Incentive and Compensation Management is a key sales strategic approach to use incentives and commission as motivation tools to make sales reps achieve their business goals. They are incentivized to align their behavior to meet business objectives. This helps to improve the efficiency of the sales team. Large organizations have complex product bundles, mix and pricing structure, so ICM software helps companies to manage this complex process.
Learn what is Incentive and Compensation Management, why it is important for sales leaders and how to choose the right ICM software.
Updated By Cuspera
Last updated: Mar 30, 2022
Automate Your Sales Incentive Program
Sales Cookie is a cloud-based Sales Commission Management platform for sales, sales admin, sales rep , sales compliance teams , Payroll managers to increase revenue by focussing more on sales.
It helps teams in automating the sales commissions process and saves time and focus more on sales, It offers interactive wizard for designing incentive programs and currency conversion, exchange rate lookups, and currency symbol translations.
It comes with built in automation to automate sales commission process.
Vendor: Sales Cookie
Company Size: 1-10
HQ Location: 1100 106th AVE NE, Bellevue, WA 98004, US
Sales commissions, simplified. The next generation sales commissions platform
CaptivateIQ is a sales commission tracking software that helps to bring teams together and empower teams to run commissions clear and accurate. It helps to improve visibility and increase sales and revenue.
CaptivateIQ helps to connect all the data sources under one roof to power real-time calculations, build, preview, and launch any commission plan to get the most out of every team and share customized reports that are easy to understand and motivative.
Its features include break free from the constraints and switch to the most flexible solution on the market, track individual performance across teams for greater visibility and accountability, share a clear breakdown of results and earnings that encourage the right actions and settle pay inquiries side by side with commissions data for fast and easy resolutions.
Vendor: CaptivateIQ
HQ Location: 480 2nd St, 100, San Francisco, California 94107, US
Sales Commission Software & Commission Tracker
Spiff is a cloud based sales commission and incentive compensation platform for sales ops, marketing reps and finance teams to save time, increase sales and productivity.
Spiff helps teams to handle most intricate commission structures and nuances. It provides personalized, real-time commission portals to automatically calculate commissions and helps in payroll reports.
Spiff uses machine learning for handling most intricate commission. It comes with plan designer, flexible rules, building blocks and easy access to data for calculating commissions.
Vendor: Spiff
Company Size: 1-10
HQ Location: Sandy, Utah
Financials: Seed
Sales management software to easily and quickly calculate sales commissions.
Performio is a Sales Commission Management software used by the corporates to quickly compute the commissions and generate insight from the data for defining the sales strategies.
It primarily offers easy to manage commission calculations and scheduling, Incentive Programs, leaderboard, compensation management and actionable insights. The upper management can look into the data-backed insights and make evidence-based decisions for effective team management.
The users have the flexibility to configure the formulas and the credit rules in the backend to allow for automated handling of complex calculation in no time without errors. Performio also improves transparency by reporting the commission regularly on even smartphones devices.
I used to pull out my hair with the complicated and time-intensive ways of doing calculations. Now there’s so much less stress with Performio. I feel confident in the system because it makes such a difference to our salespeople, they can focus on making sales, not figuring out if they are paid corr...ectly.
Nicole Horan
Finance Business Partner - Retail Channels
Vodafone
Vendor: Performio
Company Size: 11-50
HQ Location: Culver City, California
Financials: Private
affordable solution that can be tailored to meet your specific needs, backed by valuable business intelligence
Commissionly is a cloud based automated sales commission software designed to help businesses manage commissions payment. The solution can be implemented in multiple industries including Medical, Fintech, Insurance services, Recruitment, and Financial services.
The primary features of this tool includes varied commission structures, multi-currency support, sales splits to compute commission at product level, manager overrides, adjustments and clawbacks, commission payout based on payment received from customers and matrix commissions. The dashboard and reporting functionality helps with criteria filtering and lookup tables features alongside a view on metrics like draws, recurring commissions, unpaid commissions and delayed payment.
The platform offers integration with multiple tools like Quickbooks, Hubspot, Xero,Sage and Salesforce. It is a fully customisable platform and helps save time and money, eliminates errors and improve productivity.
