The Spiff Blog

JULY 20, 2023

Most organizations recognize that their sales commission process isn’t perfect. Companies aren’t ignorant of this problem– many are trying to improve their commission process, as evident by the recent surge of businesses hiring sales compensation managers ( source ). Potential: You continuously optimize sales compensation plans.

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The Spiff Blog

APRIL 7, 2022

Gone are the days when commission, bonuses, and incentive pay were accounted for as direct expenses. With all the complexities in ASC 606, your commission expensing process is more critical than ever. Here’s what you can expect: The Four Types of Commission Expensing Solutions: DIY Commission Expensing.

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The Spiff Blog

OCTOBER 6, 2022

One wrong commission payment. This article will show you how the right commission plan execution can retain your employees, reduce customer churn and increase trust between internal teams. . Making adjustments to commission plans as you grow is not only smart, it’s crucial. 1 Your commission plan should be clear and simple.

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The Spiff Blog

FEBRUARY 15, 2022

But if you use Excel for commission operations, you’re actually a programmer. However, unlike a typical software engineer, most people patching together complex formulas in Excel don’t actually realize they’re programmers. That means— first and foremost— equipping your team with the right tools. There’s no way around it.

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The Spiff Blog

AUGUST 11, 2022

Sales commission plans constantly change to reflect shifting business priorities, unstable market conditions, new product releases, and more. With these changes, businesses typically provide reps with something called a change of commission letter– or, sales commission agreement letters. Commission plan. Nail the basics.

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The Spiff Blog

MAY 26, 2022

So, you’ve realized commission spreadsheets are actually evil, and that sales incentive software will vastly improve transparency, efficiency, and your personal sanity. There’s no shortage of sales commission software on the market, and when you factor in the massive operational differences, it’s a recipe for information overload.

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The Spiff Blog

JULY 21, 2022

If you’re reading this, it’s likely because you’ve made a regrettable software purchase or gone through a nightmarish buying process at some point in your career. And, unfortunately, your software buying woes may only get worse in the near future. Take commission software , for example. We’ve all been there.

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Hubspot Sales

APRIL 24, 2019

If your sales organization is struggling to strike a balance between company requirements and the compensation needs of employees, it's likely time to reevaluate your compensation plan and commission structure. Luckily, I've compiled some resources for you to determine the best sales commission structure for your sales team or yourself.

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Hubspot Sales

SEPTEMBER 8, 2020

You’ve decided you need customer relationship management (CRM) software. These are just some of the reasons CRMs have become such an integral part of business success today and why so many companies have invested in finding the right software for their team. Many CRM software providers operate under a freemium model — like HubSpot.

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Xactly

NOVEMBER 1, 2018

Under the new revenue recognition standard , companies must change the way they report revenue in their accounting for sales commissions. On Oct 17, we held a customer roundtable with Xactly Commission Expense Accounting (CEA) customers. The impact of all commissions paid. How do commission expenses get classified?

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Xactly

JUNE 11, 2018

Given the wide range of job responsibilities, CFOs also need the best CFO tools at their disposal. Watch the webinar, "Meet Commission Accounting Requirements Under ASC 606 (IFRS 15)," to see a demo of how Xactly CEA can help with ASC 606 implementation and compliance. With the right CFO tools, changing direction is much easier.

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Pipeliner

APRIL 17, 2024

Thankfully, choosing the right vacation rental software can provide your rental business with a hub for managing many of the most common activities needed to maintain and promote vacation properties. Let’s look at some common vacation rental problems that could be solved through modern management practices and better software.

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The Spiff Blog

MAY 31, 2022

Managing your biggest line item with disjointed commission spreadsheets or clunky legacy software muzzles efficiency, motivation, and ultimately growth. You need a proper commission management software to effectively future-proof your compensation strategy, so your team can run like a well-oiled machine— rain or shine.

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Xactly

SEPTEMBER 26, 2018

Under the new ASC 606 (IFRS 15) standard, sales commissions associated with securing contracts need to be capitalized as an asset and amortized over the period the service is provided. service contracts lasting less than one year), sometimes called practical expenditures, can be expensed as the commission is incurred. Download Guide.

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The Spiff Blog

APRIL 11, 2023

Through research, conversations with women in sales roles, and analysis of commission data , we’re committed to shining a light on this complex and nuanced issue. You may remember, a few weeks ago we unveiled our latest findings when it comes to the pay disparity between men and women in commission-earning roles.

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The Spiff Blog

AUGUST 10, 2023

On the one hand, you’d love to be able to automate the more tedious and time-consuming aspects of commission management. If you’re tasked with managing commission plans , you typically face a steep learning curve, as you must become a master of the nuanced logic used to build and optimize plans. Eliminate the learning curve.

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Hubspot Sales

APRIL 5, 2023

Table of Contents Sales Career and Salary Stats The Buyer’s Journey Lead Generation Stats Sales Software Stats Sales Careers and Salary Stats Practically every business in every industry needs salespeople. Glassdoor predicts that SDRs typically make a base pay of $50,304 a year, with commission and bonuses totaling another $18,000-19,000.

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Nutshell

JANUARY 14, 2020

Software-as-a-service (SaaS) refers to any cloud software product that a company hosts and makes available to customers over the Internet, rather than offering it as a download onto their computers or mobile devices. Essential Software Tools for SaaS Sales. By Cody Slingerland and Ben Goldstein. What Is SaaS Sales?

