Incentive Compensation Management
Boost seller motivation and performance with incentive compensation management software that offers real-time commission visibility. Salesforce Spiff. Automate commission calculations, reduce administrative tasks, and improve departmental alignment with compensation plans geared for revenue growth.
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Enhance collaboration across departments and align go-to-market priorities with effective incentive compensation management.
Customized Rep Statements
Empower sellers by providing commission statements, tracking progress against goals, and estimating potential earnings. Use commission tracing functionality to eliminate confusion and align organizational priorities with seller motivations.
In-App Comments and Notifications
Manage questions, comments, and disputes efficiently within a single platform. Promote cross-organizational collaboration through real-time comments and notifications.
Commission Estimator
Allow sellers to predict future earnings by providing data-driven insights into incentive estimates early in the sales process. This helps sellers and managers focus on high-impact deals.
Flexible Setup
Quickly set up incentive compensation plans, adapting to changes in team structure or compensation complexity. Track all plan adjustments with an audit log.
Powerful Automation and Workflows
Automate complex commission structures, including accelerators, tiers, and triggers. Calculate thousands of statements in seconds to ensure accuracy and efficiency.
Seamless Integrations
Integrate CRM, ERP, HCM, payroll, or other systems to create a real-time, single source of truth for all commission needs.
Data Accuracy
Use machine learning to automatically match records, eliminating manual errors and providing a reliable single source of truth.
Deep Audit Trail
Add effective dates to any user, plan, or logic, and lock historical statements to maintain accuracy. Manage one-off changes without concern.
Automated Expense Reporting
Maintain compliance under ASC 606 and IFRS 15 with automated, audit-ready expense reports. Use an intuitive interface to manage exceptions, fringe benefits, and varied commission types.
Salesforce and Spiff: A Strategic Acquisition
After pausing mergers and acquisitions over the past year, Salesforce acquired Spiff at the end of 2023. Previously an AppExchange partner, Spiff provided robust incentive compensation management functionality, calculating commissions for sales based on closed-won deals.
Integration into Sales Cloud
Salesforce has integrated “Salesforce Spiff” into Sales Cloud, emphasizing the importance of Incentive Compensation Management (ICM) for high-performing companies. With 90% of top-performing companies using incentive programs, this acquisition enhances Salesforce’s offerings.
Growth and Market Presence
Before the acquisition, Spiff had 1,000 customers and was growing at 100% year-over-year. Salesforce’s market share of approximately 23% in the Sales CRM market indicates significant growth potential for ICM.
The Importance of ICM
ICM software addresses the complexity of commission calculations, including various percentages for new sales, renewals, bonuses for new customers, accelerators, and team incentives. Accurate calculations across large sales teams are crucial for maintaining motivation and performance. This is a huge time saver.
From Excel to Cloud Technology
While Excel spreadsheets have been a traditional solution for ICM, Spiff’s cloud technology offers greater functionality and user-friendliness. And it interfaces directly with Sales Cloud.
How Salesforce Spiff Works
Available as an add-on for Sales Cloud customers from May 2024, Salesforce Spiff offers:
- Low-Code Commission Builder: Design scalable incentive plans and visualize their impact on sales teams.
- Real-Time Commission Estimates: Enable sales users to see estimated commissions in real time, helping them understand the impact of different sales scenarios.
Enhanced User Experience
The low-code builder simplifies the creation of commission plans, saving time compared to Excel. Real-time commission visibility allows sales users to see potential earnings, motivating them to pursue lucrative opportunities.
Final Thoughts
Sales roles are essential for driving business revenue. Tools like Spiff provide transparency into potential earnings, significantly impacting sales teams’ motivation and performance. Integrating Spiff into Sales Cloud enhances Salesforce’s value proposition, helping businesses optimize their sales processes and achieve better results.
Availability
Salesforce Spiff will be available as an add-on for Sales Cloud customers in May 2024. Non-Salesforce customers can also purchase the product from Salesforce.com/salesforcespiff starting May 2024.
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