Best Sales Performance Management Software
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PRODUCTS
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BUYER'S GUIDE
Buyer's Guide
By Urnesha Bhattacherjee, Technical Content Writer at SelectHub
Sometimes managers find themselves studying their sales pipelines even though they've deployed compensation software to motivate representatives; the turnovers just aren't impressive.
A possible pain point could be a lack of clearly-defined quotas and feedback to drive performance. Sales performance management software address this and much more.
This guide will discuss these tools capabilities, cost considerations and selection strategy.
Executive Summary
- Sales performance management software includes essential training resources to build sales skills.
- Sales performance management software offers a way to reinforce information shared during sales training.
- Some crucial questions for the buyer and the vendor lead to informed software selections.
What Is Sales Performance Management Software?
Sales performance management software is a monitoring tool that track sales progress to recompense success and address areas of improvement. These tools primarily assist with incentive, territory and quota management.
These solutions come with key performance indicators (KPIs) that present targets or quotas across teams and territories. Additionally, representatives can leverage reporting tools to measure their progress in closing deals.
Secondary capabilities of SPM software include
- Advanced analytics
- AI-powered natural language processing
- Gamification
- Cross-platform support
Primary Benefits
Revamp Sales Pipelines
Sales performance management software brings a much-needed performance framework to your company. Your pipeline will be peopled with reps demonstrating crucial skills that drive sales.
Visibility into sales pipelines helps managers identify performance trends, revenue prospects and areas of improvement. SPM tools open up possibilities for a transparent and proactive pipeline that can benefit from human intervention throughout the product lifecycle.
Boost Sales Productivity
Sales performance management software includes essential training resources to build sales skills. These resources include
- Video tutorials to improve sales pitches
- Training modules
- Gamification and competitive scoreboards
- Reading materials authored by subject matter experts
- Individual feedback on strengths and weaknesses
Lengthy sales cycles and incidental rejections frequently demotivate representatives. With the help of these training tools, reps can stay motivated and informed.
Moreover, managers can fine-tune their training efforts to fit every unique rep.
Simplify Incentive and Territory Management
Performance-based compensation is the crux of SPM solutions. Most SPM tools integrate with incentive management solutions to ensure reps are paid fairly and on time.
Sales performance management tools facilitate intelligent territory assignments to representatives based on their strengths and experiences in particular locales. Data-driven sales insights help reps identify prospects to target in their assigned territories, resulting in high conversion rates.
The SPM software market size is growing thanks to high-value compensation and territory management returns.
In 2020, the global sales performance management software market was valued at $1.58 billion, and it’s set to grow to $1.79 billion by 2025.
Key Features & Functionality
Incentive Planning and Management | Sales performance management software supports multi-level engagements to plan optimized sales strategies. The incentive management capability ensures timely and fair compensation for every sales rep. The tool automates every aspect of incentivization like design, calculation, exception handling and credits distributions. |
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Territory Management | At the risk of hurting employee morale, SPM tools automate the allocation of territories to particular reps, making the process impartial and transparent. With that resolved, managers can strategize sales area mapping and allocate resources according to the number of orders per location. Sales performance management software also allows managers to oversee field rep performance and conversion rates from a unified platform. |
Quota Management | Use sales performance software to set attainable sales goals for your representatives and monitor their performance. Elevate or shrink targets according to sales track records. The best tools in the market come with a forecasting feature that helps you set quotas for upcoming sale cycles. Since quotas depend on factors like individual capabilities, competitor targets and revenue objectives, the SPM platform you choose should let you gather data from diverse sources. |
Tracking and Forecasting | Easily transition between tracking team operations and individual performances. Just plug in KPIs, deadlines and revenue goals to the sales performance software to track sales. Unlock the power of predictive modeling that machine learning brings you. Advanced analytics and modeling features of SPM help businesses forecast sales and output to ensure sound ROIs. |
Reporting and Analytics | SPM tools zero in on minute sales history details to recognize winning patterns and identify potential leads. Tech intervention thus trumps the quality of manual reports. Accurate reports ensure employee adherence to organizational metrics. AI-powered analyses open up prospects for inter and intra-organizational comparisons to produce actionable insights. Thus, real-time analytics streamline sales planning. |
Lead Management | Once you've identified leads, sales performance management software makes it easy to capture and track them from various channels. |
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Software Comparison Strategy
Of late, more and more companies are opting for SPM solutions to reduce inefficiencies and automate incentivization.