Vendor: Commissionly
Company Size: 11-50
Financials: Seed
Sales commission management software fully automates sales incentive and commission calculations.
Core Commissions is a commission management software dedicated to simplifying the sales commission process. It fully automates sales incentive and commission calculations. The tools are intuitive, cost-effective and capable of handling even the most complex commission rules. Users process commissions and generate individualized reports with a few button clicks.
The software provides robust tools that fully automate every task and more. It imports data from multiple sources. Convert reports in any form. Relate information across different platforms. Apply complex rules criteria. Build individualized and executive reports. Instantly access metrics and analytics. Integrate commissions with CRM, ERP, or other financial applications.
Some of its features include automatically charting each step of the process flow. View the sequence of calculations as they happen. Review results from each step of a complex commission calculation. Delivers library of easily customized reports. Gives users individual access to web reporting module and more.
Vendor: Core Commissions
Company Size: 11-50
HQ Location: 915 Broadway Vancouver, WA 98660
Compensation Management Software for Large Enterprises
beqom is a Total Compensation cloud solution that manages all forms of compensation and rewards on one unified platform, without compromise, regardless of complexity or scale. It’s designed for large, global enterprises – the Global 5000 – that have sophisticated compensation needs that exceed the capabilities of their core HR system, and/or have complex incentive compensation.
beqom addresses all aspects of compensation, including salary review, bonus, long-term incentives, commissions, benefits, non-cash rewards and all key drivers towards employee performance and sales Performance.
The software has built-in AI and ML capabilities that help optimize the results, leveraging past performance data and attributes.
We began partnering with beqom almost five years ago in response to growing demand from global businesses for a comprehensive compensation management solution. With beqom’s flexible cloud platform, GGS delivers no-compromise Total Reward strategies for our customers, driving greater efficiency and ...competitiveness, with a 100% success rate.We began partnering with beqom almost five years ago in response to growing demand from global businesses for a comprehensive compensation management solution. With beqom's flexible cloud platform, GGS delivers no-compromise Total Reward strategies for our customers, driving greater efficiency and competitiveness, with a 100% success rate.
Bartek Podolski
Co-Founder & CEO
GGS IT Consulting
Vendor: beqom
Company Size: 101-250
HQ Location: Nyon, Vaud
Financials: Private
Sales Compensation Management for Better Sales Execution and Operational Efficiency
Iconixx is a cloud-based sales performance management and incentive platform used by organizations to enhance sales productivity, automate commissions plan and improve overall profitability.
It is primarily used for compensation planning, commission calculation and payments, visualization for sales and finance teams, modelling and forecasting for robust sales strategies, automation of workflow, and governance and reporting.
Iconixx uses advanced analytics and is scalable to handle heavy volume of transactions for any organization. The tool provides dependable forecasting and powerful quotes which helps optimize commission and incentive processes within an organization.
We are pleased to be leveraging the benefits of Iconixx. The Iconixx team has earned our confidence by presenting us with a quality tool to manage our incentive compensation strategy.Tim Vuolo
VP of Human Resources
Scholastic Book Fairs
Vendor: Iconixx
Company Size: 101-250
HQ Location: 3420 Executive Center Drive, Suite 250, Austin, TX 78731, US
Financials: Private
A powerful, flexible sales commission software
QCommission is a sales commission software that help companies with computing the sales commission in a quick and automated way. All the information related to commission payout amounts can be accessed via a web based dashboard.
The primary features of this platform includes Calendar for commission processing schedule, details for Payee, sales organization & customer, Commission and Bonus Calculations, Processing Schedule, Transactions Adjustments & Events, Transaction Amounts, Crediting Transactions, and Incentives.
The platform offers easy integration with other tools like QuickBooks, MicroSoft Dynamics, Sage, SalesForce.com and SugarCRM, helping onboard all the related sales details. It can also be operated with spreadsheets, delimited and fixed length files.
