The Spiff Blog

NOVEMBER 10, 2022

The sales commission process plays an important role in motivating sales teams and therefore drives top line revenue growth— arguably the most important metric organizations track. There are many benefits to implementing sales commission software, but we’re going to focus on the four most important.

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The Spiff Blog

JANUARY 26, 2023

If your sales team is struggling to hit their numbers and you’ve already considered training, enablement, technology, and other more obvious avenues, it might be time to take a look at your sales commission structure. A good sales compensation strategy has the power to drastically improve sales performance. We’re so glad you asked!

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Commission Compensation Incentives Incentive 75

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

AUGUST 4, 2022

The quick fixes and long term solutions you need to fix your broken sales compensation processes. If you’ve worked in RevOps or Finance for any amount of time, you already know traditional sales compensation processes are broken. Most companies get sales compensation wrong. Let’s jump into it! Final Thoughts. About Spiff.

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The Spiff Blog

OCTOBER 13, 2022

Automating sales compensation is a big deal. Whether you’re transitioning from a manual commission management process or a spreadsheet-based legacy system, there’s a lot of time and resources on the line. When should your organization pull the trigger and commit to commission automation ?

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The Spiff Blog

NOVEMBER 22, 2022

If you’re currently creating sales comp plans for the new year and are struggling to come up with compensation plans for your sales engineers, you’re not alone. In fact, compensation planning is something many leaders struggle with. Creating a Compensation Plan for Sales Engineers.

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The Spiff Blog

JANUARY 19, 2023

Whenever I’m talking about variable compensation I usually end up saying some version of the same cheesy line. It goes, “The only consistent aspect of sales commission is change.” Compensation strategy is no different from any other business strategy, which means things change. Follow up consistently.

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Canidium

SEPTEMBER 21, 2023

Most solution comparison articles compare software from two different companies. In this case, we're comparing two SAP solutions: SuccessFactors Compensation Module and SAP SuccessFactors Incentive Management (previously SAP Commissions).

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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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Sales Hacker

AUGUST 26, 2021

That’s how my friend Stacey describes the way sales compensation plans have changed over the last 15 years of her SaaS career. Why do sales compensation plans have to be so complex? Sales compensation was set up to ensure that reps are suitably rewarded for their performance. get paid commissions at 8%. Ramp policy.

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Commission Compensation Incentives Incentive 95

Hubspot Sales

DECEMBER 29, 2021

That's why several companies leverage something known as incentive compensation : the practice of offering financial rewards for professional excellence. Incentive compensation plans often provide an effective avenue for sales leadership to motivate their teams and encourage overperformance. Incentive Compensation Examples.

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Hubspot Sales

APRIL 24, 2019

Compensation is an important factor in attracting and retaining employees, especially in sales. Imagine if almost half of your sales team left the company because of a poorly designed compensation plan. 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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LeadFuze

JULY 4, 2023

Understanding how to compensate structure real estate teams is a critical aspect of running a successful agency. A successful real estate agency requires a well-conceived compensation structure to attract the top talent and motivate them to do their best, resulting in increased profitability. How do splits work on a real estate team?

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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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Janek Performance Group

SEPTEMBER 20, 2021

A sales organization’s compensation plan can be an important driver of success. Recently, Janek Managing Partner Nick Kane joined Tanner Lacey, the Co-Founder and Director of Go-to-Market Strategy at Spiff, a leader of sales compensation software and commission tracker, for an informative webinar.

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Compensation Webinar Metrics Commission Education 62

The Spiff Blog

JANUARY 12, 2022

Compensation strategy is a core factor that plays a role in any business’s ability to be successful. Often, when “bigger” issues arise, we tuck our compensation strategy away in the back of our minds and promise to revisit the topic when we have the time. Applying this Model to Your Sales Compensation Strategy. We can help.

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SBI Growth

OCTOBER 20, 2012

HR leaders, get ready for the 2013 Sales Kickoff by fixing the flaws in your compensation plan today. Read this post to reframe what may be disguised as a compensation problem. And get your hands on a Competency Grader for compensation assesement providers as part of SBI's "Make The Number 2013.". Compensation Study ?

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Compensation Incentives Incentive Lead Rank 267

Canidium

MAY 28, 2020

Insurance carriers are always trying to reduce costs and streamline their business processes, from on-boarding producers through compensation. However, they usually have silos of legacy business applications with multiple databases that increase operating costs.

