What Is a Sales Commission Software? Why Is It Important to B2B Sales Teams?
There are plenty of ways to motivate sales teams, using a sales commission software will do nothing, but boost the process further. Motivated teams are capable of driving more revenue, which is the most crucial metric organizations track.
Do you think sales commissions can be calculated manually? Better not to! The simple reason is the room left for human errors, distrust, biases, unhappy sales reps and the list is long. If you are still considering manual calculation and are unhappy with the results, it is the right time to introduce sales commission software to your salestech stack.
Whether you are a B2B or B2C organization, automating sales processes including sales commisions is going to simplify the most complex part of your roles. Let us see some notable benefits of incorporating a sales commission software in your B2B sales tech eco-system.
- With a reliable sales commission software, you can see improved transparency in the sales process. The software ensures real-time access to commission statements along with other data for reps.
- Where manual calculations leave room for errors, the automated software removes such errors to make the system more efficient. This in turn, increases the sales productivity for sales and finance teams.
- These tools enhance accuracy throughout the commission process. The accuracy in commission calculation keeps the sales reps happy and reduces HR turnover. It leaves no room for friction between sales and finance or HR departments.
- Last, a sales commission software helps provide better access to critical insights and data. All the data collected offers another opportunity to optimize the sales data and sales costs in the future.
If you are encouraged to incorporate a sales commission software to your salestech arsenal, you should start reading about some of the top global sales commission tools:
A leading sales compensation software – Spiff automates commission calculations and inspires teams to drive top-line growth. It features a combination of an intuitive UI, real-time visibility along with seamless integrations into current systems. Spiff is the first choice of a number of high-growth businesses. The platform offers liberty to sales and finance operations teams to self-manage complex incentive compensation plans. It will add more transparency to your SalesTech-MarTech ecosystem.
Formerly known as PerformanceCentre, Performio is a perfect tool for calculating commissions and incentives for your sales teams. The tools accurately calculates, analyses, and communicates commission pay and performance. Performio further offers participants with a secure location to access their respective incentive plans, targets and track their progress. The platform is reliable, accurate and fast. It is best for companies with a high-performance sales culture.
3. Varicent ICM
Varicent ICM automatically calculates incentives and compensations for your sales reps accurately. With Varicent ICM, companies can save 75% of their time that they otherwise spent working on commission calculations. Varicent offers customizable features like Workflow Manager and Scheduler, which uses real-time data and analytics to improve your accuracy by 90 percent.
4. Core Commission
Based out of SW Washington, Core Commission proudly caters to the rapidly growing financial software company with its robust, intuitive and affordable sales commission solutions. Core Commission works for any size of business and offers robust solutions for calculating and managing complex commissions. It also comes with a tracking software recognized in the industry for its ability to automate the most complex commission management rules. The main features include affiliate management, compliance management, incentive programs and many more.
5. Q Commission
Avoid manual errors and calculate commission in professional and accurate manner with Qcommission. The platform offers a robust tool to motivate sales team with the help of scalable and flexible features and promotes better customer relationship management. Some more features of the platform includes easy integration with Salesforce, compliance with commission regulations, pay commissions on sales, gross profits and units calculations, and so on.
6. Captivate IQ
It is one of the highest-rated sales commission software in the market. Offering services to some of the global brands like Intercom, Udemy, The Atlantic and so on, Captivate IQ is a sales commission software meant to bring teams together. The sales teams can run commissions accurately and on time to empower sales teams. It is a modern tool for advanced sales teams.
7. Sales Cookie
Resolve the errors with complex sales commission with Sales Cookie. With Sales Cookie, you can automate your sales commissions, get rid of the administration headaches and motivate your reps. It offers easy set-up, fast calculations of complex commissions, creates powerful reports and offers easy integration.
A sales commission software is a good investment, which will track exact sales commissions and increase overall business productivity and growth.