Vendor: Cellarstone
Company Size: 51-100
HQ Location: Half Moon Bay, California, US
an easy to use sales commission application that connects to QuickBooks and QuickBooks Online
Easy-Commission is a sales commission application designed for sales teams to help produce and view commission statements. It is a web based platform that helps streamline commission calculation and payout, and improves operational efficiency.
The software provides multiple features with respect to commission functionality including Commission Schedule, Split Commissions, Split Credit and Override, Flat Commissions, Recurring Commissions, Recurring Transactions, Customer age based commissions, Draw Calculation, and Multiple Payout Frequency. Apart from this, it also offers functionality like Report Designer, SQL quey tool, Page Designer, Import and export, statement designer, CRM console, country wise volume discounts and role based security.
The sales team enters data and commision is computed automatically using pre-defined calculations. The tool allows basic integration with QuickBooks and Xero.
Vendor: Cellarstone
Company Size: 51-100
HQ Location: Half Moon Bay, California, US
Incentive and compensation is the strategy that businesses use to increase their sales by motivating their sales team to earn more by aligning themselves to the business objectives.
Incentive is typically the variable part of the compensation and is tuned to motivate the sales team to hit certain milestones to get more payout. The main objectives achieved by a business via incentivizing the sales team are:
A few of the companies work with only variable pay, which is also called sales commission, where the payout to the sales rep is a function of sales made.
Incentive management gets fairly complex especially in large sales organizations with complex product bundles and plans. Sales management struggles to ensure goals are met and also keep the teams motivated with timely payouts. Traditional methods of using papers or spreadsheets are error-prone and do not help in accurate and timely reporting.
Businesses today are a lot more agile and complex and need an incentive management tool that can keep them nimble, with data ready on their fingertips to course correct the steer at will. These tools also help managers to design and implement plans around incentives and commissions to improve win rates and quota attainment.
Tag cloud above shows the popularity of the business processes implemented by ICM tools, whereas the below three are the most popular ones:
It allows sales managers to create incentive management plans for salespeople, so that they can track their quotas and incentives in real-time, in one place. One can also create a workflow to handle disputes, manage over-rides and automates the compensation process. It forecasts the budget and gives performance reports for the sales managers. Some tools enable territory and quota management by aligning incentives accordingly.
It gives direct visibility into how earnings/incentives are related to performance bringing in transparency to the compensation process. The idea behind these tools is to keep the incentives within the margins and this helps to maximize sales revenue for the organization.
Business problems solved by these tools include
Using ICM, one can create automated processes using business-friendly wizards and schedule the processes to run at the right intervals for your organization. Information sharing becomes easy through hierarchies managed by rules and workflows to determine access which provides the ability to email individuals or teams.
ICM software allows one to create rules and automatically update data tables, therefore results are consistent and easy to reconcile. Data can be refreshed often and details can be shared so salespeople do not have to keep manually checking on results or calling the Administrator with questions.
ICM lets you work in conjunction with HR and the Sales team to tweak plans, quotas, or territories. Together, the team can stay aligned to business objectives. Account Executives and Managers particularly can be on top of their sales targets thanks to dashboards with visualizations for fast feedback and extra motivation.
By using ICM, not only can one calculate commissions accurately and efficiently, but also get audit capabilities satisfying regulatory and compliance concerns. In addition, with proper design one can be sure that all reporting uses the same information. Consistent, accurate and transparent results reduce the legal risk.
To build a successful sales team, one needs to build a motivational and effective incentive scheme. This scheme must be well balanced so as to reward an employee’s performance, and the results obtained, in a fair and proportional way. ICM tools help one achieve this consistently at scale by engaging all the stakeholders through the sales journey. A good ICM tool will greatly help in driving the right behavioral changes in the sales team.
Nothing boosts your sales team's excitement and energy more quickly and reliably than an incentive. After all, most salespeople are born competitors -- adding a compelling reward to the mix makes them even more enthusiastic.
ICM tools are designed to be used by all members of the sales team and each of the stakeholders have different benefits by using the tool as mentioned here:
ICM tools help Sales leadership to plan the mix of the products and plans to be sold and create the necessary budgets so as to hit the organization’s goal. Some of the tools have analytics and forecasting abilities to help decide the incentive structure.