By 2026, 25% of organizations using a sales performance management solution will use advanced analytics solutions to improve the design and maintenance of their compensation strategies.
When you shop for solutions, look for tools that benefit sales reps and managers alike.
Here are a few ways to compare the top offerings in the market:
Consider Deployment Methods
On-premise solutions come with a one-time license and require specialized training. Total ownership, non-intervention of third-party vendors and reliability of company-owned infrastructure are some of the perks of this type of SPM tool.
Cloud-based platforms are lighter on the pocket and are hosted on third-party servers instead of on the business premises. They are highly scalable, so you can seamlessly add the functions you want as your company gains ground.
Create a Features Checklist
The basic three functionalities of sales performance management software are incentive management, quota management and territory management.
With growing complexities in documentation, a platform with advanced analytics and reporting features makes the most sense.
Beyond these, the latest market trends show high adoption rates for platforms that offer mobile support and gamification tools.
It's best to browse the market with a definitive checklist of must-have and good-to-have features.
Cost & Pricing Considerations
Before investing in brand new sales performance management software, determine whether the current sales performance metrics positively or adversely affect company revenue.
The answer will bring you insights into the following:
- Do you need a wholly new solution or just a feature upgrade?
- How much are you willing to spend?
- Are you open to trying out different deployment methods?
Based on the parameters above, look for products that:
- Rank low in operating and maintenance costs.
- Demonstrate an evident parity between features and prices.
- Fit your deployment needs.
- Come with sustained vendor support for on-premise platforms at no hidden costs.
- Can scale up by adding newer features within your budget.
The Most Popular Sales Performance Management Software
Here are a few popular sales performance management solutions to kickstart your search:
COMPview
COMPview is a feature-rich cloud-based solution that offers performance tracking, report generating and integrative capabilities. It empowers managers to monitor sales performances across departments and territories.
Detailed reports on each employee’s performance streamline the compensation process. HR managers can use the tool to customize the organization’s compensation plans at any point in the sales cycle.
COMPview also enables hassle-free data imports from other platforms like HRIS, CRM and more.
COMPview’s sales performance tracker.
CompAccelerator
This tool is a viable solution for the compensation wing of sales performance management.
Using CompAccelerator, you can consolidate data in a single digital location to eliminate maintaining multiple spreadsheets and obtain a comprehensive understanding of the budget and payment cycle.
The adaptable user interface helps you create a more effective workflow. Achieve budget-conscious approvals and recommendations by providing managers with the most recent data on the total amount of rewards that are currently available.
Find pay inequities as they arise and deal with them with the help of this SPM solution.
Compport
Compport is a proactive solution for all HR, analytical and automation needs.
Managers can follow up on and replicate successful offers while overseeing sales performance. Employees can participate in surveys about payment plans, awards and workflows. HR professionals can use employer feedback to create more effective rewards and smoothen day-to-day processes.
This tool lets you monitor staffing, turnover and performance trends from one place. Identify performance patterns and make operational adjustments to enhance sales.
Compport’s Incentive Management Dashboard.
Questions To Ask
Here are some questions to ask yourself before buying a performance management solution:
- What is your budget?
- Do you need a brand-new tool or a feature upgrade?
- What level of customization and support do you need?
- Who will be using this solution?
- How many sales representatives are on your team?
A few questions about the product and the vendor are a good idea after you've browsed vendors and solutions. Using this method, you can examine the product's features and gauge the vendor's market share before purchasing.
- Is the solution user-friendly, or is there a steep learning curve?
- Are KPI alerts and training reminders available?
- How does the vendor plan to stay relevant in the next five years?
- How often does the vendor release updates?
Next Steps
Deploying sales performance management software requires balancing the needs of your team and organization. When used correctly, it can secure targeted revenue returns while boosting the productivity of sales reps.
These tools ensure a positive ROI for your business as real-time performance data enables you to re-orient the company’s success models and training modes over time.
To dig deeper, grab our free comparison report to easily see how leading systems stack up against your needs — and each other.
