3 ways to use QuotaPath & HubSpot commission tracking to improve productivity & processes
Sales commissions can be complicated. Reduce friction and errors with QuotaPath and HubSpot commission tracking. This is a guest blog from HubSpot.
Sales teams across most industries earn variable compensation through a commission-based model. This approach often attracts top-tier sales reps who know they can close lots of deals, resulting in particularly high OTEs. Plus, for junior reps just getting started, variable pay acts as a great motivational tool to ramp up quickly.
But from a logistical standpoint, commission can be complicated.
Scratch that, commission IS complicated.
RevOps teams and finance leaders need to prepare to pay sales reps the exact amount every pay period. Since the number fluctuates between pay periods, errors are more common than they should be.
Did you know that 80% of companies admitted to paying sales commissions incorrectly due to human error, discrepancies, clawbacks, and more?
That’s astronomical, and frankly, unacceptable.
Fortunately, there’s a fix for that. Enter QuotaPath and HubSpot commission tracking.
HubSpot is an easy-to-use CRM that powers sales, marketing, and customer care activities to keep details about every prospect and customer in one place. When integrated with QuotaPath, HubSpot adds real-time commission tracking with deal and earnings data to its list of solutions.
There’s so much value in having one source of truth.
By syncing QuotaPath with HubSpot, users eliminate manual commission calculations, and with it, the risk of human error. The rep-friendly view also unlocks instant visibility into attainment and forecasted earnings data. This allows reps to see how their sales pipeline translates into future commissions.
Here are three ways that sales teams can use QuotaPath and HubSpot to prevent pay discrepancies, automate manual workflows, and ensure reps receive every cent of their rightfully earned commissions.
3. RevOps teams can ensure variable compensation is right every time
The QuotaPath platform handles everything from designing and modeling compensation plans, to automated commission tracking and payouts.
All the underlying deal data in HubSpot feeds directly into QuotaPath so that commission info is always accurate and in real-time. No more double data entry. And no manual refreshes.
There’s also a QuotaPath card directly within HubSpot, so reps can view their commissions in HubSpot without toggling between platforms.
With shared dashboards, sales, RevOps, finance, and leadership have access to easier communication and greater clarity. Everyone’s looking at the same numbers, which reduces the discrepancies and allows everyone to focus on the job at hand.
By automating the commission process, RevOps, finance, and sales teams reduce the time spent managing payment and reduce the risk of errors and ASC-606 compliance issues.
Imagine a RevOps and finance team at a B2B SaaS company processing payroll.
Every month, they dig into the performance of each sales rep and see how much they’re owed in commission on top of their base pay.
Amounts differ for every rep according to their performance. One rep earns 8% on one deal and 10.5% on another that’s tied to a different product. The latter deal also unlocked an accelerator for the rep, which boosts the commission rate up to 14%. Oh, and there was a Q3 SPIF, too. Now rinse and repeat for 39 reps.
See? It’s a time-consuming process. And because deal data often won’t sync from a CRM to a company’s commission tracking platform, it’s a process that’s rife with error.
But with HubSpot and QuotaPath, sales rep deal data automatically flows from HubSpot to QuotaPath and an automated, accurate commission payout process follows.
It saves RevOps and finance teams an average of 17 hours on commissions and helps prevent pay discrepancies (like from a last-minute closed deal.)
“Salespeople should know how much they are going to earn. It should be visible and transparent and save them the hassle of trying to self-calculate their commissions,” said Ben Staveley, Tribe Dynamics VP of Sales & Marketing, who uses HubSpot and QuotaPath to provide transparency.
The more frequently you measure your progress toward a goal, the more likely you are to achieve it. That’s why companies typically see increases in quota attainment from 5 to 25% after implementing QuotaPath.
Choosing an appropriate commission structure is equally challenging. But with QuotaPath’s Compensation Hub, teams can plug in various figures and projections into the modeler and choose which comp plan makes sense for each new class of sales hires.
The most important way to keep your sales teams happy is to consistently pay them correctly and on time every pay period. Doing otherwise causes friction within the sales org and leads to turnover.
Ensure your compensation structures are transparent and paid out accurately with QuotaPath and HubSpot.