Streamline Your Sales Compensation with the Top 15 Sales Compensation Software

In today's fast-paced business landscape, sales compensation plays a crucial role in motivating and driving the performance of your sales team. Effective sales compensation strategies attract top talent and ensure your salesforce remains motivated and aligned with your organization's goals.

However, managing sales compensation can be a complex and time-consuming process. Manual calculations, spreadsheets, and outdated systems can lead to errors, inconsistencies, and dissatisfied sales reps. That's where sales compensation software comes into play, revolutionizing how organizations handle their sales incentive programs.

Sales compensation software offers a plethora of advantages over traditional manual methods. With automation, you can streamline the entire process, reducing administrative burdens and accurately calculating sales commissions, bonuses, and incentives. Furthermore, these platforms empower sales teams by providing transparency and visibility into their compensation plans, fostering trust and driving performance.

In this blog, we’ll discuss about some of the best sales compensation software, their features, pros, cons and pricing to help you make the best decision.

What is sales compensation software?

Sales compensation software is a specialized technology solution designed to automate and streamline managing and calculating sales compensation plans within an organization. It provides a centralized platform that enables businesses to define, track, and administer sales incentives, commissions, bonuses, and other compensation components for their sales teams.

Traditionally, sales compensation management involved manual calculations, spreadsheets, and tedious administrative tasks. However, sales compensation software simplifies and accelerates this process by automating calculations based on predefined rules and parameters.

It helps organizations eliminate errors, ensure accuracy, and provide transparency in compensating their sales representatives.

Sales compensation software offers a range of features and functionalities that make it easier to design, implement, and manage complex sales compensation plans. These tools typically include:

1. Plan design and modeling: Sales compensation software allows businesses to create and customize compensation plans based on various parameters, such as sales targets, quotas, performance metrics, and payment structures. It enables organizations to model different scenarios and evaluate the potential impact of compensation plan changes.
2. Performance tracking and analytics: These software solutions provide real-time visibility into sales performance, enabling organizations to monitor individual and team achievements, track progress towards targets, and gain valuable insights through comprehensive analytics and reporting. This data helps optimize sales strategies and identify top performers.
3. Calculation and payout automation: Sales compensation software automates the calculation and payout process, eliminating the need for manual calculations and reducing errors. It ensures accurate and timely payment of commissions, bonuses, and incentives to sales reps, boosting motivation and morale.
4. Quota management: These tools assist in setting sales quotas and aligning them with compensation plans. They help define achievable targets, track progress, and adjust quotas as needed to ensure fair and balanced sales performance evaluation.
5. Integration and data management: Sales compensation software integrates with other business systems, such as CRM (Customer Relationship Management), ERP (Enterprise Resource Planning), and payroll systems, to streamline data flow and ensure consistency. It minimizes manual data entry and enhances data accuracy.

Implementing sales compensation software brings several benefits to organizations, including increased efficiency, improved accuracy, reduced administrative burdens, enhanced transparency, and the ability to motivate and incentivize sales teams effectively.

List of 15 best sales compensation software in 2023

Here are the best sales compensation software in 2023.

1. Xoxoday Compass

Xoxoday Compass is a tool for managing incentives and commissions that aids businesses in boosting revenue and transforming their biggest sales expense into a catalyst for business growth. Compass provides you all the tools you need to engage and energise your revenue-generating staff through game-like elements, rewards, recognition, communication, and analytics.

Some notable features of Xoxoday Compass are:

• It creates commission plans of any complexity that motivate and scale.
• With complete audit records, you can keep track of computations, payments, and modifications.
• Help the sales team to plan, design and automate complex incentive and commission structures.
• It increases sales productivity, saves on incentive budgets, and many more.
• Gamified programs can be built by using this tool for different business metrics.
• Partners, agents, and staff can get details of your incentive program.
• Gives you a seamless incentive calculation.
• Team performance is visible on the dashboard.
• 100% microservices based on SAAC.
• Send customised reminders and notifications.
• Create a chat group and you may experience the power of a community.
• Establish an environment that is focused on earning and accomplishment by displaying earning trends, opportunities, and more.
• Users of the system can utilise a mobile device to access system information and functions.

