QuotaPath is a sales compensation and commission tracking platform that helps businesses manage and optimize their sales compensation plans. With QuotaPath, companies can easily track and manage the performance of their sales team, providing accurate commission payouts, and ensuring that their sales representatives are motivated to engage in closing deals for their company. The platform is designed to be user-friendly as it provides analytics reports that help managers make data-driven decisions about their sales compensation plans. In general, QuotaPath has been deemed by many clients as an essential tool for businesses that want to streamline their sales compensation processes and drive better results from their sales teams.
What Is QuotaPath Used For?
QuotaPath’s platform is primarily used to manage sales compensation plans by allowing businesses to set commission rates, quotas, and other incentives for their sales representatives. Not only can the platform support the management needs of sales personnel, but it also empowers sales reps to keep tabs on their pipeline and performance to ensure they are reaching their on-target earnings (OTE) annually.
- Manage compensation plans
- Enable managers to set commission payment plans
- Allow representatives to track their commission earnings
With QuotaPath, managers can easily create and manage different compensation plans for different products, regions, or sales roles, and can also track the performance of their sales reps whenever they please.
The platform also allows businesses to set commission payment schedules, which ensures that sales reps are paid promptly and accurately. Sales representatives can track their earnings and performance through the QuotaPath application, which provides them with detailed reports and analytics on their sales activity, commissions earned, and other key metrics. Giving sales reps the autonomy to transparently understand what they are taking home can keep them motivated and engaged, and it also helps managers identify top performers and areas for improvement.
In addition to supporting managers, QuotaPath notably allows companies to automate the commission calculation process, which eliminates the need for manual calculations and reduces the risk of errors. This ensures that commissions are paid out accurately and on time and helps to maintain the morale and motivation of the sales team.
Who Uses QuotaPath?
Currently supporting the likes of companies such as RunZero, Everview, Contractbook, and OpenFin, QuotaPath is built for small teams and startups that are focused on growth. Inside growth-centric teams, the QuotaPath platform is designed to be a comprehensive sales compensation platform that not only streamlines workflows but drives better results for sales teams where it matters. The user base of QuotaPath consists of several key groups, including:
- Sales Reps
- Sales Leaders
- Finance Teams
- Revenue Operations
Sales representatives are the primary users of QuotaPath, as they use the platform to track their performance, earnings, and commissions. They can also access their own sales data, see their progress toward quotas, see how they compare to their peers, and continue to set new records.
Sales leaders, such as managers and directors, use QuotaPath to manage and optimize their sales compensation plans. They can create and manage different compensation plans for different products, regions, or sales roles, and can also track the performance of their sales reps.
Revenue operations teams use QuotaPath to automate the commission calculation process, which eliminates the need for manual calculations and reduces the risk of errors. Additionally, revenue teams can leverage QuotaPath to ensure that commissions are paid out accurately and on time.
Lastly, finance teams can take advantage of QuotaPath to ensure that all commissions are calculated and paid out correctly. This team can access detailed reports and analytics on sales activity and commission payments, which helps them to reconcile accounts and ensure compliance with financial regulations.
What Does QuotaPath Do?
The core functionalities of QuotaPath empower sales, revenue, and finance teams to create specific payout schedules for commissions, sync with their CRM to provide real-time insights, and design custom compensation plans for their reps.
- Create specific payout schedules for commissions
- Syncs with a company’s CRM to provide real-time insights
- Enables sales teams to design custom compensation plans
With respect to creating customized commission payout schedules, QuotaPath can help ensure that commissions are paid out accurately and on time. Teams can set different payout schedules for different products, regions, or sales roles, which helps to ensure that all reps are paid according to their performance.
In order to successfully deliver accurate commissions to reps, Quotapth syncs with a team’s CRM to provide real-time insights into sales activity and performance. This allows sales leaders to track sales rep progress toward quotas to ensure that company metrics are being met. It also provides an opportunity for leaders to identify top performers and areas for improvement so that they can perform better in the future.
Not only does QuotaPath sync with any CRM and allow companies to create specific payout schedules, but it can also support team-driven initiatives to design custom compensation plans. Teams can set different commission rates, quotas, and other incentives to ensure that sales reps continue to win deals for revenue growth.
How Does QuotaPath Work?
For companies looking to implement QuotaPath into their current operation setup, let’s take a deeper dive into how the platform might work for your business below.
- First, create an account on QuotaPath by visiting their website and clicking on the “Sign Up” button.
- Once you have created your account and logged in, you will be prompted to set up your company’s sales structure. This includes creating teams, departments, and positions, as well as setting up commission rates for each position.
- Next, you will need to import your sales data into QuotaPath. This can be done by connecting to your CRM or by manually uploading a CSV file.
- After your sales data has been imported, QuotaPath will automatically calculate commission payments based on the rates you set up in step 2.
- You can view and manage commission payments by navigating to the dashboard on the left sidebar. Here, you can view a breakdown of commission payments by team, department, and individual salesperson.
- QuotaPath also allows you to set up performance-based incentives, such as bonuses and accelerators, to motivate your sales team.
- Finally, you can generate reports and export data from QuotaPath to help you analyze sales performance and make informed business decisions. This can be done by navigating to the “Reports” tab on the left sidebar.
QuotaPath’s extensive platform offers a range of key features to help businesses streamline their commission process. With an emphasis on helping companies successfully manage commission payouts and compensation plans, QuotaPath is built to support the sales needs of each and every company in its market. Take a look at the table below, to learn more about the features that the service offers.
|Commission Calculator||Audit Trail|
|Commission Scheduling||Activity Tracking|
|Commission Management||CRM Integrations|
What Does QuotaPath Integrate With?
With QuotaPath, clients can integrate seamlessly with their specific CRM. Below, you will find a list of applications that can natively integrate with QuotaPath to pull the appropriate data needed to manage your commission system. It allows teams to automate the process and forego having to manually track, calculate, and understand how to effectively control their payment structures.
Who Are QuotaPath’s Competitors And Alternatives?
In the sales commission management space, there are notable alternatives and competitors to QuotaPath. Alternatives to the platform offer complementary, but different sets of features that suit the different needs of each company looking to evolve in its commission management process. Take a look at the examples below to learn more about the other options aside from QuotaPath.
- Spiff: An enterprise commission software platform that automates calculations for sales teams.
- Commissionly: Sales commission management service that eliminates payroll errors, automates the calculation process, and helps to streamline company workflows.
- CaptivateIQ: Helps revenue and finance teams automate commission plans so employees have better visibility.
- Performio: Automatically calculates sales commissions so sales reps have better transparency and managers can obtain deeper insights.
- Sales Cookie: Online dashboard that enables sales teams to create simple or complex incentive plans.
QuotaPath offers simple, transparent pricing with three different plans: Free, Startup, and Scale. All plans operate on a monthly subscription-based model with pricing dependent on the number of ‘seats’ a company needs. Each plan offers different sets of features that include but are not limited to creating custom compensation plans, tracking payout discrepancies, providing sales rep transparency, and more. All plans are designed to help businesses streamline their commission process and maintain compliance with industry regulations.