xactly excels in commission expense forecasting, providing a user-friendly dashboard and a variety of forecasting models. In addition to these features, it offers great flexibility and is also compatible with existing CRM and ERP. Its extensive support options make it a viable choice for many businesses.
Xactly is a popular sales compensation software for small-to-medium-sized companies. Its user-friendly platform enables managers to manage and customize commission plans. Its graphical dashboard makes it easy to manage and interpret data. It also provides several types of reports and dashboards. Moreover, Xactly’s flexibility makes it an excellent choice for growing businesses. The cost of this software depends on its features.
There are thousands of sales compensation software titles available on the market. You should choose the one that fits your needs. Choosing the right one is essential for your business. It should also be flexible enough to adapt to the changes that occur in the sales department. If you’re looking for a system that will keep you up-to-date with the latest trends in the industry, consider Xactly. The product has a comprehensive support team dedicated to helping you with any questions you have about the software.
Whether you’re looking for a software that automates commission calculations or an application to help you manage all sales compensation plans, the right software will give your employees the information they need to be successful in their roles. You can choose a solution that meets your needs and budget. With these tools, your employees can be motivated and stay focused on their work, and your managers will be happier. If you’re looking for a program that automates sales compensation, you’ve come to the right place.
The best software will allow you to plan, design, and track incentive payouts. It should also allow you to create customized incentive plans for your employees. You should consider all of these factors in your decision. Once you’ve found a suitable solution, you can then focus on your business goals. There are a number of different types of sales compensation software available for businesses. You should look for a software that will be flexible and offer the features and benefits you need.
Sales compensation software is a system that tracks sales performance, provides performance reports, and helps companies set sales goals and track compensation. The software is designed to help companies measure sales performance and help them set sales goals and track compensation.
There are many great options for sales compensation software, but the best option is to find a free option. There are a few free options that are out there, but they are limited in features. However, they are a great option for those who are looking for a free option.
Sales compensation software is easy to learn. It’s designed to be user-friendly so that you can be up and running quickly. Once you get the hang of it, you’ll be able to manage your sales team in just a few clicks.
Sales compensation software is a valuable resource for any company that has a sales team. Sales compensation software can help a company to keep track of the commissions and incentives that they are paying to their sales team.
Sales compensation software can help you to create a compensation plan for your company. There are many types of sales compensation software that can help you to create a plan that is best for your company.Sales compensation software can also be used to create a plan that is best for your company.
In order to use sales compensation software effectively, you must be sure you are using the right software for your company. There are many different types of software that can be used to track and manage sales compensation, so you will need to find the best software for your specific needs.
I know you want to use Sales Compensation Software, thus we made this list of best Sales Compensation Software. We also wrote about how to learn Sales Compensation Software and how to install Sales Compensation Software. Recently we wrote how to uninstall Sales Compensation Software for newbie users. Don’t forgot to check latest Sales Compensation statistics of 2022.
Choosing the best Sales Compensation Software is not a difficult task when you have all the details and requirements. Most of the above-mentioned Sales Compensation Software have impressive and user-friendly features.
Now, it is up to you which software you’d pick up that meets your requirements.
Consider the effectiveness and efficiency of each Sales Compensation Software, including the features and capabilities. You must also evaluate your objectives, required functions, and budget before choosing the right Sales Compensation Software of November 2022. See which will give a great deal.
If you still have questions about choosing the best Sales Compensation Software, leave a comment below. I’d love to assist you.