Pros

• The gamification element encourages you to put in extra effort and get incentives.
• The program is simple to set up.
• Points can be encased in a variety of ways.
• Xoxoday gives several brand choices.
• Variety of redeemable coupons and vouchers.
• Easily accessible.

Pricing: You can connect with the sales team to have customized pricing based on the number of commissionable employees, the features you are looking for, the size of the data that needs to be processed, and other factors.

G2 rating: 4.7/5

2. Spiff

It is the premier sales incentive and commission tracking software that automates commission calculations and inspires teams to create top-line development. Spiff is the preferred choice for high-growth organisations because of its easy user interface, real-time visibility, and frictionless connections.

Some notable features of Spiff are:

• It generates commission plans for each week, and modifications can frequently be changed no matter how complex your commission plan is.
• It provides the most extensive commission structure and calculates numerous statements in seconds
• With the use of our mobile app, you can provide sales team members with real-time insight into their commission statements.
• You can effortlessly map and pair data from any source with Spiff’s dynamic relationship builder.
• Native integration allows you to operate commissions from anywhere.
• Easy change and replacement of any statement or data source.
• Allows reps to see visual commission trends and data related to their specific team.
• Accurate Statements will cut down on the time it takes to settle a disagreement because employees will already be aware of the intricacies of where their commission comes from.
• Through Spiff, reps can examine pending invoices, deals that are ready to complete, and AI-generated commission estimations in all aspects- past, present, and future.
• With document management, you can handle contracts, signatures, and storage all in one app.
• Reps can view their statements in their preferred currency while reporting in another.

Pros

• It quickly connects to Salesforce and provides employees with the most recent earnings information.
• As everything is in its right position, accessing the tool is simple.
• It provides real-time visibility into the firm and its goals.
• It allows you to easily and correctly assess your progress throughout the month, and assists you in keeping track of closed business.
• The sales payout depends on various factors and criteria.

Pricing: Please contact their sales team for pricing details.

G2 rating: 4.7/5

3. CaptivateIQ

CaptivateIQ is a sales commission software that helps firms to design the most effective commission schemes for their ever-changing business goals. Getting the right blend of flexibility to accommodate any plan component and usability to own the system and change commission plans over time.

Some notable features of CaptiveIQ are:

• A sales commission platform that is able to manage the most sophisticated commission models.
• It connects to the organization's tools to automate data flows and create a single source of truth.
• On this commission tracking software, constant security enhancement is done for products and services.
• Strategically modify and refine your incentives and keep up with the ever-changing nature of the commission.
• Get commissions that are transparent, accurate, and automated.
• Easily automate processes to save time and can simultaneously be learning how to offer better results.
• Maintain your competitiveness by putting in place an adaptive compensation plan.
• It increases the return on investment of your compensation program.
• Plans papers and agreements that provide sales representatives with access to compensation agreement specifics.
• With the help of sales commission software sales management has the ability to manually adjust pay and split commission.

Pros

• Easy to track earnings and see the progress toward the goal.
• An interface that is simple to utilise.
• The simple strategy for commission generating and reporting.
• Commission computations are automated, adjustable, transparent, and integrated.

Pricing

• For Payees and Admin: Captivate charges a monthly membership fee based on the total number of payees using the platform to manage their remuneration.
• Implementation: The Services team charges a one-time setup fee to establish your pay plans and employee data.

G2 rating: 4.7/5

4. Everstage

Everstage provides hyper-growth firms with a smooth and intelligent sales commission experience. It is a cloud-based commission automation tool created to assist organisations in controlling commission calculations, pays, tracking, quota, and more through a single site.

Some notable features of Everstage are:

• With its easy-to-use and adaptable design, it provides correct commissions promptly.
• Provides the precise commission collected prior to finalising the deal.
• Reps will know the exact commission paid for each deal.
• Approach to addressing and resolving variable compensation.
• It has the finest planning and budgeting features.
• You may choose to make a profile private or public, similar to social media profiles.
• Displays both individual and group insights, such as fresh leads and cold calls.
• Within the tool, the team can set trackable goals.
• The software allows for enough flexibility to satisfy corporate requirements.
• Sales personnel can receive real-time updates on their commissions and quota achievement.