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The Spiff Blog

NOVEMBER 17, 2023

You want to have access to the most impactful solutions and systems that improve your ability to do your job well— but you also worry about the perception that these powerful tools are more valuable to the company than you are. As an incentive compensation manager, you manage or play a key role in the design of your sales commission plans.

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Sales Hacker Training

NOVEMBER 21, 2022

And then, there are inside sales tools… The human element of sales will never go away — that’s a fact. There are thousands of options when it comes to software for sales that promise to make your life easier as a sales professional. Fortunately, we’ve been tinkering with many of these inside sales tools for quite a while.

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The Spiff Blog

JUNE 29, 2023

A sales compensation manager– or similar roles such as incentive compensation manager or variable compensation manager– is responsible for the design, deployment, and continuous improvement of sales commission plans, along with the reporting and interdepartmental collaboration necessary to effectively manage sales compensation.

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LeadFuze

DECEMBER 1, 2021

Modern sales teams use a lot of tools to get peak results. We want to hear from other organizations as well, because no one company has the same sales operations and there is not a set of tools that works for everyone. We have a sales team of 2 divisions, with each division having its own commission structure. Your Tools.

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Canidium

APRIL 22, 2020

A phrase becomes cliché for an obvious reason, and "The right tool for the job," is no exception. Often the decision to use a less effective tool comes from the convenience and the lack of commitment to the effort of finding, acquiring, and, in the case of Sales Performance Management (SPM) systems, properly configuring the right tool.

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The Spiff Blog

SEPTEMBER 7, 2023

Because we’ve covered this topic extensively in the past, we’ll leave you with a few best practices to leverage when creating or adjusting sales comp plans: Clarity : Make sure your incentive programs and commission structures are clear and easy to understand. Doing so will increase effectiveness and sales productivity.

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The Spiff Blog

AUGUST 22, 2023

For maximum efficiency, the tools that make up your RevOps tech stack— including CRMs, sales enablement tools, analytics and reporting platforms, and so on— must offer the necessary automation and customization capabilities to support agile RevOps strategies. Maybe a tool no longer aligns with current workflows.

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The Spiff Blog

OCTOBER 19, 2023

For example, paying a high commission rate on a product that drives less profit than your other offerings might contradict an efficiency-first strategy. It’s likely that you already differentiate your commission plans by role. AI can automatically gather and deliver data-driven insights that continuously improve your commission plans.

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The Spiff Blog

JUNE 20, 2023

For example, say you’ve just released your monthly commission statements to your sales team. You’ve already taken every measure to calculate their commission in the most efficient, accurate manner possible. Recommended reading : Ensure Your Sales Commission Program is ASC 606 Audit Ready 3.

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The Spiff Blog

JUNE 16, 2022

Not only do you have to build the actual commission plans , but you also have to communicate how it all works in a way that motivates your reps to close more deals. The issue is, actual design is rarely a part of the commission planning process. Sales commission was simple and straightforward. This is a huge missed opportunity.

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LeadFuze

JULY 4, 2023

We’ll explore the importance of balancing reward with profitability, the role commission plays in motivation, and why shifting focus from split percentages to actual income numbers can prove beneficial. What is a typical real estate team commission split? How do you calculate a 70/30 commission split?

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The Spiff Blog

SEPTEMBER 5, 2023

We often hear from commissioned employees how difficult it can be to understand the impact their efforts have on their paycheck. Why the Circle of Influence Matters in Commission Planning The typical sales organization is composed of several different teams and roles, each with their own specific function.

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Hubspot Sales

APRIL 22, 2021

Just about every modern sales team is thinking about commissions. alone spends $800 billion in commissions to salespeople annually and, for many teams, the process around figuring out who earned what in a given period remains highly manual and error-prone. For sales teams, the CRM is the center of every customer interaction.

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Sales and Marketing Management

OCTOBER 27, 2020

The most useful platforms will have powerful integrated lead-generation tools, which gives salespeople instant access to hundreds of millions of leads that meet specific requirements. Every salesperson wants to close as many deals as possible to earn commission. Fear that the length of the sales process will become longer and longer.

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Allbound

SEPTEMBER 12, 2018

As AppDirect co-CEO Daniel Saks points out , “80% of on-premise software vendors operate a channel program to enable other companies to sell their products, while only 20% of SaaS vendors operate similar programs.” Every software company is different, and likewise, every partner program is different. 3 Types of SaaS Partner Programs.

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Nutshell

MAY 11, 2023

To succeed, you need the tools to help you increase efficiency and stay on top of your leads so you can close more deals. One of your best options for managing your client relationships is customer relationship management software, called a CRM. Compare a CRM’s native integrations with the tools you need.

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Apptivo

JUNE 30, 2022

The CRM tools help the realtors with their day to day activities and reduce manual efforts to a larger extent. There are a lot of CRM tools available in the market and the realtors can choose the apt CRM as per their needs and requirements. Five best free Real Estate CRM software. What is CRM in real estate?

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Cincom Smart Selling

NOVEMBER 7, 2016

Any IT tools that can free up a few minutes or a few hours for folks will be greatly appreciated. Not one commission dollar would be paid for all that activity. IT tools can pick up some of the slack. Quote software can be updated in real time in terms of pricing and documentation data about the product.

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Sales and Marketing Management

OCTOBER 21, 2019

It can be calculated a number of ways, including a number of factors like commission, bonuses and quota – and even then, no two organizations figure it out the same way. Transparency into commission data is an important step for sales engagement. How much will this deal net me in commission?

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