Your sales team is the lifeblood of your business. A motivated team can increase your revenue threefold, increasing new acquisitions and repeat business.
Beneath these attractive figures, however, lies a much bigger problem — keeping your team motivated. According to a Salesforce study, two-thirds of salespeople don’t expect to reach their quota in a given year, which could lead to demotivation and burnout.
One surefire way to keep your team on track is to stay on top of payouts through a streamlined incentive compensation management process. By creating a realistic compensation plan and using one of the top sales commission payout software solutions, you can build a true sales powerhouse.
Discover software solutions and enhance your commission management with our deep dive into the best platforms for commission payouts.
You don’t need to spout the famed “ABC” speech from “Glengarry, Glen Ross” to track performance or motivate your team. Sometimes, you just need a supportive and streamlined software that does the heavy lifting for you.
But before you purchase a sales compensation software solution, make sure you know what to look for. Keep these features in mind when you’re looking for a platform to ensure the best results for your company’s unique needs.
Like many pay-related platforms, integrations can streamline and automate your workload. Ideally, the top sales commission payout software provides an end-to-end solution that syncs with any SaaS, CRM, ERP, payroll, accounting, RevOps (revenue operations) and other sales software you use. Through these integrations, you create an all-in-one solution, eliminate the time-consuming process of manual data entry or migrating data to Excel spreadsheets, all while you optimize workflows simultaneously.
Depending on your company, you may have different sales compensation plans for various sales reps to align with company goals or meet a sales representative’s abilities and experience. A top-notch software solution takes this into account and lets you set individual rules, sales quotas, and commissions for each person and update them as necessary. No more guessing or lack of transparency when your sales team members receive their commission check. You’ll always have accurate commissions that reflect your rules.
Clear reporting is an important part of incentive compensation management (ICM) and tracking and forecasting individual or team performance over time. A high-quality solution includes the functionality of a dashboard that combines commission tracking and real-time visibility. This allows you to make decisions, gauge sales performance, and contemplate the scalability of your current operations via simulations — giving thoughtful answers to every sales rep and stakeholder.
The three features above help you create an adequate payout system, but some compensation management software takes these ideas to the next level. A platform complements its core offerings with ease of use, ensuring that entering commissions is simple for both veteran and onboarding sales reps.
The top sales commission payout software may also have templates for your commission plans, audit trails to ensure governmental compliance, the ability to view upcoming, real-time commission payouts.
The commission process can feel like an arduous task, but partnering with an outstanding software solution should reduce stress and improve time management. Each of these sales commission payout software solutions offers an excellent way to keep your payments on time and your reps excited and motivated.
Hoppier isn’t necessarily a commission payout software, but if you’re searching for a simplified, low-cost solution without all the extras, it certainly deserves consideration. This stripped-down approach to sales commission payouts is trusted by over 1,200 companies and still offers plenty of features, such as integration with some of the top business software and full tracking and transparency of gift card usage.
Based around digital gift cards, Hoppier is the vessel you can use to send compensation to your sales rep or increase engagement with your leads and prospects through incentivization. At its best, you can use it for both; at the bare minimum, it’s another tool to help your sales team get more leads and potential customers in the pipeline. Here’s how it works.
Start by creating a program, such as “Sales Commissions” or “Sales Incentives.” Once you decide on a name, you can add your company colors and logos to reinforce your brand to either your sales rep or potential clients. Next, select the dollar amount for each gift card, a start date, and an expiration date (if necessary).
You can then select from thousands of vendors for control over where the card is spent, or you can leave it completely open-ended — it’s a Visa card, making it as good as cash.
The final step is to upload a CSV file of your reps’ or clients’ email addresses. Add a message, click send, and you’ve either rewarded your sales team or incentivized a client to join a demo or sales call.
Gift card spend tracking is another top feature of Hoppier. Plus — get this — any unused portion of the gift card at expiration goes right back in your account, cutting sunken costs and giving you a small nest egg to boost your next commission or incentivization payouts.
