Sales Compensation
Enhance Your Profitability with Effective Sales Compensation
Available June 26th, 2022, with Hurricane 9.0 release.
Contact usSales Compensation by Pricefx
A solution that allows administrators to manage sales compensation plans effectively, helps sales professionals attain quota by making it visible in real-time, and reduces compensation overpayments.
Register for our upcoming webinar
How to Make Sales Compensation More Effective with Pricefx
In this webinar, we will share:
- 4 tips on how to make your sales compensation more effective
- Why Pricefx launched a Sales Compensation capability
- Short demo of the new capability
Solve Critical Challenges
Whether you're a sales administrator, a finance professional, a sales leader, or an HR professional, resolving critical challenges in your sales compensation activation can provide profit advantages.
A large amount of time is spent on managing complex compensation plans for a large sales organization, and reporting on results on a regular basis.
Save time implementing compensation plans and choosing from pre defined schemas, plus get access to dashboards with aggregated views for sales leaders, administrators, and agents.
Managing compensation manually leads to errors and can be subject to data integrity.
Error-free calculations result in fewer disputes or inquiries from the sales team and better compliance.
Up to 5% of overpayments annually for compensation.
Lower chance of errors leading to lower overpayments.
No visibility into compensation leads to a lack of trust and therefore a decrease in the motivation of your sales team.
Full visibility into the compensation level at the time of quote, leading to higher quota attainment and improved company results.
Little to no alignment between different functions (sales, pricing, marketing) leads to compensation plans that don't follow the company's objectives.
One source of truth bridging the gap between the pricing and sales team and working together to achieve the company's objectives.
Why are Sales Performance Solutions top of mind
Based on the Gartner® Market Guide for Sales Performance Management, Melissa Hilbert, 8 March 2021:
Key benefits
Operations
Finance
Sales
Operations are responsible for the setup, management, and execution of compensation plans.
With Sales Compensation, they can:
- Simplify compensations planning, setup, and execution
- Handle any enquiries and/or disputes effectively
- Reduce time spent on payouts
- Reduce errors and overpayments
Finance oversees business contributions of company sales activities including compensations.
With Sales Compensation, they can:
- Improve visibility of compensation plans contributions
- Reduce compensation overpayments
- Increase effectiveness of compensation plans
- Oversee their alignment with the overall corporate strategy
Compensation plans are a key driver of sales efforts, from both sales agents and sales leaders perspective.
With Sales Compensation, they can:
- Improve the impact of compensation plans on sales results
- Provide sales agents with visibility & trust in their payoffs
- Create compensation plans specific to certain products or customers
- Increase performance visibility to sales leaders
- Align sales efforts with corporate strategy
Key Features
Define compensation plans
Choose your seller or seller group, involved products, and/or customers, and select your preferred compensation type from pre-defined or custom ones. Simulate expected results.
Approve and communicate compensation agreements
Approve agreements through approval workflows. Export final agreements and communicate them by email or messages on Pricefx.
Make compensations visible
Calculate compensation in real-time and make them visible to sales agents in Quotes. Drive sales results and avoid any doubts on compensation amount in every situation.
Keep track of agreements
Whether you're a sales leader or sales agent, you can keep track of your compensation agreements payouts. You can also view the performance of your agreement over time on a dashboard.
Manage disputes and other enquiries
Handle individual inquiries related to compensation amounts and apply possible adjustments. Keep track of all changes for auditing purposes.
Payout compensations automatically
Accruals and pay-outs can be done on a regular basis (monthly, quarterly, yearly) and can be fully integrated with third party systems.
Are you interested in Sales Compensation?
Fill in this form and someone from Pricefx will reach out to you to understand your needs and how we can help you in your Sales Compensation plans.
Frequently Asked Questions
How do I know if I need Sales Compensation?
If you're an company with a large salesforce, that still doesn't have a Sales Performance Solution in place, then Pricefx's Sales Compensation can be a great fit for your organization
How does it connect with the rest of the Pricefx capabilities?
Our Sales Compensation capability is part of our Profit package.
It's connected to our Quoting capability, meaning your sales reps would be able to view their compensation while creating a quote. This can be very powerful and can incentivize your reps during the deal negotiation phase.
How much does it cost?
The price varies depending on your Pricefx package.
Please fill in the form on the page and someone from the Pricefx team will reach out to understand your need and how our Sales Compensation solution can fit into your overall strategy.
Are there any prerequisites to use Sales Compensation?
If you're an existing customer of Pricefx, you would need to upgrade to Hurricane 9.0 to be able to deploy Sales Compensation.
How long does the implementation take?
If you're an existing Pricefx customer, the implementation can be quite fast depending on your configuration team's availability.
If you're not an existing Pricefx customer, you would need to count it into the overall implementation of Pricefx in your organization.
What should I do to get started?
Contact us!
Fill in the form on this page and we'll get back to you to setup a meeting and discuss your needs and next steps.