Commissionly

Commissionly is a sales commission management software that aims to streamline and automate the process of calculating and distributing commissions. According to the vendor, this software solution is suitable for businesses of various sizes and caters to professions and industries such as financial services, energy sales, medical products, ISO payments, and insurance.

Key Features

Varied Commission Structures: According to the vendor, Commissionly allows users to create complex commissions based on flat or tiered rates, revenue, profit, or product-based criteria. Users can set commissions based on product sales volume, product sales revenue, or product category sales volume and revenue. Additionally, the software provides the ability to easily set targets for sales teams and offers transparency for sales personnel to access and track commission details.

Sales Splits: Commissionly enables users to assign and adjust sales splits for any opportunity. According to the vendor, revenue splits allocate percentages of opportunity revenue to team members responsible for generating the revenue. Overlay splits credit supporting team members with a percentage of the opportunity amount. The software also offers customizable split types.

Manager Override Commission: The vendor states that Commissionly allows users to set the percentage of commission that a manager receives when their team members make a sale. This feature is designed to motivate managers to take a hands-on approach in motivating their team and achieving sales targets. It is also intended to strengthen relationships between team members and their managers, as well as encourage teamwork and collaboration within the sales team.

Commission Draws: According to the vendor, Commissionly enables sales reps to receive regular paychecks based on future commissions. Users can determine the payroll draw amount and pay period in advance. The commission earned at the end of the period goes towards paying back the draw, providing a steady income for sales reps until scheduled commission checks are received.

Paid When Paid Commissions: Commissionly allows users to pay commissions to reps only once payment has been collected from clients. According to the vendor, the commission rate is based on the revenue achieved when the deal was closed won or the invoice created. Users can choose to calculate commissions for weekly, bi-weekly, monthly, quarterly, or annual targets. This feature is intended to improve accuracy in commission calculations and ensure timely payments.

Commissions Clawbacks & Adjustments: Commissionly offers the ability to recover compensation paid to employees due to incorrect financial results or customer attrition. Users can make adjustments to commission payments after a sale to ensure accurate payouts. The vendor states that adjustments can be easily entered in the system for automatic calculation, providing flexibility in managing commission payouts.

Matrix Commissions: According to the vendor, Commissionly allows users to create commission plans based on multiple variables, such as different rates for different products or regions. Users can link commission rates to specific criteria, such as customer type or product category. The software offers a customizable matrix table to simplify complex commission structures. Users can also import data from existing sources and link it with corresponding data in Commissionly.

Suspend User Module: Commissionly provides the ability to suspend users to stop processing commission for staff members who have left. According to the vendor, commission data for suspended users is retained for historical purposes, and licenses are freed up for new users. Users can contact support to unsuspend a user if needed.

Commissions Catch Up: According to the vendor, Commissionly allows users to reward reps if they underachieved during part of a target period but overachieved in other parts. At the end of the period, the software pays out the difference in commission rates for past sales. This feature is intended to motivate reps to reach overall targets and provide transparency on potential rewards, while improving accuracy in commission calculations and payout.

Commission Criteria Filtering: Commissionly offers the ability to set commissions to pay only when specific criteria are met, such as the type of business (new or renewal). Users can filter commissions based on any criteria in the opportunity or deal data and customize commission rates based on different criteria. The vendor states that this feature improves accuracy in commission calculations and ensures targeted payouts.