Top 8 Compensation Software Solutions to Ease Accounting in Sales
In the rapidly changing world of sales, managing compensation can be a complex task with potential risk of errors and inefficiencies. Fortunately, nowadays we have plenty of sales compensation software platforms to choose from to automate and streamline the accounting processes, dealing with incentive and commission-based pay structures. Let’s look closely at the top 8 software platforms that can simplify these processes and eliminate your accounting headaches.
Xactly is a cloud-based sales performance management solution that specializes in incentive compensation. It provides its customers with a complex of tools to automate commission calculations and deliver real-time reporting. It also offers useful insights through analytics. Xactly’s platform is designed to handle complex compensation structures and improve sales to achieve business goals.
Varicent provides sales and revenue performance solutions. Apart from compensation calculation, this platform provides territory and quota planning as well as advanced analyticsreports. With Varicent you can customize your compensation programs to fit the specific needs of your company.
QuotaPath is a transparent end-to-end compensation solution for both sales teams and finance departments. Designed with a user-friendly interface for tracking deals, calculating commissions, QuotaPath can also be useful in forecasting earnings. Being affordable and easy to use, this platform is particularly popular among small to medium-sized businesses.
Performio is a platform designed for sales representatives, providing them with detailed calculation of their sales and revenues. With such strong instruments as commission calculations, leaderboards and dispute management, Performio aims to increase transparency and motivate sales teams to perform their best. At the same time, it helps to reduce the administrative burden on finance departments.
CaptivateIQ is a modern sales commission software, with a user-friendly interface and ability to customize workflows. The platform allows users to design, manage, and automate commission plans without any specialized technical knowledge, and keep track on compensation status.
Spiff is one more complex solution, which allows to automate real-time sales compensations and make them absolutely transparent for the sales representatives. One big plus is that this platform can be integrated with your existing CRM and ERP systems, simplifying the accounting and revenue calculating processes.
Commissionly is especially popular among small and midsize businesses, focusing on affordability and possibility to integrate with the customers’ accounting software. It includes services like atumated commission tracking and customizing commission plans to meet the needs of various sales strategies.
SAP Commissions, formerly known as CallidusCloud, offers a strong solution for sales performance management for larger companies. Its powerful engine can handle large volumes of data and complex compensation rules. The platform can also be integrated with the majority of accounting software, offering a holistic approach to sales management.
Managing sales commissions can be simplified and efficiently organized with the help of a proper software platform. Choosing the right one depends on your company’s size and needs.The right platform will not only automate the calculation process but also provide valuable insights into sales performance, helping you to optimize your sales strategy.