Moving away from manual commission processing, better reporting, better visibility to the field sales, less shadow accounting and most importantly accuracy. Our sales teams have improved their attainments YoY, to bring higher revenue of over 100m
Most ICM tools have dashboards to monitor the performance of their sales team and keep them engaged and motivated. These dashboards help managers ensure that they achieve their targets and not overshoot their budgets too.
Enabling Sales reps - Sales reps have more details and information on their commissions being paid. It saves us time in not having to answer tons of questions because they now have the information.
Certain ICM tools also have apps that help the team members, especially sales rep track their targets, incentives, and payouts. Such apps help the team’s motivation and also reinforce their trust in the system.
Makes it easy to use to see the commission amount coming to each individual on a bi weekly basis. Easy to know what needs to be corrected each time to improve ourselves
An important feature that ICM software needs to support is having robust analytics and forecasting features, as it helps the sales teams to be prepared and on top of their targets.
Reporting is also a must, with the ability to create custom reports for the leadership team, finance, and admin teams, who look for different aspects of the current state of the sales engine.
Current versions of the software are a bit light in the reporting and analytics space, requiring a user to have advanced knowledge of Crystal or Webbie reporting. Newer version upcoming hopefully remedies this with more configurable reporting options; allowing the most basic of users to pull data out of the system!
Good ICM tools have dashboards which are built specifically for the leadership team, sales rep and sales manager to periodically get real-time status of their performance. Good robust notification and alerts also help keep the team engaged and motivated.
ICM tools deal with lots of data, which are business critical and with deep insights on the performance of the company. Therefore a lot of intelligence is locked within these tools and the businesses are actively looking for newer technologies such as AI and big data to unlock the secrets in this data.
Though it’s very nascent, the newer breed of ICM tools are coming with deep analytics and AI to predict and forecast more accurate results.
A related space where the data in ICM tools are having an impact is in a related area of “Sales performance management” (SPM) where incentive, performance, and coaching are tied together using AI and technologies such as language processing and transcription.
The greatest immediate impact today of AI and its best uses lies in helping organizations change the dynamic from one-to-many rewards to highly personal, individualized rewards.
Selecting the right-fit ICM tool for your business needs you to understand the underlying problem plaguing your current system and then choose a tool that has the best features to solve your need. You can also try cuspera.com, where our AI advisor will help you find the right fit based on your requirements.
Cloud variants of ICM tools are popular with organizations. They come with a variety of flexible plans which are suited for organizations of different sizes. Cloud deployments are easy to manage without administration hassles. But some large organizations might still prefer on-premise deployments due to enhanced security and data governance requirements.
The software should support extensive reports and dashboards as it is important for sales managers and leaders. It should provide easy to use tools to create and modify incentive plans.
Compensation Management software should integrate with CRM and payroll systems. It is common for Sales Performance Management systems to have compensation modules built into them. If not, they should integrate with the organization's SPM tools.
An important thing to keep in mind is integrations. As most of the customer and deal data are stored in the CRM, ensure you choose a tool that integrates easily with your CRM. Many of these projects get delayed due to poor planning of the integration and data migration efforts.
Similarly, if you are using any other analytics or BI tools in the company to generate your analytics and insights, you would need to ensure the ICM tool can either generate the reports in the format that suits you or are able to export data in the format that is acceptable to your existing tool.
Get AI-generated right fit software based on peer experience in just a minute.
Automate Your Sales Incentive Program
Sales Cookie is a cloud-based Sales Commission Management platform for sales, sales admin, sales rep , sales compliance teams , Payroll managers to increase revenue by focussing more on sales.
Vendor: Sales Cookie
Company Size: 1-10
HQ Location: 1100 106th AVE NE, Bellevue, WA 98004, US
Sales commissions, simplified. The next generation sales commissions platform
CaptivateIQ is a sales commission tracking software that helps to bring teams together and empower teams to run commissions clear and accurate. It helps to improve visibility and increase sales and revenue.
Vendor: CaptivateIQ
HQ Location: 480 2nd St, 100, San Francisco, California 94107, US
Sales Commission Software & Commission Tracker
Spiff is a cloud based sales commission and incentive compensation platform for sales ops, marketing reps and finance teams to save time, increase sales and productivity.