Product Comparisons
Additional Resources
Products found for Sales Performance Management Software
Paycom
Paycom automates a variety of the core tasks necessary for managing and retaining talent. It helps businesses streamline their processes and relieve the burden of unnecessary paperwork, allowing managers to focus on tasks that cannot be automated. Cloud-based deployment provides access to features from any internet-connected device, enabling users to complete tasks even when they’re out of the office. It facilitates tasks such as benefits administration, reporting and more.
UKG Pro
UKG Pro provides a unified, cloud-deployed suite that allows companies to manage human capital at a global scale. It offers an array of core features including payroll, benefits, recruiting, onboarding and learning. Users can also leverage it to manage employee data and files, compensation, time and attendance, performance, and succession plans.In addition to HR-specific capabilities, it incorporates advanced technology such as machine learning and AI, predictive analytics and business intelligence. This helps optimize performance, streamline tasks, improve understanding of the workforce and drive retention.
Virgin Pulse
Virgin Pulse is a leading solution that ranks 3 among all Compensation Management Software according to our research analysts and 36 crowd-sourced reviews from 1 source. Starting from $0, Virgin Pulse is priced initially at no cost and is most applicable for any business. Virgin Pulse can be deployed in the cloud and is accessible from a limited number of platforms including Apple devices.
PeopleSoft
PeopleSoft is an end-to-end solution that automates and streamlines the supply chain and centralizes global transactions. It is suited for all industries and businesses of different sizes. It comes available as on-premise or cloud deployment. Oracle acquired PeopleSoft in 2004.
PayActiv
PayActiv is a high-profile software tool that ranks 5 among all Compensation Management Software according to our research analysts and 2 crowd-sourced reviews from 1 source. Starting from $0, PayActiv is priced at no cost when starting and is most fitting for companies of all sizes. PayActiv can be deployed in the cloud and is accessible from a handful of platforms including Apple devices.
Alight
Alight is a cloud-based human capital management and trade solution provider with a focus on core HR, payroll and benefits. It improves business operations to achieve favorable results for employees by using data analytics and proprietary AI. It also helps employees improve their health and productivity while offering worldwide collaboration. It delivers data-driven insights for better workforce care, helps to increase return on technology investments and streamlines strategic decisions to cater to employee health and financial and retirement needs.
PerkSpot
PerkSpot is a high-profile software application that ranks 7 among all Compensation Management Software according to our research analysts. Starting from $0, PerkSpot is priced at no cost when starting and is most fitting for large businesses. PerkSpot can be deployed online and on-premise and is accessible from the vast majority of platforms including Windows, Linux and Apple devices.
Willis Towers Watson
Willis Towers Watson is a global advisory and financial services company that designs solutions to manage talent, risk, benefits/compensation and money for organizations. It allows company leadership to analyze and understand people, capital, and risks in their organization. Users can also evaluate and manage performance, change, competency, diversity and inclusion, investments, rewards and other aspects. They also offer services like consulting, performance management, insurance and a variety of others to their consumers.
PayScale
PayScale is a management tool that helps employers and employees understand what the right pay for a specific position should be. It provides a unique matching algorithm. It offers inclusions and resources to meet the unique needs of every business. Resources for unique roles are also available for professionals, employees, executives, HR leaders and people managers.
Anaplan
Anaplan offers flexibility against all market circumstances with practical plans and budgets. It assesses real-time choices and trade-offs for thorough analyses. Leverage up-to-date internal and external information to better review production and predict numerous situations.Its top modules include finance, marketing, supply chain and sales. Build, model and maximize compensation strategies to meet or exceed client desires. It also manages supply chain trends in one centralized hub.
Taleo
Founded in 1996 as Recruitsoft, Taleo adopted its current name five years after its inception.It was acquired in 2012 and now offers two versions. One version is designed to meet small and medium-sized businesses’ needs, while the other is designed specifically for large businesses. It can assist with a variety of tasks specific to finding and hiring new employees as well as helping with employee performance management. It helps with every step of the employee lifecycle, from interviewing potential applicants to developing succession plans.
bswift
Bswift is a distinguished software platform that ranks 12 among all Compensation Management Software according to our research analysts and 14 crowd-sourced reviews from 1 source. Starting from $0, bswift is priced at no cost when starting and is most fitting for any sized business. Bswift can be deployed online and is accessible from a limited set of platforms including Windows and Apple devices.
