Create compensation strategies and plans for sales teams
The tricky part is not calculating sales commissions, the tricky part is defining the best type of commission rate according to the nature of your industry, product and margin. Our software helps you decipher the best commission plan that your sales force really needs, and that is really useful and motivating, but that is also profitable and sustainable for your financial situation.
We start with strategy and end with tactics
We define the compensation strategy
The software assists you in the strategic decision-making process to implement an appropriate commission plan for your company. We guide you through a series of steps to define:
- Your industry and your products
- Your budget and profit margin
- The size of your sales team
- The experience level of your salespeople
Modeling, calculation, and ROI prediction of the commission plan
At this stage, we analyze how different commission models affect your sales and financial outcomes. You can see how a model impacts the overall Profit and Loss statement, as well as the P&L of a product or brand.
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We choose the commission model
With the strategy defined and the ROI modeled, it's time to select the commission model that best fits your needs. We help you choose the compensation plan that aligns with your company, your salespeople, and your objectives.
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We launch and effectively communicate the new plan
Now, we enable your sales teams to visualize the compensation models and assist you in effectively communicating the changes or implementations. This helps maintain motivation and commitment among your team members.
Schedule a DemoWe integrate with your CRM, ERP, accounting, and payroll systems
We connect the compensation system with other accounting, tax, and payroll software. Additionally, we integrate seamlessly with tools such as CRM and ERP to ensure a smooth workflow.
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Advanced elements that make up our incentive software
Excel can hardly help you manage commissions in a way that allows you to have full control over all aspects. Discover the elements that make up our commission software and how they can help you improve the management of your sales team.
Bonuses and SPIFs
Bonuses and SPIFs (Sales Performance Incentive Funds) are additional incentives offered to sales representatives for achieving specific performance goals or milestones. SPIFs are typically short-term incentives designed to drive immediate results.
Accelerators
Accelerators increase the commission rate as sales representatives reach higher levels of performance. They encourage representatives to exceed their goals by offering greater rewards for exceptional performance.
Multipliers
Multipliers are factors applied to commission rates or earnings to adjust for various factors such as product types, sales channels, or customer segments. Multipliers can be fixed or variable.
Effective Date
The effective date refers to the practice of assigning commissions to specific time periods, usually based on when the sale was made or recognized. The effective date is crucial to ensuring that sales representatives receive proper compensation for their work.
Static, Changing, or Cumulative Quotas
Quotas are sales targets set for individual representatives or teams. They can be static (unchanging), changing (adjusted periodically), or cumulative (accumulated over time). Quotas serve as a way to measure performance and determine compensation.
Deal Splits
Deal splits involve dividing commissions among multiple sales representatives who contributed to closing a sale. These splits can be equal or customized based on each representative’s contribution. They serve as a way to recognize teamwork and encourage collaboration.
Recoveries
Recoveries allow companies to reclaim commissions paid to sales representatives if the associated revenue is reversed or refunded later. If a customer cancels an order or disputes charges, the company can recover the commission paid to the representative who originally closed the sale.
Advances
Advances provide upfront payments on future commissions to sales representatives who have not yet earned enough commissions to reach their minimum compensation level. Advances can serve as a way to motivate representatives and help them get through slow periods.
Ramps
Ramps are temporary adjustments to commission rates for new hires or underperforming sales representatives to incentivize performance. Ramps are usually temporary and are removed once representatives reach a specific performance level.
Manager Plans
Manager plans provide additional compensation or incentives to sales managers based on their teams' performance or specific metrics such as team quota achievements. Manager plans can include bonuses, additional commissions, or revenue sharing.
Compensation Verification
Compensation verification involves auditing commission calculations to ensure accuracy and compliance with company policies. It helps identify errors, discrepancies, or fraud in commission payments.
Matrices
A matrix provides a structured framework for determining commission rates or payouts based on various factors such as sales volume, product type, territory, or performance metrics. Matrices can simplify commission administration and ensure consistency in payouts.
Real-Time Data Management
Bring in all the data you need, in any format, and easily shape it according to your needs with our commission calculation engine.
Commission Simulation
See the impact of your actions in real time as you build and adjust your plans with our calculation engine. Understand how commissions affect your business.
Real-Time Visibility
Generate clarity and confidence among your salespeople and leaders with our ability to review past, present, and future performance.
Badges and Recognitions
Foster a healthy competitive environment and motivation with our badge and recognition system.
