Of course, keeping track of both wins and losses is important. On a company-wide scale, leaders can analyze which areas of improvement need the greatest attention. They can then coach their team members to focus on those areas. The end result is a better sales process, and increased revenue.
Keeping track of metrics is important for individual sales reps, too. After all, earning hefty commissions from their sales is how many of them make a living (or at least earn a nice chunk of extra change). Realistically, though, it can be challenging to regularly update and calculate commissions for each rep, especially on large teams with multiple tiers and accelerators.
What's the solution? Many HubSpot clients have found that using the QuotaPath integration has streamlined their sales commission calculation process, and saved precious time and resources.
How QuotaPath Works
QuotaPath is designed to implement automated commission tracking for each member of your sales team. It provides transparency into the sales commission structure and pacing for each rep. It also allows administrators to quickly and consistently pay out commissions per scheduled intervals.
QuotaPath can import HubSpot deals automatically. It also enables reps to not only see their deals, but also project potential earnings based on their current number of won deals and their rate of success. On the administrative side, managers can match QuotaPath members to HubSpot users, develop compensation plans with HubSpot CRM data, as well as calculate each rep's earnings and achievements.
The great thing about QuotaPath's integration with HubSpot is that it effectively serves as a "single source of truth" for both reps and admins. The impact of this centralized repository is less time spent on routine, manual calculations, and more time spent on more mission-critical tasks, such as booking demos and closing sales.
QuotaPath Integration Features
QuotaPath offers several useful features for automated sales commission tracking, including the following:
Seamless data migration from HubSpot.
You can easily transfer HubSpot records over to their appropriate fields in QuotaPath, such as Company, Deal, Contact, or Product.
Intuitive comp mapping.
It's exceptionally straightforward to map the different elements of your comp plan to the relevant fields in HubSpot, from "Deal Name" to "Deal Owner" to "ARR" (Annual Recurring Revenue).
QuotaPath allows you to define what constitutes a "closed won" deal, and add any number of custom conditions according to your specific business model. You're also able to see commissions on closed deals, and project potential earnings on sales opportunities. Once the information has been entered into the platform, you can sync all of your team's HubSpot deals with QuotaPath.
Time-saving sales commission automation.
QuotaPath allows admins and reps to track earnings in real-time. You won't have to worry about incorrect sales commission payouts again; your reps can quickly view their earnings in HubSpot, and check on their progress towards larger goals.
In order to gain the benefits of QuotaPath's features, you must subscribe to one of the company's plans. There are 3 basic categories from which to choose:
- Free. This subscription allows users to build basic plans, track and forecast personal earnings, set personal goals, and improve productivity through resources like MyPath.
- Startup ($24/mo). This plan includes everything in the free version, plus additional control over the sales commission structure. Pricing is on a per-user basis. Features include discrepancy tracking, earnings approval, selection of global currency, etc.
- Scale ($480/yr). Again, this pricing is on a per-user basis. The Scale plan provides you with a range of powerful compensation management tools. You're able to create payout schedules, manage ASC 606 compliance, distribute and verify compensation plans, flag deals, as well as create attainment leaderboards.
Benefits of Using QuotaPath
There are a ton of benefits that you can gain from using the QuotaPath integration with HubSpot for sales commission tracking and management. Here are just a few major advantages to consider:
1. You can save a lot of time on sales commission calculation.
QuotaPath's platform constantly updates commission earnings in real-time. It allows administrators to create payout schedules based on company policy, whether the payouts are per month, per quarter, or per annum.
You won't have to manually plug new deals into a cumbersome spreadsheet. You also won't need to deal with complicated formulas that could easily get messed up. Instead, you'll have a simple, streamlined, and accurate payout process in place. This will help you to focus your attention elsewhere.
2. Your sales reps will be motivated by the transparency in their earnings.
Giving your sales team an instant view into how much commission they earned for each deal will no doubt be a huge hit. Moreover, QuotaPath has user-friendly dashboards that help reps to see how much progress they've already made towards a certain goal, and how far they still have to go. All of this will feed into increased motivation for your team.
3. You'll have the support of a world-class customer service team.
QuotaPath's support team has a great reputation for prompt response times, professionalism, and in-depth knowledge of their product. In fact, one customer wrote that "[QuotaPath's] customer support/engagement is by far the best of any vendor I have worked with."
When questions come up, you can expect a helpful answer from one of QuotaPath's service reps; and in some cases, you may even receive a strategic recommendation on how best to utilize the platform's features!
As discussed above, QuotaPath is an excellent option for tracking and managing sales commissions for your entire team. It's easy to use, offers exceptional transparency, and can free up a lot of valuable time for coaching reps and closing deals.
Are you in need of a sales commission tracking platform that will simplify your process and lighten your workload? Then you should consider QuotaPath's solution as a viable option.
Learn more about how QuotaPath's integration with HubSpot can help! Reach out to our team of friendly experts at OverGo Studio today for a free consultation. We'd be happy to assist!
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