Given the myriad of options available in the market, selecting the right commission software can be daunting.
Commission software is a crucial tool for businesses that aim to streamline their sales commission processes, enhance accuracy, and improve sales performance.
This guide will help you navigate the process of choosing the best commission software for your business.
Choose companies that fit your requirements.
When selecting commission software vendors for a demo, consider the following factors:
Understand their primary market
Understanding the primary market helps you identify the best players in your market. It will also help you understand which industry and company size they primarily cater to. This makes checking the vendor's regulatory and compliance requirements easy in your region.
For instance, if you are an enterprise pharma company, check if they cater to enterprise-size clients in pharmaceutical industry. You can find this through their websites or any reliable review-sourcing platform.
Do they have existing customers that are similar to your business?
A vendor's client portfolio can provide insights into their experience and reliability. Look for vendors who serve businesses similar to yours in size, industry, and requirements (you’ll find this if they have case studies publicly or you can ask them directly).
This way, you can ensure that the vendor will easily understand your pain points. Check their website for existing customers and case studies.
Reviews regarding the product and support
Customer reviews are invaluable in assessing a product's performance and the quality of customer support. Look for reviews on third-party websites such as Gartner and G2. Pay attention to feedback regarding the software's ease of use, functionality, reliability, and the support team's responsiveness.
What to look for and ask in the demo
A product demo is your opportunity to evaluate the software's capabilities and suitability for your business. Here are key aspects to focus on:
Integrations with your CRM and other tools you use
Ask if the commission software integrates seamlessly with your existing systems, especially your CRM. Integration capabilities are crucial for data synchronization and automation. Check if they have implemented the same integration with their existing customers.
Will your vendor help with data import?
Ensure your vendor helps with data normalization—clean and organized before importing it into the commission software. Streamlined data helps in accurate calculations and reporting. Understand the data import process and any preparation required.
Addressing pain points
Discuss the challenges you face with your current commission processes and ask how the software can address them. Ultimately, you want to automate calculations. However, you need to specifically check if they can solve all your current and predicted future challenges.
For instance, if you plan to change the commission rate or tier next quarter, check how that would work and how easy it is to execute on the software.
In another instance, if you have a difficult clawback calculation process on spreadsheets, check how the software simplifies.
Unique USPs
Every software solution has unique selling points (USPs). Identify what sets this software apart from competitors. It could be advanced analytics, customizable dashboards, mobile accessibility, or exceptional customer service. Ensure these USPs align with your business needs.
For instance, one of ElevateHQ’s USPs is that we onboard you in 4 to 6 weeks, while our competitors take 12 weeks on average. In 4 weeks, we will set up your plan, test it, and train your team.
Read: About to buy a commission software? 5 implementation challenges to look out for.
Why wait for 12 weeks when you get it done in 4 weeks? After all, we claim our plan designer is easy to use. This is a testament that it is easy, and that’s why we can do this in a comparatively short time.
Also, look for necessary/unique features of sales commission software. Here are two:
Detailed reports
It is essential that commission tracking software offers detailed reports and sports a comprehensive dashboard for the convenience of the decision-makers. Managers must be able to check individual performances based on parameters like quota terms or plans to make timely decisions. Some of the desirable features here are:
▪ Payee dashboards offer real-time access to data like commissions earned, quota allocated, prospective earnings, and more.
▪ Detailed commission statements with updated information on possible payouts based on prospective deals.
▪ Regular notifications must be shared with salespersons, updating them on their performance.
▪ Salespersons should be able to have access to details of the commission plan and calculation methodology
Comprehensive Administrative Functionalities
A sales compensation software must offer comprehensive administrative functionalities to enable managers to leverage its different features. This includes,
▪ Superior privacy controls and audit logs.
▪ Separate role-based controls for different levels of management.
▪ Options to define hierarchy relationships.
Ease of use of Plan Designer
The commission plan designer should be user-friendly and intuitive. Ask the vendor to walk you through the process of setting up and modifying commission plans. A straightforward plan designer reduces the learning curve and enhances productivity.
ElevateHQ’s plan designer, as our marketing lead calls it, is “Excel on steroids.” It is similar to a spreadsheet but better, making learning and using our plan designer easy for you.
Proof of Concept (PoC) and training
Request a Proof of Concept (PoC) to test the software with your data and scenarios. This helps in assessing the software's real-world performance. Additionally, please inquire about the training and onboarding process. Comprehensive training ensures your team can effectively utilize the software.
At ElevateHQ, our solution engineers are on the training team to help you navigate the software and your plan's commission logic. We also have AI assistance within the software to help you if you need anything.
Test extensively
Once you've shortlisted a few vendors, it's time to test their solutions thoroughly.
Check if the commission rules are running to the T
Run various commission scenarios to verify the accuracy of the software. Ensure that the commission rules and calculations are precise and align with your business policies.
Spend time with the vendor to test edge cases and complex commission structures to identify any potential issues.
This is the ultimate test and if your vendor doesn’t impress you here, then consider other companies.
Check for customer support processes
Evaluate the software's scalability to accommodate your future growth. Ask about the vendor's support and maintenance processes.
Reliable customer support is crucial for resolving any issues promptly. Ask what is their average Turn Around Time (TAT) for customer queries.
Also, assess the training resources provided, such as user manuals, video tutorials, and live support sessions.
May you buy the best!
Selecting the right sales compensation software is a critical decision that can significantly impact your sales operations. By following this guide, you can make an informed choice that aligns with your business needs and goals. Remember to thoroughly research vendors, ask the right questions during demos, and test the software extensively to ensure it meets your requirements.