Our Commission Calculation Engine
Our commission calculation engine is a tool that will allow you to manage and calculate your sales team's commissions quickly and easily. It is a product that gives you full control over your commissions and sales team.
1) Integrate with your Accounting and Tax System
Xero
With our Xero integration, you can sync commission data with your accounting system and automate commission calculations for your sales team. This allows you to create customized commission rules for each salesperson.
Freshbooks
With the Freshbooks integration, you can sync commission data with your accounting system and automate commission calculations for your sales team. This allows you to create customized commission rules for each salesperson.
Zoho
Zoho allows us to sync accounting data with our platform for accurate tracking of your sales team's performance and efficient commission management.
Quickbooks
This is the latest integration of our platform. With Quickbooks, you can sync commission data with your accounting system for accurate tracking of your sales team's performance and efficient commission management.
2) Integrate with your Payroll System
Quickbooks
The Quickbooks integration allows you to pay commissions quickly and efficiently. Sync commission data with your payroll system to streamline the payment process for your sales team.
Gusto
By integrating with Gusto, you can automate commission payments to your team once they have been calculated. Sync commission data with your payroll system for a seamless payment process.
Bamboo HR
Bamboo HR allows you to sync commission data with your payroll system for a streamlined payment process. Automate commission payments to your sales team once they have been calculated.
Paychex
With the Paychex integration, you can automate commission payments to your sales team once they have been calculated. Sync commission data with your payroll system for an efficient payment process.
3) Integrate with your CRM
Salesforce
With our Salesforce integration, you can sync commission data with your CRM for precise tracking of your sales team's performance and efficient commission management.
HubSpot
With the HubSpot integration, you can sync commission data with your CRM and automate commission calculations for your sales team. This allows you to create customized commission rules for each sales representative.
Zoho
With our Zoho integration, you can precisely track your sales team's performance and manage commissions efficiently. Sync commission data with your CRM for seamless management.
Odoo
This is the latest integration on our platform. With Odoo, you can automatically calculate commissions for your sales team and sync commission data with your CRM for precise tracking of your team's performance.
Designed for all roles in your company
For Sales Managers
Sales managers need a clear view of their team's sales and performance. With our solution, managers can monitor their team's performance, commissions, and commission payments in real time.
- Commission calculation and tracking
- Commission and payment auditing
- Automated commission payments
Top Sellers
Commission Summary
5K+
For the Human Resources Department
Human Resources personnel can automate commission management and ensure accurate calculations and payments. Additionally, they can generate commission reports and integrate with CRM and ERP systems.
Automate commission management
Integration with CRM and ERP systems
Generate commission reports
Ensure calculation and payment accuracy
Solutions for Banks
Solutions for Insurance Companies
Solutions for Investment Firms
For Accounting Teams
Your accounting team no longer has to worry about managing commissions in their current accounting systems. With our solution, they can automate commission and payment management, integrate with accounting and tax systems, and help improve the efficiency of sales teams.
- Designed to enhance accounting team efficiency
- Automates commission and payment management
- Integration with CRM and ERP systems
For Your Entire Sales Team
The sales team is the key player in generating revenue for your company and the main actor in our platform. With our solution, you will have a 360-degree view of your salespeople, their goals, commissions, and performance in real time. They will have access to their own dashboard to track their performance and goals.
Real-time access to commission data
Custom KPIs and reports for decision-making
Effective collaboration and communication between sales teams
Badges and recognitions to motivate teams
Comparison Table
If you want to compare Compensix's features with other platforms, here is a table with the most important characteristics. You will see that Compensix is the best option for your company.
|
Compensix |
Excel |
Others |
|
|---|---|---|---|
| Assistance with defining the compensation strategy | |||
| Modeling, calculation, and prediction of the compensation plan's ROI | |||
| Assistance in making decisions about the best compensation plan | |||
| Support for the launch and communication of the compensation plan | |||
| Advanced commission calculation engine with multiple rules and conditions (but easy to understand) | |||
| Integration with your CRMs, ERPs, and accounting and payroll systems in Latin America | |||
| Automated Commission Calculation with advanced elements (matrices, multipliers, etc.) | |||
| Real-Time Visibility for Salespeople | |||
| Real-Time Data Management for Administrators | |||
| Custom Report Generation for Salespeople and Administrators | |||
| Commission Audit and Verification | |||
| Technical Support and Updates | |||
| Compliance with Tax and Data Security Regulations | |||
| Scalability for Large Sales Teams | |||
| Full Support in Spanish |