Pros

• The tool is easy to access and understand.
• The dashboard is simple to comprehend as every detail is available in it.
• Easy to manage incentives, commissions, and other income.
• Offers you the simplest method to keep track of activities for better insight
• Easy track of growth, tasks, incentives, payouts, and many more.

Pricing: Please contact the sales team for pricing details.

G2 rating: 4.9/5

5. Varicent

Varicent is a SaaS company that provides a unified platform to help companies drive high performance, maximize revenue, and fuel growth. The platform offers essential data, insights, and tools that are essential for companies to achieve their goals. Varicent simplifies the process of managing and analyzing key performance metrics.

Some notable features of Varicent are:

• Salespersons can calculate their expected commission on a contract by altering the pricing and parameters of the deal.
• Errors may be readily filed, tracked, and remedied.
• Maximize each team member's and each territory's potential for earning money.
• Maintain alignment with business objectives and budgets, even as they change over the year.
• Method for managing and resolving various compensation disputes/disputes.
• Features are available which allow sales reps to examine pay agreement information.
• It obtains a detailed audit trail of all modifications.
• This application allows representatives to keep track of their own and their teammates' progress.
• A mobile device can also access system data and functions.
• Companies may improve their performance and maximise their income by utilising various data, insights, and technologies.
• Easy to check out the interactive salary statements.
• View performance indicators such as quota attainment and tiers.
• Use artificial intelligence to estimate sales and payments.

Pros

• Gives you a flexible and unique compensation strategy.
• Easy tracking for sales and bonus pays.
• Provides comprehensive reports.
• It is a quick and accurate tool that offers a broad range of services.

Pricing: Please contact the sales team for pricing details.

G2 rating: 4.6/5

6. Xactly Incent

Xactly Incent is a software system that enables businesses to create, automate, and manage incentive payments ranging from simple to complicated and connect seller behaviour with revenue targets.

Some notable features of Xactly Incent are:

• It provides organisations with an easy-to-use map-based interface for creating and optimising balanced territories.
• It incorporates local sales managers' input into territory reallocation or redesigns with no implementation time.
• In order to build and customize recruiting profiles across regions and find the resources you need, it uses past performance data.
• Comparing the contribution margin on in-ramped versus ramped reps.
• The administration of daily modifications is automated by a sales performance management tool.
• Visualise and improve the alignment of the territory.
• It offers flexibility to handle personnel and territorial changes.
• Accurate forecasting and pipeline management are enhanced.
• It links to data flows, implements proprietary business logic, and leverages automated procedures to simplify sales data.

Pros

• The Convenience of the Implementation.
• Direct access to all significant integrations is given to the app.
• Fast processing time via in-memory computations ensures a smooth flow of commissions.
• Data authentication and security are fully supported.

Pricing: Please contact the sales team for pricing details.

G2 rating: 4.2/5

7. Oracle Sales Performance Management

Oracle Performance Management completely automates the performance monitoring process and gives managers, executives, and staff members useful, instant information into the advancement of workforce performance and alignment with organisational goals.

Some notable features of Oracle Sales Performance Management are:

• Increase seller productivity and transaction success by automating time-consuming data input and manual activities.
• It creates optimum quotas, maintains territory, aligns incentive programmes for sales, and develops sales plans to outperform the competition.
• Improves sales conversion rates by providing a comprehensive client profile.
• It gives sellers data-driven tools that enable them to make faster, more informed decisions.
• Increase sales rep efficiency by using subscription management and CPQ to help them sell more to existing clients.
• It gives more effective planning using current data.
• It boosts the partner experience and engagement.
• From any device, cooperatively sell and communicate with clients, regardless of where they are.

Pros

• Delivers a wide range of sales automation and analysis.
• Perfect tool for sales collaboration.
• Assist in increasing sales in existing positions.

