The commission structure for sales organizations can be a major pain point. Tracking, calculating, and dealing with volume changes in commission can be difficult and confusing, not to mention time consuming. Spiff flips that narrative with their innovative and unique software platform, promising "trust, real-time visibility and transparency, automation, and scalability.
Based in Salt Lake City, Utah, Spiff has proven itself as a leader in the sales industry, and even more so with their recent announcement of a $50M Series C. Led by Salesforce Ventures with participation from Lightspeed, Norwest, Kickstart Fund, Album and others, the funding will be used for Spiff to "...build on its sales commission portfolio and to begin solving for other complex sales and finance processes that have historically relied on spreadsheets." (Spiff press release)
In addition to the funding announcement, Spiff has also rolled out Spiff Designer, which helps in automation for Finance and Revenue teams. Don't get us wrong, spreadsheets are fun if you speak the language, but for the rest of us, automation is much more fun.
"With Spiff Designer, we have built the easiest to use and most powerful commission builder on the market," said Jeron Paul, Spriff Founder and CEO in a recent press release. "Previously, With other solutions, time to value has been measured in quarters or years and the customers' ability to self-manage commission plans has been non-existent."
Traditionally, commission has been more of a finance problem, with complicated spreadsheets with endless commands and equations. The new Spiff Designer model builder takes that finance problem and makes it more of a commission management automation, with broader case uses like Revenue Recognition, Forecasting, Allocations, and Territory & Quota Planning.
Is Salesforce a huge part of your sales systems? No problem, Spiff integrates key data sources and uses a suite of tools to integrate seamlessly.
"We are thrilled to have Salesforce Ventures as our lead investor," Jeron said. "Their deep expertise in enterprise software and commitment to driving innovation aligns well with our vision, and we look forward to working together to bring Spiff to even more companies around the world. We are uniquely positioned to disrupt the legacy commission space by eliminating human error and creating greater efficiency - and transparency - for finance and sales.”
Congratulations to Spiff! To learn more, visit spiff.com.