With the ability to bring quotas, territories, incentives, and capacity together, CaptivateIQ is a top sales commission payout software for in-person and virtual sales teams. Using no-code data management, the software is easy to use for novice administrators, offering automated calculations of payouts without the hassle.
If you’re new to sales commissions, CaptivateIQ's Guided Plan Builder and real-time modeling engine make plan-building simple, while still retaining the flexibility needed for more complex commission models.
And with CaptivateIQ’s rep experience feature, sales teams can minimize shadow accounting, gain insight into past, present, and future earnings, and ultimately, increase productivity and results. With an all-in-one approach to sales commissions, Captivate IQ has everything you need in a complete package.
Perhaps the most well-known incentive compensation management software, Salesforce Spiff motivates your sales reps through real-time commission visibility. Each rep receives a customized statement that shows potential earnings, progress against goals, in-app comments, and a commission estimator.
Spiff is also praised for its sheer number of other features. Its new AI Sales Agent feature can help you nurture leads 24/7 and send them to your sales team. In addition, Spiff’s sales data, sales analytics, sales planning, and customer relationship management software are among the top in the business. For sales team, it’s a one-size-fits-all solution.
The only major drawback of Salesforce Spiff is that it doesn’t send payouts directly. You’ll need to use integrations with your payroll or accounting software to send commissions to your reps. Fortunately, you can automate these payouts, but the lack of payment options within the software itself is worth noting.
QuotaPath is a top sales commission payout software simply because of its focus. You won’t find an excessively deep, feature-rich platform here, but then again, you don’t need one.
This software focuses less on the overarching incentive compensation management and narrows in on compensation planning and payouts. With QuotaPath’s AI-powered Plan Builder, you can create and test compensation plans quickly and with total control.
QuotaPath also allows you to automate commissions and payouts. Partnered with Rippling, you can use the QuotaPath dashboard to send payments with ease over whatever timeframes you desire.
Finally, you can integrate nearly 30 different business software programs with QuotaPath, including Google Sheets, Stripe, Salesforce, HubSpot, QuickBooks, and others — saving you time and a headache in the process.
Compensation management is one of the more difficult jobs in the sales world, and Xactly understands exactly that. Through Xactly’s ICM platform, compensation or accounting teams can tailor compensation plans to fit their business and provide visibility that keeps sales reps on task. Moreover, the software automates the most mundane tasks — such as data entry — to give leaders more time for performance analysis and detailed reporting.
Xactly’s numbers don’t lie either. With 99.8% on-time commission payment accuracy, a 90% reduction in overpayments, and a nine-month timeframe for average ROI, Xactly is every bit as valuable to managers and owners as it is to sales reps.
If you want to say goodbye to spreadsheets forever while always calculating the right payments, Qobra is a top sales commission payout software solution. By seamlessly integrating your sales data with Qobra’s analytics and CRM system, you eliminate the need for tedious, repetitive tasks and reduce the chance for errors.
The platform also uses built-in discussion features, allowing sales reps and managers to discuss any issues or discrepancies. It also ensures accurate payouts and eliminates errors by tracking KPIs per plan and per user. When your team is satisfied, use an integrated payroll system to send payments quickly and easily.
To reach your business goals, you need a sales team that’s constantly motivated to pursue new leads and maintain amicable relationships with your current clients. With well-constructed commission structures, sales incentive plans, and complementary sales commission software, you have the right ingredients to keep your team hungry and well-paid.
Ready to 2x your global engagement at your next event, with Ox stress?
Make Hoppier your unfair advantage today, schedule a demo
Ready to 2x your global engagement at your next event, with Ox stress?
Make Hoppier your unfair advantage today, schedule a demo
Ready to 2x your global engagement at your next event, with Ox stress?
Make Hoppier your unfair advantage today, schedule a demo
Ready to 2x your global engagement at your next event, with Ox stress?
Make Hoppier your unfair advantage today, schedule a demo
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