Commission tracking software supports businesses by helping them to track and manage their sales commissions. It can automate accurate commission tracking, measure sales performance, shape sales forecasting models, and more.
Commission tracking software is useful for businesses of all sizes but especially for businesses with scaling sales teams, that use a CRM for their deal data, and have multiple or complex compensation plans.
Commission tracking software helps businesses:
- Align revenue teams over their financial goals.
- Save time by replacing the manual process of calculating and tracking of commissions.
- Generate earnings, attainment, and sales forecast reports that provide insights into sales performance.
- Improve transparency around sales compensation.
- Increase accountability for reps to own their commissions.
- Foster CRM hygiene by integrating data from a CRM (see: HubSpot commission tracking)
When choosing commission tracking software, consider the specific needs of your business like the size of your sales force, the complexity of your commission structure, and your budget.
If evaluating a sales incentive compensation platform, here are some checklist items to pay attention to:
- Tool accessibility
- Forecasting ability
- ASC 606 compliant
- Sales commission reports
- Time to value
- Partner relationship
- Minimum user limits (or lack thereof)
- Scalability
- In-app community
- Pricing
- Implementation and service fees (or lack thereof)
To try QuotaPath before connecting with a sales rep, sign up for a free 30-day trial.