SALT LAKE CITY, Utah--(BUSINESS WIRE)--In its ongoing quest to bring transparency and trust back to the sales commissions process, Spiff, the leading sales commission software for forward-thinking revenue and sales organizations, announced today the availability of the new version of its flagship product, Spiff Commission Designer. The new version delivers a new user experience that offers the familiarity of a spreadsheet but with low-code/no-code automation technology that increases the speed and efficiency in which finance and sales build and manage commissions plans.
“We believe we are building the greatest compensation tool on the market and on the road to ending a cold war that has existed for a long time between sales and finance,” Jeron Paul, Chief Executive Officer, Spiff, said. “In building the newest version of Designer, we’ve redesigned the platform to make it easier to use than a spreadsheet with the functionality of the business software we are all so familiar with. We’ve incorporated the comfort of familiar spreadsheet formulas but with the automation superpower needed to empower anyone in your finance organization to build complex commission plans with confidence and ease.”
Spiff, which closed its Series B financing round of $46 million in June, was recently named the leader in eight sales compensation reports by software marketplace and reviews platform, G2.com.
Instilling User Confidence
Enterprise finance users have lost confidence in the commissions process. As complexity has increased in global organizations - finance teams are often managing hundreds of different commissions plans - spreadsheets, the most common way enterprises have managed the process, are laced with errors that aren’t easily correctable. A great scratch pad, spreadsheet technology has been outpaced by the complexity of sales commissions management.
Designer enables anyone in the organization to build complex commission plans with confidence and ease. New formula functions and color structure in Formula Editor will look familiar to spreadsheet disciples. Low to no-code datasets, like Relative Dates and Rollups, makes it easier for non-technical users to design, and Versioning provides access to audit history that gives users instant access to critical information and the ability to roll back unwanted or unintended changes.
Increasing Speed and Efficiency
Creating and managing commissions plans has become very time consuming. Teams of analysts are focused solely on making sure variable compensation is accurate. Any error in the data can result in weeks worth of work being wasted.
Designer lets users streamline workflows and save significant time with a customizable and user friendly interface. A new global search offers user-friendly navigation that makes it easy to find information, while features such as Flex Panels, Organizers and Statement Tab Customization provide new levels of customization and organization.
Fostering Transparency and Trust
Sales no longer trusts the math behind the commission numbers and individual reps have little to no transparency into the activities that will get them paid. That frustration has boiled over in many organizations, painting finance teams to be the bad guy - despite constantly having to balance the health of the organization with the needs of employees who receive variable compensation.
Designer brings more visibility into the commission process through checks and balances. Traces is a new feature that provides full transparency with enhanced statement tracing, giving users a deeper understanding of the data and rules with diffing and testing capabilities.
“Spiff’s incredibly flexible commission plan designer made for the end user in Rev/Sales Ops to be able to build, maintain, and update plans without the need for Spiff’s team to provide support,” Charlie Wiebe, Senior Manager, Revenue Strategy & Operations at Modern Health, said. “It connects to all the tools we use on the revenue side of the business as well. The ability to support our custom commission plans enables us to meet the needs of our quickly growing team and business in how we compensate and incentivize reps.”
Spiff is a new class of software that creates trust across the organization by delivering real-time automation of commission calculations and motivates teams to drive top-line growth. With a combination of an intuitive UI, real-time visibility, and seamless integrations into current systems, Spiff is the first choice among high-growth businesses. Spiff’s sales compensation platform enables finance and sales operations teams to self-manage complex incentive compensation plans and provides transparency for sales teams.