Pricing: Please contact the sales team for pricing details.

G2 rating: 3.9/5

8. ElevateHQ

ElevateHQ is a software solution focused on sales commissions and intended for sales teams looking to expand. However, the software goes beyond just automating commission payments. ElevateHQ is designed to revolutionize the way companies utilize sales incentives to drive employee motivation.

Some notable features of ElevateHQ are:

• This tool can quickly automate your commission plan regardless of how complicated it is.
• It provides every aspect of your sales performance together.
• Users can effortlessly create and manage a commission plan.
• Without affecting the accuracy of profits computation, you can change teams, roll up structures, allocate new territories, or add or delete team members.
• With detailed insights and reports, it monitors and enhances your commission plans.
• Simple short-term commission schemes can be easily implemented as an experiment to determine whether you achieve better outcomes.
• Find and remove any unnecessary commissions to a salesperson or team across all of your commission activities with ease.
• Provides extensive insights about rep performance and guides them towards improved sales behaviour.

Pros

• Delivers monthly information on the incentive
• The Easiness of Operation
• The programme is highly user-friendly
• It is beneficial to keep track of all the essential monthly paying commissions.
• It offers current data for every task completed.

Pricing: It has 3 pricing editions.

• Basic - $25.00/Month
• Professional - $30.00/Month
• Enterprise - Starting at $40.00/Month
• Free trials are also offered.

G2 rating: 4.7/5

9. PaletteHQ

A tool that automates your sales commissions, eliminating errors and providing real-time commission accruals and pays visibility to your team. Additionally constructed to manage even the most complicated commission schemes.

Some notable features of PaletteHQ are:

• Create commission rules based on any CRM aspect and numerous CRM criteria.
• Brings complete transparency and real-time insight to the commissions enhances customer trust in the business.
• Quickly determine if a team is on track or not by monitoring their development in the compensation plans.
• Plan comparison and sales performance evaluation.
• Data encryption and security.
• Segregate commission computation from commission payout.
• Create and enhance commission plans.
• Functionality that allows salespeople to alter transaction parameters and price to determine their expected commission on a contract.

Pros

• Very user friendly and simple to use
• A safe and precise commission management tool
• Calculations are transparent and simple to grasp.
• Providing direct access to the team to see real-time commission.
• Several choices for customising your dashboard.
  

Pricing: It has 3 pricing editions.

• Starter (For smaller teams. All the benefits of Palette)
• Scale (Package built for bigger team,upto 100 seats)
• Enterprise (For teams of all size, tailor made solutions)
  

G2 rating: 4.9/5

10. Performio

Performio is an Incentive Compensation Management provider that promotes corporate performance through a platform designed to manage complexity, a team of focused specialists, and a track record of long-term worldwide success.

Some notable features of Performio are:

• Easily and automatically compute sales commissions.
• Create new compensation programmes and add additional participants on the fly.
• It is easy to create and modify designs because of the pre-built plan components.
• Connect to your sales data systems with ease to extract all of the information you want.
• Transparent reporting for all team members will enhance team performance.
• Sales representatives can verify commission payments and comprehend incentive programmes with the use of simple, understandable information.
• View performance across several teams, regions, or products to more effectively optimize results.
• It provides you with a streamlined dashboard for tracking and monitoring business quotas and goals.

Pros

• Automated sales commission audits will help you to stay on top of your budget.
• Correct data is provided.
• Increase Sales Operations and Compensation.
• Allows users to predict commission expenses and project their payments.
• Personalised branding for your business.

Pricing: Please contact the sales team for pricing details.

G2 rating: 4.3/5

11. QuotaPath

QuotaPath optimizes the commission process, making it easier for revenue teams to handle and track variable compensation. QuotaPath users obtain real-time visibility into commissions and predicted revenues, resulting in increased revenue and quota achievement.

