The Spiff Blog

MARCH 21, 2023

Why share this story at the beginning of an article about using Salesforce to calculate sales commission? The invention of spreadsheets was a huge step toward commission automation. A few years ago, the current state of the art commission solution was to use Salesforce + Excel. Salesforce was the next. True, I’m biased. )

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Commission SalesForce Siebel Software 74

Hubspot Sales

DECEMBER 29, 2021

Incentives are natural motivators — and sometimes, some "natural motivation" is exactly what your salespeople need to perform to the best of their abilities. That's why several companies leverage something known as incentive compensation : the practice of offering financial rewards for professional excellence. Annual Incentives.

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Incentives Incentive Compensation Commission 103

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. But, how does a sales leader or finance professional go about designing a winning commission structure?

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Commission Compensation Incentives Incentive 75

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

AUGUST 4, 2022

Today we’re here to solve your most pressing sales commission woes. We address the following pain points: Difficulty keeping track of complicated commission plan details. Disjointed, disparate data sources make it impossible to have a full understanding of your comp program. Let’s jump into it! Final Thoughts. About Spiff.

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Commission Compensation Incentives Incentive 69

Xactly

JANUARY 18, 2019

In most sales organizations, the sales commission plan is the best way to do this. Your sales commission plan is a portion of your sales compensation plan. Often, it includes a pay mix , made up of a base salary and variable commission pay. Gather as Much Data as Possible. Identify what elements (e.g.,

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Commission Incentives Incentive Compensation 81

Xactly

JULY 19, 2018

Commissions play a key role in your sales compensation plans, driving sales behaviors and motivating reps to hit their quota. Depending on your sales force structure and size, there are different sales commission structures that can be used in your incentive plan. Draw Against Commission Definition. What is it?

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Commission Hiring Incentives Incentive 83

Canidium

OCTOBER 26, 2023

Organizations with Incentive Compensation Management (ICM) often experience issues post-implementation. Data redundancies. System lagging. Integration problems. User training problems. Or maybe the solution feels clunky, but you can't identify the core issue.

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Incentives Incentive Compensation System 40

Canidium

MARCH 18, 2024

If you are reading this, you have heard of the Oracle to SAP HANA Upgrade for SAP SuccessFactors Incentive Management (previously SAP Commissions, Callidus). You may have noticed a need for more explicit information early in the process. Migrating from Oracle to SAP HANA is a significant undertaking for any organization.

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SAP Oracle Incentives Incentive 52

Xactly

JUNE 7, 2018

Incentive Compensation Management (ICM) solutions help companies manage their sales compensation plans and calculate commission payments. With tens of millions of dollars invested in their data warehouses and critical business applications (i.e. Integration is Key.

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Compensation Incentives Incentive Data 60

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. Sales incentives are meant to attract and retain top talent, keeping them engaged in their work. Uncovering Data Insights. Integrating Transparency.

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Strategy Compensation Incentives Incentive 223

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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Commission Account Compensation Revenue 82

Xactly

OCTOBER 15, 2018

Sales incentives are a great way to motivate your team and keep morale high. Your first line of motivation is your sales commission structure , but there are several different types of sales incentives you can use to further encourage your team. Getting SPIFs Right as Sales Incentives. Making SPIFs too complicated.

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Incentives Incentive Motivation Compensation 84

The Spiff Blog

SEPTEMBER 7, 2023

These pillars include organizational alignment, robust reporting, ongoing professional development, incentive compensation, and sales enablement. Incentive alignment : Shared goals enable the design of incentive structures that motivate sales reps while aligning with the broader success of the organization.

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Incentives Incentive Scale Compensation 83

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. Market data shows that the proportion of ARR earned from new business has decreased from 61.4% Personalizing sales incentives is a difficult task for a number of reasons.

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Compensation Incentives Incentive Commission 83

Xactly

JANUARY 2, 2019

Ultimately, the new compensation and incentive plans must successfully motivate the right sales behaviors to achieve goals, all while driving growth. In this post we’re sharing tips from Nuance Communication Commissions System Manager, Robert Walters. Meet The Expert – Robert Walters, Commissions System Manager.

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Compensation Incentives Incentive Commission 69

Xactly

OCTOBER 29, 2018

In this digital age, we’re constantly hearing about the power of data. However, like any tool, the value of data analytics depend on how you use it. For sales organizations, sales performance data can be a useful tool to drive strategic planning and increase performance. . Drive Strategy with Sales Performance Data.

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Data Top of Funnel Territories Compensation 85

Xactly

OCTOBER 18, 2018

Few leading indicators are more predictive of a company’s future sales performance than its incentive compensation plans. While multiple factors influence the effectiveness of your sales incentive compensation plans, 5 tips stand out: 1. Creating incentive programs that work require balancing multiple design choices.

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Incentives Incentive Compensation Webinar Metrics 78

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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Commission Hiring Face-to-face Incentives 83

The Spiff Blog

SEPTEMBER 1, 2022

A 60:40 commission structure is the standard for average US sales organizations. Although, commission structures vary dramatically across industries and companies ( source ). 51% of sales organizations are using data to analyze and improve performance ( source ). So glad you asked! About Spiff.

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Compensation Salary Incentives Incentive 81

The Pipeline

MARCH 27, 2014

Almost everyone in sales will tell you that incentives drive behaviour, but beyond that there is often little agreement among the pundits as to what the right incentive plan is. One aspect of the incentive where the pendulum of opinion swings back and forth is between simplicity and complexity of a plan.

