If you’re like most organizations, you’re probably dealing with some serious compensation challenges. According to a survey conducted by QuotaPath: 39% of professionals admitted their compensation plan contradicted business targets and only 1% of RevOps leaders felt strongly that their plans drive business metrics.
There’s a better way to run comp plans. Join Ryan Milligan, VP of Sales and Revenue Operations at QuotaPath, for a detailed discussion on how QuotaPath can help you build compensation plans that motivate sales reps to pursue the right revenue for your business.
“Why do you even have a comp plan? You have a comp plan to motivate a change in human behavior.” - Ryan Milligan
The biggest problem teams are facing is that their compensation plan is not designed to drive changes in behavior. Instead, the comp plan acts as an after-the-fact tool for paying out commissions. This leaves a lot of utility on the table.
For RevOps people, building out and deploying compensation plans can feel like all risk and no reward. They’re time-intensive, incredibly important for rep motivation and retention, and very error-prone. Paying people incorrectly is very risky for the cash profile of the business.
Using QuotaPath, compensation plans can serve as vehicles for aligning seller behavior with important metrics that will deliver the type of revenue your business needs to grow, not to mention improving interdepartmental transparency and trust.
Jump to the clip to see real stats about today’s top commission challenges.
“The rep can see, in real-time, the math behind how much money they're making on deals they've already closed and even forecast future earnings for deals in their pipeline.” - Ryan Milligan
Other tools on the market can automate the process of calculating and paying commissions but QuotaPath is particularly unique. QuotaPath's compensation management system meets the roles and responsibilities of sales, ops, and finance teams to run processes more efficiently and transparently.
The tool syncs with your data’s source of truth and focuses on interpretability. Sales reps can understand the math behind their commission structure and even forecast their future earnings. RevOps and finance teams have real-time insights that allow them to make changes that influence the behavior of their sales reps on the fly.
For example, if your company is aiming to increase gross revenue retention, you can use QuotaPath to implement comp plan drivers that drive multi-year contracts - like multi-year accelerators - which ensure fewer renewal cycles and greater lifetime customer value. In QuotaPath, reps can then run what-if scenarios to see how much more they'll make when securing a multi-year contract over a single-year.
Jump to the clip to learn why QuotaPath isn’t just focused on solving a finance problem.
“If you want to use your comp plan to drive performance, QuotaPath is uniquely positioned to help you do that.” - Ryan Milligan
QuotaPath is perfect for companies with sales reps and operations teams that are looking for a compensation planning tool that’s designed to motivate the right outcomes from the GTM team. If you want to drive your sellers to deliver more of the type of revenue that will grow your business, then QuotaPath is right for you.
QuotaPath integrates with major CRMs like HubSpot, Salesforce, Close, Copper, PipeDrive, and Zoho. It also connects with data warehouses like Looker, Snowflake, Tableau, and SmartSheet, which is especially helpful for companies that have usage-based compensation plan models. If you want to integrate with ERP tools and pay commissions off of invoices received, QuotaPath can pull data from Xero, Sage Intact, NetSuite, and Maxio.
Anyone can get started today with a 14-day free trial that allows you to sync to your CRM or ERP and start building and deploying your compensation plans. QuotaPath pricing is publicly available on the website and you can choose from the Essential, Growth, or Premium plans. Growth and Premium plans have platform fees along with per user pricing.
QuotaPath recommends reaching out for assistance with implementation to ensure it goes smoothly, especially since the service is rolled into your user pricing with no additional professional services fees. On the Growth plan, implementation typically takes 45 to 60 days. The Premium plan typically takes anywhere from 45 to 90 days.
Jump to the clip to hear how QuotaPath works with other tools to guide seller behavior.
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