Vendor: Spiff
Company Size: 1-10
HQ Location: Sandy, Utah
Financials: Seed
Sales management software to easily and quickly calculate sales commissions.
Performio is a Sales Commission Management software used by the corporates to quickly compute the commissions and generate insight from the data for defining the sales strategies.
Vendor: Performio
Company Size: 11-50
HQ Location: Culver City, California
Financials: Private
affordable solution that can be tailored to meet your specific needs, backed by valuable business intelligence
Commissionly is a cloud based automated sales commission software designed to help businesses manage commissions payment. The solution can be implemented in multiple industries including Medical, Fintech, Insurance services, Recruitment, and Financial services.
Vendor: Commissionly
Company Size: 11-50
Financials: Seed
Sales commission management software fully automates sales incentive and commission calculations.
Core Commissions is a commission management software dedicated to simplifying the sales commission process. It fully automates sales incentive and commission calculations. The tools are intuitive, cost-effective and capable of handling even the most complex commission rules. Users process commissions and generate individualized reports with a few button clicks.
Vendor: Core Commissions
Company Size: 11-50
HQ Location: 915 Broadway Vancouver, WA 98660
Compensation Management Software for Large Enterprises
beqom is a Total Compensation cloud solution that manages all forms of compensation and rewards on one unified platform, without compromise, regardless of complexity or scale. It’s designed for large, global enterprises – the Global 5000 – that have sophisticated compensation needs that exceed the capabilities of their core HR system, and/or have complex incentive compensation.
Vendor: beqom
Company Size: 101-250
HQ Location: Nyon, Vaud
Financials: Private
Sales Compensation Management for Better Sales Execution and Operational Efficiency
Iconixx is a cloud-based sales performance management and incentive platform used by organizations to enhance sales productivity, automate commissions plan and improve overall profitability.
Vendor: Iconixx
Company Size: 101-250
HQ Location: 3420 Executive Center Drive, Suite 250, Austin, TX 78731, US
Financials: Private
A powerful, flexible sales commission software
QCommission is a sales commission software that help companies with computing the sales commission in a quick and automated way. All the information related to commission payout amounts can be accessed via a web based dashboard.
Vendor: Cellarstone
Company Size: 51-100
HQ Location: Half Moon Bay, California, US
an easy to use sales commission application that connects to QuickBooks and QuickBooks Online
Easy-Commission is a sales commission application designed for sales teams to help produce and view commission statements. It is a web based platform that helps streamline commission calculation and payout, and improves operational efficiency.
Vendor: Cellarstone
Company Size: 51-100
HQ Location: Half Moon Bay, California, US
help businesses take control of their mission-critical processes
Vistex helps to manage the full life cycle of Go-to-Market programs through strategy, software, implementation, execution, and analytics. It provides solutions for product design, manufacturing and supply chain, and marketing services. Vistex implements its platform to the wholesale distribution, consumer and commercial products, pharmaceutical, industrial machinery, electronics, retail, media, and services sectors.
Vendor: Vistex
Company Size: 1001-5000
Financials: Private
Driving Sales Performance engaged, and motivated sales teams is key to the success of your business
inlogic.ca is a sales performance management platform that empowers the customers by offering the robustness and configuration capabilities to typically see in enterprise Sales Performance Management systems without huge upfront capital, internal resource demands, and ongoing costs. It helps to increase sales and revenue and improve ROI.
Vendor: inlogic.ca
HQ Location: CA
Simplified sales compensation and automation for captive insurance agents
VisualBonus is a sales motivation and bonus tracking platform for captive insurance agents who are looking to grow. It helps to improve ROI and increase sales and revenue.
Vendor: Visualbonus
HQ Location: 1158 Walnut Ave, Bohemia, AL, 11716, United States
Sales Compensation and Commission Tracking Software
QuotaPath is a sales commission tracking software that helps sales teams design fully customizable compensation plans, forecast commissions in real-time, and surface insights in one easy-to-use dashboard. It helps to track records, manage compensation with ease, and pay reps correctly and balance the books.