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Incentives Incentive Compensation Engineering 306

Xactly

APRIL 9, 2018

Those tasked with creating a plan must develop a process and incentive plan that will motivate and encourage the right sales behaviors to achieve goals, all while driving growth. Gartner’s VP of sales mentored me and taught me how sales reps think and act in regards to sales Comp and incentives.

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Compensation Incentives Incentive Commission 70

Sales Hacker Training

SEPTEMBER 10, 2018

Creating a strong sales incentives program will help you attract and retain A-list sales talent, so it is worth putting in the legwork to create a strong plan. . So why do sales leaders overlook something as important as a sales incentives program? Creating a Winning Sales Incentives Program.

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Incentives Incentive Compensation Salary 106

Xactly

JANUARY 7, 2019

The start of a new year comes with a new sales plan—and that means you must reassess your sales capacity needs , align and balance sales territories , and create a sales incentive plan that drives sales performance. pay mix, bonus vs. commission , commission rate, etc.). Understanding Pay Mix & Commission Structures.

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Compensation Incentives Incentive Commission 90

Xactly

SEPTEMBER 20, 2018

Those who work to create a plan for their company must develop a compensation process and incentive plan that will motivate the right sales behaviors to achieve goals, all while driving growth. Sales operations and compensation professionals must create an incentive plan that will drive growth for the company and attain executive objectives.

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Compensation Incentives Incentive Lead Rank 40

Xactly

JUNE 27, 2018

Those who work to create a plan for their company must develop a compensation process and incentive plan that will motivate the right sales behaviors to achieve goals, all while driving growth. In the area of expenses, the key drivers were headcount and commissions. Driving sales versus driving commissions)?”.

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Compensation Incentives Incentive Pharmaceuticals 52

The Spiff Blog

APRIL 27, 2023

Reflecting on this example, there are three notable hallmarks of a good incentive program : Simplicity Visibility/Transparency Appropriate Timing Let’s take a look at how each of these factors plays a crucial role in a successful incentive program: Simplicity “That’s been one of my mantras – focus and simplicity.

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Motivation Hiring Compensation Incentives 75

OpenSymmetry

AUGUST 24, 2017

We’ll examine the action items to consider to ensure you aren’t caught off guard if your internal accounting teams require more detailed compensation-related data from your team to remain compliant to these new revenue recognition rules. Consider asking these questions in the following areas: Data. How can I be most prepared?

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Commission Webinar Metrics Compensation NetSuite 51

OpenSymmetry

OCTOBER 11, 2017

As it relates to operational challenges pertaining to period-to-period incentive compensation processing, the following three challenges emerged from the survey results: Limited reporting. The post Survey Results Validate Need for Transparency and Automation in Incentive Comp appeared first on OS Blog. Lack of workflow automation.

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Incentives Incentive Survey Compensation 40

Xactly

JUNE 27, 2018

Those who work to create a plan for their company must develop a compensation process and incentive plan that will motivate the right sales behaviors to achieve goals, all while driving growth. In the area of expenses, the key drivers were headcount and commissions. Driving sales versus driving commissions)?”.

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Compensation Incentives Incentive Pharmaceuticals 45

Sales Hacker

JUNE 14, 2019

In an ideal world, 100% of your data ends up in Salesforce (or your CRM of choice). According to a recent Salesforce study , poor data hygiene costs the average business nearly 30% of its revenue, amounting to a total economic loss of a whopping $700 billion a year. RELATED: The Real Cost of Dirty CRM Data. Align incentives.

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Data Closing Prospecting Incentives 68

Sales and Marketing Management

OCTOBER 21, 2019

Poll any salesperson on their favorite part of the job, and rarely (if ever) will you find data entry anywhere near the top. Modern, advanced CRM applications are including new levels of automation to eliminate the need for so much data entry. Transparency into commission data is an important step for sales engagement.

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Top of Funnel Hiring Commission SAP 136

OpenSymmetry

OCTOBER 14, 2016

Over 70% of sales organizations report using spreadsheets to calculate sales compensation and commissions for sales team members, which may be susceptible to integrity loss as they are shared throughout the organization. What kind of behavior do current incentive compensation plans promote? How do you monitor churn rate?

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Incentives Incentive Compensation Face-to-face 40

Xactly

AUGUST 22, 2018

In May 2018, Xactly partnered with WorldatWork to complete its annual Sales Compensation Best Practices Study to define the key trends and metrics for companies that want to plan and incent a top sales organization. 60% do not track accuracy and are making a “best guess” about the accuracy of their commission payments.

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Compensation Study Data Lead Rank 58

Xactly

NOVEMBER 15, 2018

In fact, the best way to ensure sales managers do their job well is by creating an incentive plan that drives the right behaviors. Download our "Ultimate Guide to Sales Compensation Planning" for incentive best practices and everything you need for a sales comp plan design project. Annual Target Incentive. Pay Mix and Upside.

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Compensation Examples Sales Management Incentives 87

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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Resources Commission Compensation Hiring 83

Partners in Excellence

JANUARY 27, 2015

I’ve been at the periphery of a number of discussions about commissions and sales. Usually, they are very polarized discussions, with people on each side taking extreme positions, neither providing useful or data based arguments, neither listening too each other and each reinforcing the others’ positions.

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