In today’s fast paced and competitive environment, businesses are constantly looking for motivation and rewards and reinforcement for their sales teams, partners and employees through incentive compensation programs.

Somehow, managing these programs manually can be complex and involves errors.

This allows us to introduce incentive compensation management software which provides a strong solution designed to automate and optimize the entire process of easy calculations of commission, incentives and track incentives and easily push payouts.

The platform also enables to work with open and transparent communication and results driven incentives.

What is incentive compensation management softwares?

Incentive compensation management softwares is a specified solution designed to automate and funnel the procedure of calculations, managing and administering incentive based compensation plans. It allows companies to accurately calculate and track commission, bonus and other incentive payments for sales teams.

The purpose of the incentive compensation management software is to simplify and optimize the complex time consuming task of managing incentive compensation. The platform enables businesses to define and implement tailored compensation plans according to the needs of the business and track performances.

Some general features of incentive compensation management software are as follows:

1. Design and configure compensation plans: The tool allows businesses to define and configure incentive compensation plans according to the specific needs, which involves setting up commission structures, performance metrics and other features.
2. Automate calculation and payouts: The platform automates the calculations of incentives payments based on rules and performance metrics, which allows to eliminate manual calculations.
3. Track performance and metrics: Incentive compensation management platform provides tools and dashboards to track and analyze performance metrics related to incentive compensation plans.
4. Generate reports and analytics: the platform offers robust reporting and analytics capabilities to generate comprehensive reports on incentive compensations.

Incentive compensation management software funnels and makes the process easy of managing incentive based compensation program that allows automation, accuracy and efficiency to calculate and track businesses to boost performance.

20 best incentive compensation management softwares

List of 20 best incentive compensation management softwares

1. Xoxoday Compass
2. Spiff
3. CaptivateIQ
4. Everstage
5. SAP Commissions
6. Varicent
7. ElevateHQ
8. Xactly Incent
9. QuotaPath
10. Anaplan
11. Performio
12. Commissionly
13. QCommission
14. Kennect
15. Iconixx Sales
16. Easy-Commission
17. Core Commissions
18. Palette
19. Visdum
20. SmartWinnr

1. Xoxoday Compass

Xoxoday Compass is a software tool to manage commission and incentives to increase revenue for the businesses. Compass is an engaging tool for the revenue-boosting staff via game- like elements, rewards, recognition, communication and analytical capabilities. Compass also allows turbocharge revenue boosting teams.

Some notable features of Xoxoday Compass are:

• Allows customized incentives and rewards.
• Game- like elements, rewards, recognition, communication and analytics capabilities.
• Enables customized notifications and motivate through reminder.
• Seamless incentive calculations.
• With audit records, keep a track on modifications and payments.
• Pre-built integrations with popular tools like Hubspot, Salesforce, Close.io, and more.
• Users can utilize a mobile device to access information systems and implementation.
• Performance by the team is visible on the dashboard.
• Allows the sales team to plan, design and automate incentives and commission structure.

Pros:

• Easy accessibility
• Points can be redeemed in various ways
• Easy to set up the program
• Comes with various brand choices
• Allows measurable achievements

Pricing: You can connect to the sales team to have tailored pricing based on the number of commissionable employees and other features you are looking for.

G2 Rating: 4.7/5

Incentive Management Software to Streamline Management

Incentive management software to streamline, track, and optimize your business incentives for enhanced sales team and partners engagement and ROI.

2. Spiff

Spiff is a tool to track commission and incentives that automates calculations for commission and motivates teams to foster cutting-edge advancement. Spiff is designed to facilitate trust throughout the organization, increase visibility of the employees performance and gain top-line growth.

Some notable features of Spiff are:

• Allows to generate commission plans for weeks and tailor complex changes in commission plan
• Document management enables to handle contracts, signatures and more in just one application
• Allows reps to see visual commission trends and data related to the teams
• Commissions can be operated from anywhere through native integration
• Easy changes for the statement or data source

Pros:

• Easy to use platform that allows to keep a track on the payout/ commissions over the course of year.
• Allows real-time visibility into the goals.
• Sales payout depends on different criteria.
• Easy log in, verify the commission status and calculations.

