Commission Tracker

QuotaPath’s real-time commission tracker simplifies how to track commissions.

Did you know 64 percent of businesses still lean on spreadsheets for most of their number crunching, even as automated workflow tools continue to grow in popularity?

The same holds true for running sales commission tracking.

More often than not, we meet sales organizations that manage sales compensation by calculating commissions in Excel. 

It makes sense — to a degree.

We agree that commission-tracking spreadsheets are easy to use and highly dependable when someone owns the entire commission process for a small team.

However, we’ve also found that as sales teams scale and deploy new sales commission structures, spreadsheets, or some other manual commission tracker template, the process becomes less streamlined and more error-prone.

For example, a smaller company with three commissionable sales reps plans to double the team and add two account managers. That’s now eight commissionable reps under two-tiered commission structures. Will a spreadsheet still work?

Perhaps, but now imagine doubling that, and adding a customer success team. What about your first SDR?

That’s a series of commission tracker google sheets or another manual commission tracking template to run the various compensation structures in. Not to mention the individual spreadsheets for each person on the team so that they can see their earnings ahead of their paychecks. (That’s assuming most sales organizations strive to provide early visibility and transparency into their teams’ commissions.)

Rinse and repeat this monthly process of manual entry. Double-check the formulas and math, and prepare for the one-on-one conversations with reps following an incorrect commission check. That trusted spreadsheet isn’t so trustworthy anymore.

Still, for smaller teams without major comp plan changes in the works, spreadsheets will likely remain your best bet.

If that’s the case, check out this blog for some helpful first steps, Calculating commissions in Excel? Start here. This will guide you through building out your rate table and getting your spreadsheet to acknowledge the rates within.

We also created this free Sales Commission Calculator Template, which includes a spreadsheet with four inputs to track deals and earnings. This tool can help you calculate commissions, manage deals and pipelines, and calculate On-Target Earnings (OTE).

Now, for those looking to save about 17 hours running commissions each pay period, turn to QuotaPath for commission tracking software. 

When is it time to adopt commission tracking software?

Are you planning to scale your team? Have you searched for a free commission tracking template or even free commission tracking software? Then congratulations! You’ve already decided that there’s an easier, more accurate, and better way to run compensation plan management.

We typically hear from buyers after commissions have become too large for one person to manage in a sales commission tracker for Excel or the like.

Maybe it takes too much time. The calculations are too cumbersome, errors have spiraled out of control, or they’re looking to provide more visibility into their commissions across their entire go-to-market team. 

Sign up for QuotaPath’s free commission tracker

Or, maybe you’re looking to refresh your entire sales compensation strategy to come up with sales comp plans that motivate your reps, align to business goals, guide selling behaviors and create more transparency. 

If that’s the case, you’re in the right place. By the way, did you know we have a resource with 20-plus sales compensation plan examples, including SDR comp plan templates, AE comp plan templates, VP of sales compensation packages, and more? Use the modeler and library of free comp plan templates at Compensation Hub.

How to select the best commission tracking software

We know we’re not the only commission tracking app, in fact, you’ve got many to choose from. So, while you’re evaluating a sales commission tracker, keep the following in mind:

Tool scalability

As your team continues to grow, will the platform you move forward with be able to scale with you? How much time will it take to add a new compensation plan, team, SPIF, or bonus?

ASC-606 compliant

What is ASC 606? ASC 606 mandates that incremental costs to every contract should be capitalized as an asset and amortized over time to align with the timing of the revenue recognition. Compensation platforms should allow for this ability plus easily exportable reporting.

Trusted data and math

How is the system calculating commissions or syncing CRM data? Is it a native integration with real-time updates? Can the platform show their math? Do you need Salesforce commission tracking, Hubspot commission tracking, or Quickbooks commission tracking? 

No minimum user limits
Some platforms have minimum user requirements and won’t take on customers less than those. Know the user floor requirements early on and select one that scales with your team.

In-app communication

How can reps and platform admins communicate with one another when there is an earnings question or deal error? Does the system allow users to collaborate on commissions within the app? This is a key benefit. Your commission tracker Excel sheet won’t do this at the caliber of a software system.

Coherent and intuitive rep, manager, and executive UXs

Will all sales commission stakeholders have access to the platform, and, more importantly, will they actually use and enjoy it? Find a sales compensation software with high user adoption rates. 

Forecast earnings and attainments

Can reps and leaders project future earnings, run “what-if” scenarios, and pull real-time attainment numbers for individuals and teams? Does it include forecasting software?

Fast time to value
When do you need this process automated? Some providers can take months to schedule even onboarding.

Compensation plan design
Are you revising your compensation models? Will your commission tracker software offer expertise in this area and help you put it into their system? Do they offer resources or tools that include customizable comp plan templates to model and experiment with new plans, like Compensation Hub? 

Partner relationship
How communicative and supportive is the team behind the free commission tracker software? Can you trust them to be a reliable resource who responds in a timely manner?

Rep motivation
Can sales reps use the platform? What pathways are available to set goals, personal or professional, and track against those goals? How easy is it for them to see multipliers, accelerators, milestone bonuses, and spiffs, and how close they are to hitting those?

Ease of use to adjust plans and add SPIFs
For sales leaders, how much time and effort does it take to make an adjustment to an existing compensation plan or add accelerators, bonuses, and spiffs?

Transparent pricing

Do you know how much it’ll cost before talking to a sales rep? Is the pricing easily viewable on their website? Do they charge implementation or service fees? Do they offer a commission tracking software free version?

Sales commission tracker: Why QuotaPath

We created QuotaPath’s commission tracker app to address all of the points above and then some. We execute what we promise and we partner with organizations for the long haul. 

Our platform requires zero coding and delivers a user-friendly experience to those at the rep level through the C-Suite. Through our open API and native integrations, you can trust the data, and we’ll even double-check it for you. “It just works” is something our customers say often.

With QuotaPath:

• Provide reps and leadership with immediate insights into forecasted revenue 
• Monitor team-wide performance
• Pull up ARR in realtime
• Quickly design and build compensation plans within the platform
• Be ASC 606-compliant with commissions recognition and reporting • Incentivize your reps
• Integrate your CRM

 

Additional free commission resources:

• Compensation Hub
• Sales Compensation Calculator
• Quota:OTE Ratio Calculator
• Sales Funnel
• Navigating Commissions & Compensation Planning in a Volatile Job Market
• Free Sales Commission Calculator Template
• Guide: How to Build a Compensation Plan Your Sales Team (& Future Investors) Will Love
• 2023 Compensation Trends Survey Results
• Sales commission agreement template