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Canidium

APRIL 20, 2020

Incentive compensation is an effective way that can result in such performance. Sales leaders are constantly trying to improve sales performance of their teams.

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Xactly

NOVEMBER 15, 2018

When it comes to sales compensation planning, you can never start prepping too early, right? Sales managers and their reporting reps will have responsibilities in their roles, which means your compensation plans should be tailored to different roles. Constructing Commissions in a Sales Manager Compensation Plan.

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Sales Hacker

SEPTEMBER 27, 2022

He’s an expert in the sales world, particularly in revenue operations and incentive compensation. Building a compensation structure that works for both salespeople and the company. Building a compensation structure that works for both salespeople and the company. Best practices for designing compensation structure [07:00].

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Sales and Marketing Management

MAY 31, 2020

Sales teams are a particularly unique case as their compensation is likely to be highly leveraged and more sensitive to changes in the marketplace. What happens to the sales force and their commission-based structure? Is top sales talent at risk of leaving if they can’t earn commissions? .

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The Spiff Blog

MAY 31, 2022

After all, does your organization really need to sink even more money into sales compensation ? Managing your biggest line item with disjointed commission spreadsheets or clunky legacy software muzzles efficiency, motivation, and ultimately growth. Step #2: Discuss the benefits of commission software.

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Xactly

NOVEMBER 20, 2018

The commission accounting standard has been in effect for public companies since December 2017. Subtopic 340-40, known as “the incremental costs of obtaining a contract,” has a huge effect on how companies’ commission accounting. Step 1: Evaluate the Compensation Strategy. Download Guide. Download Guide.

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Sales and Marketing Management

AUGUST 28, 2019

So how can organizations, particularly sales teams whose salaries are usually based on a commission structure, successfully recruit and retain top Gen Z talent to help carry their business forward? Personalize Compensation Packages. Creating Transparency for Commission-Based Pay Models.

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Sales and Marketing Management

MARCH 27, 2019

These average-performing reps spend nearly five weeks a year, or 10 percent of their time, checking their commission reports, trying to understand them. Transparency in sales reporting is often undervalued, even though a lack of it may lead to less engagement among employees, as well as confusion in their pay and commission structure.

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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

JULY 5, 2018

When it comes to sales compensation planning, you can never start prepping too early, right? Sales managers and their reporting reps will have responsibilities unique to their roles, which means your compensation plans should be tailored to different roles. Constructing the Commission Plan for Sales Managers: Pay Mix and Upside.

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Compensation Sales Management Examples Commission 69

Xactly

JANUARY 2, 2019

The sales planning process can become quite complex, especially when it comes to designing sales compensation plans. Ultimately, the new compensation and incentive plans must successfully motivate the right sales behaviors to achieve goals, all while driving growth. Meet The Expert – Robert Walters, Commissions System Manager.

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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. ERP Systems.

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The Spiff Blog

SEPTEMBER 7, 2023

These pillars include organizational alignment, robust reporting, ongoing professional development, incentive compensation, and sales enablement. Creating the perfect sales compensation plan isn’t easy. Competitiveness : Your commission rates need to be competitive to attract and retain top talent.

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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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Xactly

OCTOBER 18, 2018

Few leading indicators are more predictive of a company’s future sales performance than its incentive compensation plans. As former Reliance Electric CEO Chuck Ames once said according to General Electric CEO Jack Welch, “Show me a company’s various compensation plans, and I’ll show you how its employees behave.”. View Webinar.

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Incentives Incentive Compensation Webinar Metrics 78

Xactly

APRIL 2, 2018

Whether a company is trying to grow or has reached the Enterprise level, the right sales commission structure can be the difference between hitting your goals or falling flat. Plus, commissions work well for SMBs who don’t have the resources to pay up-front base salaries. How to Compensate Your Sales Staff as a Small Business.

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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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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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Xactly

APRIL 9, 2018

Building a successful sales compensation plan carries an incredible amount of responsibility for compensation planning teams. Finding the right mixture of compensation requirements is no easy feat, but luckily, it doesn’t have to be a time-consuming task. Sales Compensation Manager. Time in sales compensation: 20+ years.

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