Pricing: For the pricing you can connect to the sales team.

G2 rating: 4.7/5

3. CaptivateIQ

CaptiveIQ is a dynamic commission solution platform that allows to run effective incentive compensation programs. Integrating the versatility to incorporate any plan component and usability to own the system and enhance commission plan over a certain period of time.

Some notable features of CaptiveIQ are:

• Tools allows admins to be self-sufficient and adapt any compensation plan in hours.
• Enables valuable insights in real- time to boost smart decisions.
• This commission tracking software allows constant security for product and services
• Provides sales rep experiences to sales teams with zeal to boost effective sales behavior
• Sales commission tools allow sales management to manually adjust and split commissions.

Pros:

• Keep a track on earning and quota attainment goals
• Easy-to-use interface that simplifies the compensation management process
• Transparent, automated and integrated commission management
• Easy to track upcoming commissions check

Pricing: CaptiveIQ pricing can be revealed by interacting with the sales team.

G2 Rating: 4.7/5

4. Everstage

Everstage offers an intelligent sales commission experience for rapid scaling. The software provides gamified incentives experiences to motivate reps and increase the visibility into the performance data. Tracks and removes the complexity of sales commissions process for admins payees.

Some notable features of Everstage are:

• Allows to unlock the power of incentives and maximize the ROI of incentives program.
• Recurring busywork takes operations and finance teams away from accelerating revenue growth.
• Comes with budget planning features.
• Trackable goals can be set within the tool.
• Real time update are available for commission and quota achievements.
• Easy to use visuals and provides correct commission on the spot.
• Approach to address and resolve variable compensation issues.

Pros:

• Easy to use features and simplified dashboard that depicts easy sales executive on quota and commissions.
• Easy to manage and track incentives and commissions.
• Provides easy and in depth track of activities.
• Allows to track growth and achievements.

Pricing: Kindly contact the sales team for pricing details

G2 rating: 4.9/ 5

5. SAP Commissions

SAP Commissions is an all- inclusive configurable solution system that enables to manage incentive compensation processes for sales order, direct and indirect sales forces.

Some notable features of SAP commission are:

• The tools automates commission procedures, time saving and effort in calculations.
• Customizable dashboard and reporting tool that allows real- time insights over commission data.
• Allows sales team to access commission statements and performance metrics via mobile access to commission data.

Pros:

• Easy-to-use tool which allows to store huge data.
• Reports are transparent and precise.
• Reduces error and motivate the sales team and align sales to indirect sales force.

Pricing: Contact the sales team for pricing details.

G2 rating: 4.1/ 5

6. Varicent

Varicent is a SaaS based award winning company that enables companies to drive high performance and boost revenue by providing vital data, gaining insights and tools through a single platform. Varicent enables teams with AI- driven insights and make better decisions, perform exceptional and create incentive strategies.

Some notable features of Varicent are:

• Mobile devices can also access system data and functionality.
• View performance indicators such as quota attainment and tiers
• Use AI- driven insights to make better decisions and outdo previous performance.
• Provides reporting functionality that allows management to determine the performance of sales organizations.
• Allows sales management to adjust quota by sales rep.

Pros:

• Easy to track bonus and sales.
• Provides with all- encompassing reports.
• Easy and flexible in use
• Innovation in enhancing functionality and new product offerings.

Pricing: Please contact the sales team.

G2 rating: 4.6/ 5

7. ElevateHQ

ElevateHQ is a software based on sales commission which also allows to upgrade the companies sales incentives to boost the confidence of the employees. It also revolutionize the way companies utilize sales incentives.

Some notable features of ElevateHQ are:

• This tool can easily automate your commission plan regardless of the complications.
• Users can effortlessly create and manage proper commission plan.
• Provides insights for performance rep and guide them towards improved sales.
• With detailed insights and reports, it can monitor and enhance commission plans.

