10 Best Commission Tracking Software Suited for Enterprise and SMEs
Discover the top commission tracking software suited for both SMEs and enterprises. Compare features, pricing & reviews to choose the best solution for your sales team.
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Commission tracking software automates the process of calculating and tracking sales and performance-based compensation. Primarily used in industries like sales, insurance, real estate, and finance, these platforms usually include commission tracking, sales forecasting, and payment processing.
The market for automated commission tracking solutions is expanding among SMEs as well. One can say that the awareness of commission tracking software for small business advantages is increasing.
Therefore, this blog highlights the top 10 commission tracking software for small businesses as well as enterprises. We will explore their key features, benefits of certain tools, and how they can transform commission management for you. If your ultimate goal is to boost sales team morale and performance with a commission tracker software, then this blog will help you make an informed decision.
Key features to look for in commission tracking software
A booming fintech company implemented Compass, a commission tracking system, to improve its sales operations. This system enables real-time tracking of sales representatives' commissions, ensuring both accuracy and transparency in compensation. It has streamlined the commission calculation process and motivated sales teams by offering immediate insights into their earnings.
As a result, the company saw a 36% increase in payout adoption and a 34% increase in incentive program qualifiers within 90 days. Therefore, a well-chosen commission tracking software can optimize and enhance the sales commission process. To select the right tool, consider the following features.
- Automated calculations: To guarantee precision, economize time, and minimize human errors, automate commission computations.
- Customizable commission structures: Able to make commission plans that are adaptable to different team requirements and sales tactics.
- Integration with CRM and accounting software: Integration possibility with your accounting and CRM systems with ease for a streamlined workflow.
- Real-time reporting and analytics: Features for up-to-date reports and analytics to monitor sales performance and make informed decisions.
- User-friendly interface: Having an interface that is simple to use, intuitive, and requires little training to increase user adoption.
- Scalability: Select software that can scale with your company and change to meet evolving demands and higher sales volumes.
Factors to consider while choosing a sales commission tracking software
- Quota management
- Performance analysis
- Insights and transparency
- Commission plan administration
- Commission accounting
- Cross-functional reporting
Now that we have discussed the features and factors that you must consider while choosing a sales commission tracking software, let us share the list selected software suited for both enterprises and SMBs.
Top 10 commission tracking software for your business
Product | Key Features | Pricing | G2 Ratings |
Compass by Giift | Sales & Commission gamification, Performance management | Not Disclosed | 4.7/5 |
Performio | Sales components, & Auditing
| Not Disclosed | 4.2/5 |
Spiff | Commission estimator, Team management | Starts from $75.00/ month
| 4.7/5 |
Everstage | Sales commission automation | Not Disclosed | 4.8/5 |
QCommission | Incentive management | Starts from $15.00/ month
| 4.6/5 |
Xactly Incent | Commission forecasting | Starts from $1.00 month
| 4.2/5 |
Varicent | Sales commission management | Not Disclosed | 4.5/5 |
Commissionly | Incentive plan, design | Starts from $33.00/ month
| 4.8/5 |
QuotaPath | Automated commission tracking | Starts from $25.00/ month
| 4.7/5 |
1. Compass by Giift
Compass, one of the best commission tracking software, is a robust commission management solution for sales teams. It provides smooth CRM system integration, automatic computations, and real-time performance tracking. Compass is perfect for companies that want to increase efficiency and transparency because it makes it easier for managers and salespeople to remain on top of goals and boost output as a whole.
Key features
- Real-time tracking and updates
- Regulatory compliance monitoring
- Employee performance tracking against targets
- Seamless integration with CRM systems
G2 Ratings: 4.7/5
Capterra Ratings: 4.5/5
2. Performio
Performio, one of the sales commission software for small business, is a flexible incentive compensation software suitable for companies of any size. Its meticulous analytics, customisable structures, and automated commission calculations make it an excellent option for handling complicated compensation programs. Performio seeks to improve sales success by streamlining commission procedures and offering useful data.
Key features
- Automated commission calculations
- Customizable commission structures
- Detailed reporting and analytics
- Highly customizable and user-friendly interface
- Robust reporting capabilities
G2 Ratings: 4.2/5
Capterra Ratings: 4.3/5
3. Spiff
Spiff is an easy-to-use and transparent commission tracking software. It easily interfaces with different CRM systems, providing real-time visibility into commission computations and sales pipelines. Businesses may increase sales success, increase transparency, and guarantee precise and timely payouts with the help of Spiff.
Key features
- Transparent commission tracking
- Integration with multiple CRM systems
- Real-time visibility of sales pipeline
G2 Ratings: 4.7/5
Capterra Ratings: 4.7/5
4. Everstage
For businesses that are expanding quickly, Everstage offers a commission tracking solution that is both gamified and easy to use. Everstage makes incentive administration easier with its real-time performance analytics and versatile integration options, which also increase sales productivity. It is intended to increase return on investment by enhancing commission tracking's transparency and appeal.