Salary.com
Salary.com is a compensation suite. It helps companies manage compensation expenditures using real-time analytics. Provides a reliable record of employee pay levels, best practices, trends and policies related to compensation processes. Experienced teams help businesses understand the industry to suit business needs. Integrated with actionable content, it helps users make better decisions about payments, recruiting and retaining top talent.
KTBSonline
KTBSonline is a promising software product that ranks 14 among all Compensation Management Software according to our research analysts. Starting from $0, KTBSonline is priced initially at no cost and is most suitable for any sized business. KTBSonline can be deployed online and on-premise and is accessible from a broad spectrum of platforms including Windows, Linux and Apple devices.
SuccessFactors
SuccessFactors combines a set of integrated products to form a complete suite for HCM. The HRIS system enables companies to execute basic human resource functions as well as expand to strategic initiatives and planning to remain competitive. Based in the cloud, uses technology such as AI and machine learning to solve pressing human resources demands. In addition, SAP offers consulting and professional services to help companies implement integrations, deploy HRMS software and more.
Spiff
Spiff is a sales commission solution that helps boost team morale and enhance company growth via automated payout calculations and incentive rewards. It allows users to create and maintain payout and incentive plans that are optimized for top-line growth without the need for any coding or professional services. The vendor offers a combination of intuitive UI, real-time visibility and seamless integrations. It aligns and enables finance managers to manage complex incentive payout plans efficiently, automates calculations and provides transparency for the sales teams.
eBacon
EBacon is a well-known solution that ranks 53 among all Payroll Software according to our research analysts and 20 crowd-sourced reviews from 1 source. Starting from $1000, eBacon is priced above average and is most fitting for small-to-mid-sized companies. EBacon can be deployed online.
GoCo
GoCo is a comprehensive cloud-based system that provides HR, benefits administration, employee onboarding and payroll services. Designed for small and medium-sized businesses, it streamlines processes such as time tracking, e-documentation, onboarding and PTO management.
Cornerstone OnDemand
Cornerstone OnDemand is a cloud-based talent and performance management product. Together with its subsidiaries, it helps companies cater to their people development and management needs, handling the employee lifecycle from start to end. Five modules support recruiting, learning, performance and content management. It can be accessed from anywhere at any time, regardless of the user’s location or device type.
PeopleKeep
PeopleKeep is a popular software product that ranks 21 among all Compensation Management Software according to our research analysts and 83 crowd-sourced reviews from 1 source. Starting from $15, PeopleKeep is priced less than most others and is most advisable for small-to-mid-sized companies with less than 1000 employees. PeopleKeep can be deployed online and on-premise and is accessible from a few platforms including Windows and Apple devices.
DATIS
DATIS provides a fully integrated cloud-based management and payroll software designed specifically for human services enterprises. By combining all parts of workforce management, it assists businesses. Its end-to-end technology covers all areas of staff lifecycle, including strategic planning, payroll, recruitment, time and attendance, and employee engagement.Supported by the position control attribute, it provides businesses better insight into workforce operations and optimizes resources for better strategic decisions.
Corestream
Corestream is a well-known software tool that ranks 23 among all Compensation Management Software according to our research analysts. Starting from $0, Corestream is priced at no cost when starting and is most applicable for larger sized companies. Corestream can be deployed online and is accessible from a wide array of platforms including Windows, Linux and Apple devices.
Performance Pro
Performance Pro is a cloud-based, all-in-one performance, compensation and learning management system that assists HR professionals to implement services from employee development to salary administration. It provides users with essential process automation, feedback facilitation, new hire learning programs and more. The platform is suitable for businesses of all sizes and across all industries.
Workday HCM
Workday HCM is a SaaS solution that unifies all aspects of managing the employee lifecycle in a single HRMS. The suite of modules allows organizations to operate globally, run payroll, administer benefits, manage talent and facilitate learning, among other things. While designed for medium and large enterprises, the platform can support the needs of smaller businesses as well. A business process framework provides control for all internal processes. The software is also equipped with audit tools and built-in security capabilities, and it offers mobile apps for flexible access.