Pros:

• Delivers monthly incentive information.
• Highly user- friendly programme.
• Updates data of every task completed.
• Easy to operate.

Pricing: The pricing is categorized as

• Basic ($25/ month for a user)
• Professional ($30/month for a user)
• Enterprise ($40/ month for a user)

G2 rating: 4.7/ 5

8. Xactly Incent

Xactly Incent is a software system that allows businesses to design, automate and manage incentive compensation whether simple or complex and allows to align seller behavior with revenue.

Some notable features of Xactly Incent are:

• Engage in better performance with commission visibility and seamless integration.
• Comparing the contribution margin on in-ramped versus ramped reps.
• The ability to empower and make proper and strategic decisions with accurate revenue data.
• It incorporates local sales managers input in reallocation of data or re create it.
• The tool understands the value of bringing together operational and intelligence capabilities to boost revenue operations.

Pros:

• Helps in better plan administration and less time consuming.
• Enables higher quota attainment.
• Increase better performance with commission value.

Pricing: Please contact Xactly Incent to obtain current pricing.

G2 rating: 4.2/ 5

9. QuotaPath

QuotaPath is a commission tracking system and sales compensation management software which allows easy scaling revenue teams to manage and track variable pay. QuotaPath users obtain real time visibility into commissions and predicted revenue.

Some noticeable features of QuotaPath are:

• The UX of the software is designed in a way to ensure the admins can quickly make adjustments to sales comp.
• With real time visibility into the performance, funnels sales compensation between sales, RevOps and finance.
• Build a plan to motivate reps and aligns well to the business objectives.
• Variable compensation structure allows to boost results and commission management software that the team will enjoy.

Pros:

• Simple to construct and copy plans.
• Effective customer support.
• Easy to integrate with Salesforce to pll in all the CRM data.
• No platform fee is applied and easy to set up.

Pricing: The pricing is categorized as:

• Free trail
• Start up- $30/month
• Scale - $40/month

G2 rating: 4.7/ 5

10. Anaplan

The Anaplan is a platform that allows to contextualize real time performance and forecast future outcomes for assured and confident decisions. Anaplan connects and plans strategy round the enterprise to level up the business.

Some noticeable features of Anaplan are:

• Anaplan provides a modeling environment that enables users to build tailored plans based on the specific needs of the business.
• Allows for seamless integration with data sources, enterprise systems, database and spreadsheets.
• Offers interactive dashboards and reporting capabilities to visualize key performance areas.
• Provides mobile access to interact with their planning models.
• Supports statistical analysis and visualizes the data.
  

Pros:

• Low cost platform which provides business a quick ROI.
• The tool can be operated by the business itself easily.
• Empowers to build business through structure without compromising on flexibility.
• Allows fast processing information and connects different parts of the business.

Pricing: Please contact the sales team for pricing policy.

G2 rating: 4.6/ 5

11. Performio

Performio is the only incentive compensation management provider that drives. The performance with a product built to handle complexity, it is addressed through the unique no- code architecture, data transformation capabilities and automated workflows. It is specifically created to fix complex commission structure and calculations to ensure accuracy.

Some noticeable features of Performio are:

• Provides companies to create and customize their commission plan based on their unique business requirements.
• Supporting complex commission structures also helps in splitting commissions.
• Tracks performance and monitors individual and team performance.
• Allows real- time easy to use dashboards and analytical reports.
• Open and transparent communication between the teams.
• Platform that centers where sales reps can view the compensation plans and track performance.
• View performance across several teams, regions to optimize more effectively.

Pros:

• Allows real- time glimpse of sales performance.
• Front- end data ingestion is flexible and allows every field type and data structure.
• User- friendly access from homepage.
• Dashboard gives a clear view of monthly results
• Provides accurate data and helps to catch error.
• Have a responsive and supportive customer service team.

Pricing: Please contact sales team for the pricing.

G2 rating: 4.3/ 5

12. Commissionly

Commissionly is a cloud based sales commission and sales compensation management web app that highly focuses on small to medium sized business.

