Efficient sales commission automation
Invite your team to your workspace to access current earnings and payments by rep, team, deal, date, and plan. With QuotaPath, your team can:
Streamline compensation management and commission calculations. Save time by eliminating shadow accounting and trust the data is correct by syncing your deal system of record with QuotaPath. Focus your reps' attention on the deals that drive revenue and away from counting their commissions.
When sales, operations, and finance teams look at the same data pulled from a CRM, fewer questions and disputes arise. Teams keep better records and trust grows. Having a shared record and in-app communication helps to resolve conflict when misunderstandings do happen.
Import your data, fields, or objects from your CRM to calculate commission payments for multi-year deals, renewals, demos, specific products, users, and more. Use our Mapping Manager to build and save reusable data mapping templates to cut data sync set up times in half.
With data centralized, it’s finally possible to measure the success of your compensation plans. Quickly create custom reports and pivot tables with your team’s earnings and deal details to measure rep efficiency, attainment progress, and identify deal anomalies.
For plans that are more complex, like those based on GRR, we transform your data and automate calculations using computed fields.
Our Home dashboard surfaces pressing tasks, such as pending deal approvals, unresolved deal flags, pay discrepancies, and final steps needed to finalize commission payment schedules. This organized workflow cuts time spent processing commissions from days to hours.
Provide reps with the ability to translate their pipeline into actual earnings and attainment through forecasted views and enable them to raise compensation questions directly in-app for fast resolution. And give leadership team and individual performance leaderboards to prioritize coaching and get at-a-glance views to understand progress toward goals quickly.
By creating understanding and trust around comp plans and commissions, EverView was able to focus sellers on the most impactful deals. 95% of their team logs into QuotaPath daily. With visibility into future earnings, and a new targeted sales structure EverView achieved its highest sales year ever.
Invite your team to your workspace to access current earnings and payments by rep, team, deal, date, and plan. With QuotaPath, your team can:
Plan performance metrics show each comp plan’s commission earnings, average effective rate, and attainment. Set fiscal periods and see total earnings, effective rates, and a breakdown of reps who will receive commissions from the deal and why. These customizable metrics give you control over the management of your commissions, eliminating uncertainties and errors.
Looking to enhance your compensation plans? Standardize them. Add commission floors to your leadership structures. Close performance gaps and test future plan changes with SPIFs.
A sales commission is an important part of sales compensation. It’s a form of variable pay and is the additional amount of money a sales representative can make on top of their base salary. It’s typically a percentage of a deal amount that a rep earns for closing that deal.
A typical sales commission structure includes three major parts. The first is on-target earnings (OTE), which is the amount of money a rep can expect to earn if they hit 100% of their quota. Next is quota(s). This is the amount of revenue a sales rep is expected to sell during a given period of time. And, lastly is a commission and/or a bonus. This is the percentage or set amount of money paid for closing deals.
There are different ways to calculate commission. For a simple compensation plan, one way is to use Excel or spreadsheets. But the best way is to use a sales commission software to provide transparency, save time, and remove mistakes. Learn more in our ebook: Your Guide to Setting, Calculating and Tracking Sales Compensation.
To track commissions, the best way is to have a single source of truth that both sales representatives and sales leaders have visibility into. This can be done in a spreadsheet or commission tracking software. There are many benefits of tracking commissions using software, like automation and transparency.
There are a lot of ways to motivate your sales team, and it’s important to remember that each sales rep is motivated by different things. The easiest way is with money. Pay reps an appropriate amount of money and a good commission rate and they will be motivated to sell. Another way is to provide transparency into their commissions. This ensures that reps know how much they are going to get paid and where to focus their efforts, which can motivate them to close more deals.
A quota calculator helps you figure out what your quota should be for sales reps. Use this quota calculator to plan or calculate sales quotas and commission rates for your sales compensation plans.
Use QuotaPath to build and manage your sales compensation plans.