Sales compensation software is designed to help businesses manage and automate the process of paying commissions to their sales staff. This type of software can help businesses keep track of sales metrics, performance goals, and commission payments in one central system. Additionally, sales compensation software can help businesses save time and money by automating commission calculations and payments.
Sales compensation software is a critical tool for any business that relies on sales staff to generate revenue. By using commission-based software, companies can improve their ability to attract, motivate, and retain top sales talent. Additionally, this can help businesses optimize their sales strategies and improve their bottom line. By automating the process of commission payments, businesses can save time and money while ensuring that their sales staff are adequately compensated for their efforts.
Top 6 Best Sales Compensation Software
- Performio – Best for enterprises
- Blitz – Best for small to mid-sized businesses
- Core Commissions – Best for complicated rules
- Xactly Incent – Best for custom experience
- QCommission – Best for simplicity
- Spiff – Best for identifying motivation strategies
1. Performio – Best for enterprises
PRICING: Contact to request pricing
Performio is a cloud-based performance management software that enables companies to manage their employee performance in an efficient and effective manner. The software includes features such as goal setting, performance reviews, feedback, and more. Performio also offers a mobile app so that employees can access the software from anywhere.
KEY FEATURES:
- Calculation library
- Participant sync
- Automated alters
- Salesforce integration
- Multi-currency available
REASONS TO BUY:
- Complex commissions made easy, easily calculate sales commissions
- Each sales rep can have their own platform, see what they’re getting paid, and why
- Enterprise level compensation management software
- No coding, prebuilt compensation plans library
REASONS TO AVOID:
- Enterprise-grade commission software. May be overkill for small business
- Limited software when working from phone
- Needs to be updated regularly by admin
2. Blitz – Best for small to mid-sized businesses
PRICING: Contact to request pricing
Blitz is a powerful sales compensation and commission tracking software that helps sales teams increase their productivity and close more deals. With Blitz, you can easily see how much commission you’ve earned, track performance against quota, and get real-time insights into your sales pipeline. Plus, Blitz makes it easy to manage commissions for multiple products and services, so you can always be sure that you’re getting the most accurate information possible. Whether you’re a small business or a large enterprise, Blitz is the perfect solution for sales teams of all sizes.
KEY FEATURES:
- Analytics & reporting
- Real-time calculations
- Incentive forecast
- Dynamic dashboards
- PDF Export
- Integrations with Salesforce, Hubspot, and more
REASONS TO BUY:
- Instant calculations
- Complete automation
- App available on iOS and Android
REASONS TO AVOID:
- No transparent pricing, must contact to request a demo
3. Core Commissions – Best for complicated rules
PRICING: Free trial available. From $12/per payee/month to $25/ per payee/month. Must contact for highest tier.
Core Commissions is a sales commission tracking software that helps you build complex rules and commission plans. It makes it easy to keep track of your sales commissions, so you can focus on closing deals and making money. With Core Commissions, you can: easily create and manage complex commission rules, automatically calculate and pay commissions, track sales and commissions in real-time, and analyze sales and commission data to improve performance.
KEY FEATURES:
- Affiliate management
- Compliance management
- Commission calculations, monitoring, and scheduling
- Drag and drop analytics
- Integration with CRM
REASONS TO BUY:
- Build complex rules in minutes
- Handle complicated commission plans including splits, overrides, draws, bonuses, etc.
- Automate sales commission payments
REASONS TO AVOID:
- Basic plan only has 5 rules available, with a $0.50 price per additional rule. Unlimited rules available in higher tiers.
4. Xactly Incent – Best for custom experience
PRICING: Contact to request pricing
Xactly Incent is a cloud-based compensation management software solution that enables businesses to design, manage, and optimize their sales incentive programs. The software provides users with the tools they need to create sales plans that accurately reflect their organizational objectives, while also ensuring that those plans are aligned with company budget and compliance constraints. With Xactly Incent, businesses can create both individual and team-based sales incentive programs, and track employee performance against those programs in real-time. The software also includes several features designed to help businesses manage their sales compensation programs more effectively, such as compensation plan configurations, high level reporting, and powerful integrations. Overall, Xactly Incent is a powerful and flexible solution that can help businesses of all sizes improve their sales compensation programs.
KEY FEATURES:
- Compensation plan configuration
- Document and workflow management
- Reporting and dashboards
- Powerful integrations with CRM, ERP, HCM and more
REASONS TO BUY:
- Constantly growing and making improvements
- Extremely intuitive
- Ranked best in customer experience, TCO/ROI, and Validation by Ventana Research 2022
REASONS TO AVOID:
- Insufficient dispute platform
- No searching functions
- No transparent pricing
5. QCommission – Best for simplicity
PRICING: Contact to request pricing
QCommission allows businesses to automatically calculate and pay out commissions to their salespeople, based on preset commission rules. This can be done either manually or automatically, and businesses can choose to pay out commissions on a regular basis or as sales are made. QCommission also provides businesses with the ability to track sales data and performance, so they can see which employees are performing well and which ones need improvement.
KEY FEATURES:
- Integrations with Salesforce and QuickBooks
- Sales managers can view commission statements online using intranet
- Comply with Sarbanes-Oxley regulations
- Commissions can be specific to Product, Customer, Payee and others
REASONS TO BUY:
- Pay commissions accurately and on time
- Communicate commissions clearly
- Track sales, commissions, and bonuses
- Reduce salespeople complaints and turnover
REASONS TO AVOID:
- No transparent pricing
- Not web-based
6. Spiff – Best for identifying motivation strategies
PRICING: Contact to request pricing
Spiff is a cloud-based compensation management system that allows companies of all sizes to automate commission calculation procedures. It also comes with personalized dashboards that allow salespeople to modify closed transactions based on sales goals. Users can also use the motivate module to communicate with their coworkers about key performance indicators, goals met, and more. By automating commission calculations, Spiff makes it easy for businesses to ensure that their employees are fairly compensated for their work. This ultimately leads to happier employees and a more productive workforce.
KEY FEATURES:
- Plan recommendations
- Traceability
- Team management
- Data export
- Automation
- Scalability
REASONS TO BUY:
- Modern look and feel. Well-designed platform
- Can process millions of statements a day and updates in real-time, all automatically
REASONS TO AVOID:
- Needs more visualization tools. Lack of reports and graphs
- On-boarding can be difficult
- No transparent pricing
References:
https://www.performio.co/
https://www.blitzrocks.com/
Home
https://www.xactlycorp.com/products/incentive-compensation-management-software
https://www.qcommission.com/
Why Spiff