Platform serves all the commission needs irrespective of the complexity, also allows to design revenue or product based commissions. It offers a range designed to simplify commission calculation and track sales performance error free.

Some noticeable features of Commissionly are:

• Allows companies to define and personalize the commission structure and calculations.
• Monitors real- time sales performance and shows dashboards and reports which are likely to display key sales metrics.
• Enables commission payouts, analyze sales performance and relevant metrics.
• Automated and simplified commission process and enhanced sales performance.
• Usable catalog of set commission and sales reports to build custom reports with report builder tools.

Pros:

• Adds reports to the dashboard and schedules automatically emails to sales reps.
• Easy to track commission plans.
• Allows to set up future changes in the commission plans.
• Easy to import data feature on the platform.

Pricing: Kindly contact the sales team for pricing details

G2 rating: 4.8/ 5

13. QCommission

QCommission is powerful, flexible sales commission software that calculates sales compensation accurately and reduces errors related to manual methods. It allows the establishment of crediting and calculation rules for various incentives. Performance transactions can be processed, credited and calculated frequently.

Some noticeable features of QCommission are:

• Compensation statements generated includes summary section that provides an overview of commission earnings over a period of time.
• Breaks down the earning transactions or sales activity and also provides a detailed view of commission calculated.
• Clearly outlines the rates and splits for each transactions
• Easy distribution of compensation statements to sales reps.
• Provides tools to track and monitor performance.
• Funnels the commission approvals and fosters timely payouts.
• Ease of administration is enhanced when the commission administration system.

Pros:

• Uploading data and processing is easy.
• Software allows to consolidate over 10 spreadsheets of work into one streamlined process.
• Simplifies sales commission process

Pricing: Pricing of QCommission

• Pro ($15 user/month)
• Premier ($21 user/month)
• Enterprise ($37 user/month)

G2 rating: 4.6/ 5

14. Kennect

Kennet is a premier incentive platform for businesses that boils down the simple solutions to manage complex compensation plans. It automates the calculations of incentives for admins and also provides real- time visibility of incentive payouts to sales reps.

Pros

• User friendly UI/UX design, makes overall purpose hassle free, improved productivity.
• Real- time performance visibility for each individual and ties their earning.
• Flexible and adaptive.
• Provides sales and incentive reports for managers in depth analysis.

Pricing: Please contact the sales team for pricing policy.

G2 rating: 4.7/ 5

15. Iconixx Sales

Iconixx Sales is a sales performance management software solution designed to help businesses streamline the sales compensation process that automates commission, bonus and merit programs.

Some of the noticeable features of Iconixx Sales are:

• Helps to automates and customize the work environment according to the needs.
• Act as a partner to resolve challenges and provide long-term support.
• Automates incentive compensations, delivers accuracy and transparency
• Helps to visualize future of the company and sales team
• Allows with real-time visibility of members and executives
• Easily set and manage sales goals and results by qualitative objectives or qualitative objectives.
• Communicate clear details and result payouts which involve commission, draws, chargebacks and cancellations.

Pros:

• Time saving platforms, makes calculations easy and eliminates errors.
• Provides good ROI for small to mid market clients.
• Cost effective sales incentive solution.
• Effective designed solutions are a strong reflection of the team behind the solution.
  

Pricing: Kindly contact the sales team for pricing.

G2 rating: 4.5/ 5

16. Easy-Commission

Easy- Commission is user friendly sales commission software which allows you to calculate sales commission in an easy way. It is completely web-based and allows sales reps to directly access commission statements.

Some of the noticeable features of Easy-Commission are:

• This web-hosted platform allows to set commission plan easily and track sales commissions for the sales team
• Allows to track commission accurately on time and resolves issues in calculations and payouts.
• Offers with comprehensive report capabilities that provides details insights in commission and sales data
• Clear and transparent communication that allows to avoid confusion among the team.

Pros:

• Commission statements allow you to see detailed calculations.
• Allows technical support and accommodating.
• Combined flexibility with affordable software and allows proper functionality.
• Allows simple and quick payouts.