Some notable features of QuotaPath are:

• To manage your commission programmes and payouts efficiently, you may instantly identify priority tasks and success metrics.
• QuotaPath gives representatives the ability to respond to their own commission-related questions.
• With real-time visibility into performance, remove sales compensation bottlenecks between Sales, RevOps, and Finance.
• Time is saved by improving month-end closing procedures.
• It enables reps to examine the financial results of their work from anywhere in the world along with their local currency.
• Make payment schedules, divide commissions into installments, and draw a clear line into each clawback.

Pros

• It is simple to construct and copy plans and pathways.
• To assess your prospective earnings, you may predict pipeline and closed contracts.
• The team may observe how changes to their forecast affect their pay.
• Customer support is remarkable.

Pricing: It has 3 pricing editions.

1. Trial (Free for 30 days and includes all paid services)
2. Startup ($30/Month For 1 seat)
3. Scale ($40/Month For 1 seat)

G2 rating: 4.7/5

12. SAP Commissions

SAP Commission is a cloud-based commission management system that assists businesses with commission-related tasks such as incentive compensation, commission monitoring, and reporting.

Some notable features of SAP Commissions are:

• It supports sophisticated commission structures, such as variable commission rates, bonuses, and incentives, with extensive commission calculating features.
• The tool automates commission procedures, saving time and effort in calculating and paying fees..
• It provides a customisable dashboard and reporting tool that gives organisations real-time insight over commission data, allowing them to analyse performance and spot patterns.
• It interfaces with other SAP products as well as third-party applications, allowing for smooth data interchange and collaboration.
• To safeguard the confidentiality and integrity of commission data, it includes comprehensive security measures such as user identification, access restrictions, and data encryption.
• It enables sales teams to access commission statements and performance metrics on the go by providing mobile access to commission data.
• It keeps a full record of commission payments and changes by keeping an audit trail of all commission-related transactions.

Pros

• A user-friendly tool that can also store huge data.
• Reports are transparent and easy to summarize.
• The platform can be modified.
• It can manage intricate computations.
• Customization of commission rules to support internal reporting.

Pricing: Please contact the sales team for pricing details.

G2 rating: 4.0/5

13. SmartWinnr

SmartWinnr is a platform that is designed to provide sales teams with comprehensive tools and features to enhance their performance. It helps sales teams stay current with product knowledge, ensures consistent messaging during customer interactions, and ultimately boosts sales.

Some notable features of SmartWinnr are:

• Make multiple leaderboards to keep the contest interesting and thrilling.
• There are ready-made themes available to shorten the time it takes to get via the internet.
• Through interaction with your CRM, data is immediately updated in SmartWinnr.
• With mobile app field teams can directly track how close they are to winning a competition.
• Send alerts and notifications to keep motivating the team.
• Managers can track progress by target and team and can focus closely on a certain salesman.
• You can run contests to make it more challenging.

Pros

• Easy to navigate.
• It is easy to create quizzes and contests.
• A powerful dashboard for administrators can be rephrased as a highly effective control panel for those in charge.
• Adaptation of user settings can be made flexible.
• Quickly adjust to meet the requirements.

Pricing: Please contact the sales team for pricing details.

G2 rating: 4.9/5

14. Forma.ai

Forma.ai enhances sales performance through precise compensation management and revenue optimization that is customized to fit your specific sales model and business needs.

Some notable features of Forma.ai are:

• Create a sales compensation plan with confidence, without relying on assumptions or spreadsheet software.
• With this data model, you don't have to deal with complicated rule creation, It allows you to concentrate on what matters most for your company.
• By providing real-time data, the platform accurately predicts 99% of compensation expenses, enabling you to optimize your spending.
• Inspire your sales team to exceed expectations.
• Provide sales reps with the visibility they desire regarding their earned commissions and potential earnings from their sales pipeline.
• Sales compensation data can be automated to produce customized reports in any format or time frame required.
• Optimize coverage of value and increase revenue.

Pros

• The tool is highly adaptable and can quickly adjust to the continuously changing environment.
• Capability to customize reporting to meet our requirements.
• Proactively detects issues and errors that we might have overlooked in the past.
• It decreases the amount of commission calculation work.
• The platform provides the sales team with live visibility and the capacity to predict their potential earnings.

