The Spiff Blog

AUGUST 19, 2022

The only remedy is a formal incentive communication strategy. This post will show you how to deconstruct your current sales compensation process to ultimately build a more effective incentive communication strategy. Start from commission plan development all the way through how you handle disputes. Let’s dive in!

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Incentives Incentive Compensation Commission 81

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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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 95

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. Constantly having to field questions and disputes because reps still don’t understand their commission structure. Let’s jump into it! Final Thoughts.

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Commission Compensation Incentives Incentive 69

Sales Hacker

AUGUST 26, 2021

get paid commissions at 8%. get paid at 12% commissions. Complexity aside, a lot of reps have had at least one experience wherein their overall commissions didn’t match with all related criteria promised as part of the plan. You’re usually given guaranteed draws so that you get paid the incentive. hit your numbers ?

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Commission Compensation Incentives Incentive 95

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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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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Insurance Insurance Commission Incentives 78

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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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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Incentives Incentive Compensation Maximizer 72

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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Canidium

SEPTEMBER 20, 2023

If you have chosen a software solution for your organization - incentive management, SPM, agent lifecycle management, cost price quote - your next task is to select the right implementation partner to deploy it.

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Software Software Incentives Incentive 52

Sales and Marketing Management

MAY 31, 2020

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? . After all, an incentive plan cannot motivate employees if it is too complex for them to understand. Do their existing quota allocations still make sense in this new world?

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Motivation Compensation Incentives Incentive 194

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

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

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. ASC 606 commission accounting requires any associated commission expenses to be amortized.

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Commission Account Compensation ROI 76

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. Recommended reading : How to Develop a Winning Sales Compensation Philosophy Compensation Transformation Tip #3: Personalize your sales incentive programs. The list goes on.

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Compensation Incentives Incentive Commission 83

Allbound

OCTOBER 16, 2019

Incentive programs are critical to any successful channel sales model. By inspiring or rewarding certain behaviors in your partners, incentives can help steer the course for any successful business relationship. Bronze partners may need stronger incentives than those offered to your gold partners. Switch up the reward.

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Incentives Incentive Channels Referrals 57

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. Integrating Transparency. Retaining Top Talent.

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Strategy Compensation Incentives Incentive 223

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

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

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

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

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

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

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. Since sales is tasked with increasing revenues, incentives are an important part of achieving those goals. One thing smaller companies must prioritize is budget.

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Commission Small Business Small Business Enterprise 56

Canidium

JANUARY 9, 2024

During an SAP SuccessFactors Incentive Management (SFIM) implementation, the role of internal teams is pivotal in ensuring a smooth collaboration between you, the customer, and your software implementation partner.

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SAP Incentives Incentive Pivotal 52

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

Xactly

JUNE 7, 2018

Incentive Compensation Management (ICM) solutions help companies manage their sales compensation plans and calculate commission payments. Lack of visibility from siloed software applications ultimately hurt employee productivity, waste IT efforts, and hinder business agility. Integration is Key.

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Compensation Incentives Incentive Data 60

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

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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Hubspot Commission Compensation Incentives 85

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

Cincom Smart Selling

MARCH 13, 2017

Configure price quote software makes approving complex sales orders easy and fast. Each order went through the following checks: The sales manager confirmed pricing and evaluated commission processing. Trust Your Configure Price Quote Software. It Starts with Guided Selling Backed Up by Configure Price Quote Software.

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Software Software Discount System 59

The Spiff Blog

MARCH 8, 2023

The clip shows her, not in her typical role as a seller, but as a buyer evaluating a piece of software. About Spiff Spiff is a new class of software that creates trust across the organization by delivering real-time automation of commission calculations and motivates teams to drive top-line growth.

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Face-to-face Incentives Incentive Commission 76

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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Top of Funnel Hiring Commission SAP 136

Hubspot Sales

JUNE 24, 2019

Sales teams obsess 99% over their attention on contracts, revenue, and commissions, and what happens post sale gets crumbs. This was an epidemic in pre-SaaS software (and still happens, even in SaaS). It reduced the friction to implement software or move to a different vendor if one overpromised.

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Scale Churn Motivation Commission 97

No More Cold Calling

JULY 4, 2013

For example, if your company provides data-storage-management systems for large enterprises, you want to develop cooperative relationships with salespeople at computer hardware companies and software businesses that develop storage tools, database software, or systems integrators.

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Referrals Networking Enterprise Enterprise 244