Pricing: Kindly contact the sales team for pricing.

G2 rating: 4.5/ 5

17. Core Commissions

Core commission simplifies the sales commission process that enables it to automate incentives and commission calculations. The tools are cost effective but are capable of handling complex commission rules. Users can easily generate individualized reports within a few clicks.

Some of the noticeable features of Core Commission are:

• Sales reps can directly access their commission reports and perform stats in real-time by web-based core portal.
• Allows a flexible commission platform that manage sales compensations.
• Handles complex commission rules and resolve them in an easy manner.
• Scalable pricing allows for subscription options that vary according to commissioned team size.

Pros:

• Easy implementation process
• Flexible and adaptive with the changing needs
• Ideal to track for accounting and finance without glitches or sophisticated formulas.

Pricing:The pricing policy for Core Commission:

• 30 days free trial
• Lauch ($12/ month for a single payee)
• Enterprise ($25/month for a single payee)
• Manage services (+$5/month per payee)

G2 rating: 4.5/ 5

18. Palette

Palette is a software solution that focuses on incentive-based programs and rewards management. It helps businesses design, implement and administer various types of incentives programs to motivate and engage their employees, partners and customers.

Some of the noticeable features of Palette are:

• Palette allows businesses to design and configure incentive program tailored to their specific needs.
• The software provides a flexible framework to define program objectives, eligibility criteria and reward structure.
• Software provides tools to capture and analyse relevant data.
• Software facilitates the management and distribution of rewards associated with incentive programs.
• Offers effective communication between program administrators and participants.
• Provides robust reporting and analytics capabilities to measure program performance and evaluate the ROI.

Pros:

• Integrates seamlessly with CRM and provides a clear picture of commission.
• Responds timely to any query
• Easy to track target and bonus

Pricing: Starter ($30/month for 1 seat)

G2 rating: 4.9/ 5

19. Visdum

Visdum is the only sales compensation software tailor-made for SaaS business. Visdum is the top choice for revenue operations, sales operations and finance team to automate and optimize the sales incentives process and gamify with accurate sales forecasts and real-time performance.

Some noticeable features of Visdum are:

• Plan comparison and sales performance evaluation.
• Reduce time spent on sales commission reconciliations, generating journal entries.
• Allows to see commission calculations across any rep, plan and pay period in real-time.
• Allows to verify and approve before putting the comp plan into action.

Pros:

• Clean and simple UI to navigate and understand the payouts and commission rates applied to deals.
• Systems allows to do instant integration with CRM
• Complete visibility to the sales team in comp plans and earnings.

Pricing: Kindly contact the sales team for the pricing.

G2 rating: 4.2/ 5

20. SmartWinnr

SmartWinnr is a comprehensive tool that keeps the sales team up-to-date with product knowledge, guarantees uniform messaging during customer interactions and increases sales at same time. Use gamified KPIs to boost sales and track incentives in real time.

Some of the noticeable features of SmartWinnr are:

• Gamified elements to make sales training and learning more interactive and engaging.
• Offers quizzes, challenges and competitors that allow sales reps to test their knowledge and acquire new skills.
• Provides analytics and reports that offers insights into training effectiveness, knowledge gaps and sales performance.
• Facilitates communication and collaborations among sales team members and managers.
• Integrates with existing CRM systems, learning management systems and other sales enablement tools.

Pros:

• Accessible via mobile phones and allows sales reps to access training content anytime.
• Streamlines data exchange and ensure a seamless flow of information.
• Improves productivity and product knowledge all in one platform.
• Allows to push learning courses to specific users at specific times.

Pricing: Please contact sales team for pricing

G2 rating: 4.5/ 5

Conclusion

The world of incentive compensation management has witnessed significant advancement with various edgy software. This blog post explored 20 best incentive compensation management software options available which highlights the features and benefits.

These platforms have revolutionized the incentive compensation management and optimize the compensation plans and processes that boost better performance.