UrbanBound
UrbanBound is a popular software product that ranks 76 among all Workforce Management Software according to our research analysts and 12 crowd-sourced reviews from 1 source. Starting from $0, UrbanBound is priced free of charge to start and is most advisable for medium-to-large-sized corporations. UrbanBound can be deployed in the cloud and on-premise and is accessible from a handful of platforms including Windows and Apple devices.
CaptivateIQ
CaptivateIQ is a no-code solution dedicated to helping organizations and individuals develop rewarding compensation plans for hardworking employees. It encourages team motivation through fair payment and incentives. It is flexible and automated to help companies save time and avoid errors. Devise compensation plans, share insights, make clear and error-free commissions, and help organizations make better decisions. Connect with different data sources and automate the whole process as needed.
Oyster HR
Oyster HR is a popular software platform that ranks 92 among all Recruitment Software according to our research analysts and 1 crowd-sourced review from 1 source. Oyster HR is most advisable for smaller businesses of 100 employees or less. Oyster HR can be deployed in the cloud and on-premise and is accessible from a wide array of platforms including Windows, Linux and Apple devices.
CompAnalyst
CompAnalyst by Salary.com is a SaaS solution that offers datasets and features to optimize compensation plans and decisions. It helps companies leverage data and in-depth insights on salaries and employee payroll. It enables administrators to make informed payment decisions, analyze pay practices and manage end-to-end compensation process requirements. It automates compensation survey participation, creates presentation-ready reports and models salary structures that align with organizational goals.
Engagedly
Engagedly is a comprehensive cloud platform that provides talent management, performance management, employee engagement, goal setting, social collaboration, employee reward and recognition, learning management and advanced analytics and reporting features. Users can access it through native mobile apps available on Android and iOS.
QuotaPath
QuotaPath is a payroll management system that enables sales teams to forecast real-time commissions, design completely customizable compensation plans and gather insights in a single dashboard. It allows users to effectively manage and track commissions. It provides tools to build and distribute standardized compensation plans. The vendor offers compensation plan templates to help create plans faster. It allows users to add multiple paths to track bonuses and commissions correctly, without any scope for errors. Sales leaders can make changes to plans and send updates to team members.
TalentQuest
TalentQuest is a comprehensive talent management platform designed to optimize an organization's workforce by facilitating key HR functions. It offers a range of features, including performance appraisal, succession planning, and learning management. This platform empowers businesses to enhance employee development and productivity. TalentQuest streamlines HR processes, ensuring that companies can effectively manage their workforce, improve employee performance, and plan for future talent needs. It provides a flexible solution for talent management, enabling customization to align with an organization's unique requirements. While praised for its robust features, potential users should consider factors like implementation complexity and cost.
Meta4
Meta4 is a unified cloud-based software that provides HCM, talent management, compensation and workforce management services. Designed to address both local and global needs for companies of all sizes, it manages the complete HR cycle, from payroll and personnel administration to global talent management.
WeGift
WeGift is a well-known platform that ranks 35 among all Compensation Management Software according to our research analysts and 2 crowd-sourced reviews from 1 source. Starting from $0, WeGift is priced at no cost when starting and is most suitable for all company sizes. WeGift can be deployed online and is accessible from a broad spectrum of platforms including Windows, Linux and Apple devices.
Sage People
Sage People is a global cloud system that provides workforce analytics, attendance, leave management, talent management and payroll. Designed for mid-sized multinational companies, it can be accessed anytime and on any device. Automation and analytics enable business continuity, increase workforce visibility and boost productivity. It is fully extendable, with the ability to integrate with third-party products.
PageUp
PageUp is a cloud-based suite of recruiting, acquisition and employee management tools. It combines applicant attraction, hiring-specific marketing and talent CRMs to attract candidates and increase the talent pool scope. With integrated hiring and onboarding tools, it streamlines employee lifecycle management with turnkey solutions.
Varicent
Varicent is a software provider that helps industries boost productivity and workforce motivation through incentives and sales performance management. It has an experienced team and preeminent partners that enable organizations to improve performance and drive profitability. The company mainly offers two resources — Diversity and Gender pay apps and a scholarship program called E.D.G.E. It provides automating calculations, analyzing incentive compensation plans, managing sales territory assignments, accessing real-time performance dashboards, handling transaction inquiries, establishing a workflow for collaboration and making evidence-based decisions. The offerings are also categorized based on the need, role and services for ease of access.
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