Vendor: QuotaPath
Company Size: 1-10
HQ Location: QuotaPath, Philadelphia, PA 19102, US
Incentive Compensation Management Software for complex enterprises in driving sales behaviors
Xactly Incent is a cloud-based Sales Performance Management software for sales, sales operation teams to deliver incentives, increase operational efficiencies and improve productivity.
Vendor: Xactly
Founded: 2005
Company Size: 501-1000
HQ Location: 505 S. Market St., San Jose, CA 95113
Financials: M&A
Process Millions Of Sales Transactions Daily
Glocent is a Compensation Management Software that explores the incentive possibilities. It helps to enhance customer relationships and launch new products.
Vendor: Glocent
HQ Location: 3567 Pleasant View Dr., Castle Rock, CO 80108, USA
Maximize sales performance to drive profitable behaviors and grow revenue.
SAP Commissions is an incentive compensation management software that provides an end-to-end configurable solution that manages the entire incentive compensation process from sales orders to pay for the direct and indirect sales force. It is designed to help businesses create, optimize, and manage compensation plans to enhance sales, employee engagement, and revenue. It helps to improve selling behavior, increase incentive compensation ROI, reduce risk, payment errors, and comp disputes, shape behavior, and increase revenue.
Vendor: SAP
Founded: 1972
Company Size: 10001+
HQ Location: 3999 West Chester Pike, Newtown Square, PA 19073, USA
Financials: IPO
Sales Commission Management Software
NetCommissions helps companies improve sales force productivity by providing market-leading online sales commission management solutions that ensure performance feedback to the sales organization that is timely, accurate and relevant.
Vendor: NetCommissions
Company Size: 11-50
HQ Location: 599 North Ave. Suite 8, Second Floor Wakefield, MA 01880
Financials: Private
A Full HR Platform for the Full Employee Experience - CheckWriters
CheckWriters an HR tool as mobile and reliable as the team. It helps to make payroll easy and engaging, provides tools to recruit, screen, and onboard the best candidates for your organization and so on.
Vendor: CheckWriters
Company Size: 101-250
HQ Location: 46 Round Hill Rd, Northampton, Massachusetts 01060, US
Design and calculate powerful incentive programs for any combination of commissions, rebates, royalties
IncentX is a cloud-based Incentive management platform that is scalable, providing tools for managing incentive programs such as commissions, rebates, royalties, billbacks, and chargebacks. It can be deployed in businesses of all sizes across industries such as Automotive, High Tech, Manufacturing, Consumer Products and more.
Vendor: incentX
Company Size: 11-50
HQ Location: 101 Crawfords Corner Rd, Holmdel, New Jersey 07733, US
Sales Incentive Compensation management platform to grow the business profitably
Vendor: Herald Logic
Company Size: 11-50
HQ Location: Vikhroli West, Mumbai, Maharashtra 400079
Measure Plan and Performance Data Across Teams and Industry to proactively monitor and build incentive compensation programs.
Xactly Benchmarking is a sales performance tool that helps to benchmark sales plan and performance data across teams and industry. It monitors and builds incentive compensation programs, compares performance in teams and also ensures incentive programs retain top performers, align sales behavior and reduce undesired rep attrition. It helps to increase sales and revenue and improve efficiency.
Vendor: Xactly
Founded: 2005
Company Size: 501-1000
HQ Location: 505 S. Market St., San Jose, CA 95113
Financials: M&A
Sales Performance Management & Compensation software
Optymyze is an integrated sales performance and operations management software used by the organizations to transform sales operations goals, strategy and compensation management.
Vendor: Optymyze
Company Size: 501-1000
HQ Location: Claymont, Delaware US
Financials: Private
Sales Performance Management Solutions | IBM
IBM SPM suite of products helps organizations to build and automate sales incentive compensation plans, manage sales territories and quota and get advanced sales analytics and insight into sales operations.
Vendor: IBM
Founded: 1911
Company Size: 10001+
HQ Location: 1, New Orchard Road Armonk New York 10504-1722 USA
Financials: IPO