Pricing: Formai.ai’s value based model has 3 pricing structures:

• Onboarding and implementation

The cost of onboarding and implementation is a one-time fee that is determined by evaluating the time and resources required for activities such as setting up data mapping, sales crediting, and customized workflows. These processes ensure a seamless experience for users.

• Incentive compensation management

The recurring fee for this edition depends on factors such as the number of users, plans, changes, and outputs that you need.

• Revenue monitoring and optimization

The pricing for each account is different and depends on factors such as the team structure, the number of roles, plans, payees, metric complexity, and data complexity/availability.

G2 rating: 4.9/5

15. Qobra

Qobra is a platform that offers the capability to automate various aspects of commission management. It provides you with the tools to calculate, share, and validate commissions in a more efficient manner, without relying on cumbersome spreadsheets.

Additionally, Qobra offers real-time visibility into your sales performance and commissions, which can motivate your sales team to achieve better results.

Some notable features of Qobra are:

• Automation of calculations is simple, allowing you to save time and concentrate on other essential aspects of your work.
• Offer the sales team transparency into their variable compensation.
• Obtain live visibility.
• It assists you in determining if your compensation plan is effectively driving revenue.
• Easy collaboration with teams from other departments.
• It empowers your sales reps to prioritize which deals to focus on for maximizing their performance.
• Enhance trust and retention within the sales team.
• Achieve precise results consistently.
• This tool removes the potential for errors that can occur in spreadsheets.

Pros

• It is highly accessible.
• The primary objective is very clear, and accelerators are already incorporated.
• If something is missing, administrators still have the option to manually make changes.
• On a deal-by-deal basis, you can precisely determine the amount of your bonus.

Pricing: Please contact the sales team for pricing details.

G2 rating: 4.7/5

16.Visdum

Visdum specializes in automating complex sales commission models for SaaS businesses of all sizes - early stage, SMB, and enterprise. The sales compensation software helps you build desirable compensation plans, with the flexibility to add SPIFFs, Bonuses, or Kickers. The platform fosters cross-team collaboration as it aligns Finance, Revenue Operations, and Sales teams to meet shared organizational goals.

Some notable features of Visdum are:

• Visdum comes with pre-existing comp plan templates for all sales roles that your team can plug-and-play.
• Automates even the most complex sales commission plans accurately, eliminating overpayments/underpayments in payouts and resolving disputes quickly. 
• Offers a flexible dashboard view to all admins - enabling easy commission calculation and smooth payouts. Visdum also enables leader dashboards for CEOs & CFOs to monitor overall performance.
• Has built-in gamification features allowing you to run sales contests, SPIFFs, kickers, and more to keep your sales team on their toes.
• Syncs deal data in real-time, allowing reps to see their commissions go up on the fly. 
• Comes with a “Deal Estimator” helping sales reps get real-time visibility into exactly how much more they can make by closing that additional deal.
• Helps your team monitor and forecast compensation cost of sales by measuring performance vs revenue achieved.

Pros

1. Seamless integration with CRM, ERP, Billing, HCIM, and HRIS systems for easy sales compensation management within a single platform.

‍2. Modern, intuitive design with independent as well as collaborative dashboards for Finance, RevOps, Sales Leaders, and reps.

‍3. Quick and effective live support for smooth onboarding and issue resolution.

‍4. Complete break-down of commission statements and real-time tracking of incentives.‍

Pricing:

Head to https://www.visdum.com/pricing or write to the sales team at info@visdum.com.

G2 Rating: 4.7/5

Conclusion

The world of sales compensation management has witnessed significant advancements in 2023, with the emergence of various cutting-edge software solutions. This blog post explored the top 20 sales compensation software options available, highlighting their features, benefits, and key differentiators.

These software solutions have revolutionized how sales teams manage and optimize their compensation plans, streamlining processes and driving improved performance. From comprehensive analytics and reporting tools to seamless integration with CRM systems, these software offerings provide sales organizations with the necessary tools to enhance sales effectiveness and drive revenue growth.