Key features
- Real-time commission tracking
- Gamified incentive experience
- Flexible CRM integration
G2 Rating: 4.8/5
Capterra Rating: 4.9/5
5. CaptivateIQ
CaptivateIQ, one of the best best commission management platform for SMEs, offers a highly adaptable commission tracking platform that simplifies complex compensation plans. With its logic-based modeling approach and real-time commission insights, CaptivateIQ empowers businesses to manage and motivate their sales teams effectively. It is known for its user-friendly interface and robust customization capabilities.
Key features
- Logic-based modeling for workflows
- Real-time commission tracking
- User-friendly interface
G2 rating: 4.7/5
Capterra rating: 4.8/5
6. QCommission
With customisable commission rules and extensive reporting, QCommission is a feature-rich commission management software. Adaptable to a range of sectors, QCommission, suitable for sales commission software for small business, assists companies in automating and optimising their commission procedures, guaranteeing precise and prompt payouts while offering insightful data on sales success.
Key features
- Comprehensive commission management
- Detailed reporting and analytics
- Customizable commission rules
G2 rating: 4.6/5
Capterra rating: 4.4/5
7. Xactly Incent
A commission monitoring system powered by artificial intelligence, Xactly Incent provides real-time reporting and advanced analytics. It assists companies of all sizes in managing complex compensation schemes and guaranteeing compliance because it is scalable. Xactly Incent uses automated procedures and data-driven insights to increase sales effectiveness.
Key features
- AI-driven analytics
- Real-time visibility and reporting
- Compliance tracking
- Scalable for large teams
G2 rating: 4.2/5
Capterra rating: 4.2/5
8. Varicent
Real-time analytics and precise compensation administration are combined in Varicent, making it a powerful commission management software. Businesses will find Varicent's scalable and adaptable tools ideal for managing incentives, boosting sales, and guaranteeing precise payouts. Businesses are assisted in making wise decisions by its automated insights.
Key features
- Advanced compensation management
- Real-time analytics
- Insights and Improve Forecasting
- Robust and scalable
G2 rating: 4.5/5
Capterra rating: 5/5
9. Commissionly
A cloud-based commission management software Commissionly is intended for small to medium-sized enterprises. It provides simple setup, real-time tracking, and smooth CRM system interaction. Commissionly is an excellent option for companies wishing to simplify their commission procedures because of its priority on affordability and user-friendliness.
Key features
- Cloud-based commission management
- Integration with major CRM systems
- Real-time tracking and reporting
- Easy to use and set up
G2 rating: 4.8/5
Capterra rating: 4.9/5
10. QuotaPath
A simple and easy-to-use commission tracking tool, QuotaPath connects with most major CRM systems. Another best commission management platform for SMEs, Quotapath helps sales teams better track and manage their commissions by providing them with real-time information and comprehensive statistics. QuotaPath seeks to improve commission tracking's visibility and accuracy to promote efficiency and sales growth.
Key features
- Transparent commission tracking
- Integration with major CRM systems
- Detailed analytics and reporting
G2 rating: 4.7/5
Capterra rating: 4.5/5
Concluding thoughts
For firms looking to increase productivity and optimize their sales compensation procedures, selecting the appropriate commission-tracking software is essential.
Every software mentioned above has different features, benefits, and drawbacks. You may improve the transparency and effectiveness of your commission management by weighing the options and selecting the one that best suits your company's requirements.
By integrating Compass into your commission management system, you can significantly enhance transparency, streamline the tracking process, and boost overall efficiency. Weighing your options and selecting the best solution for your company’s unique needs will ultimately lead to better performance and a more motivated workforce. Book a demo call with the specialists at Compass now!
FAQs
1. What is commission software?
Commission software refers to a spеcializеd digital tool or platform dеsignеd to strеamlinе and automatе thе procеss of calculating, tracking, and managing salеs commissions or incеntivеs within an organization.
It is commonly used by businеssеs that еmploy a salеsforcе or distribution nеtwork, whеrе individuals or teams rеcеivе compensation based on thеir salеs pеrformancе.
2. What is the best way to track commissions?
The best way to track commissions depends on the complexity of the commission plan and the volume of deals. Manual tracking is suitable for very simple plans with few deals, but for more complex scenarios, using spreadsheets or dedicated sales commission tracking software like Compass offers a modern, automated solution, while Method CRM syncs with accounting software.
3. How do you record sales commissions?
To record sales commissions in your accounting system, you need to account for the amount of sales commissions earned, the date they were earned, the expense account to which they should be charged, and the liability account to which the commissions should be accrued. You'll need to create a journal entry to document the sales commissions expense and the liability for commissions that have not yet been paid.
4. How do you measure commission?
You can measure sales commission effectiveness by monitoring sales transactions and commission calculations. Commission payouts can also indicate team performance, and commission tools provide customizable dashboards and reports for insights into commission performance, sales trends, and payout distributions.
