Large enterprise software makers like SAP and Xactly offer products to manage sales compensation, but CaptivateIQ believes existing options are either too clunky or, for mid-sized companies, too expensive. “It’s really an area that has been left uninterrupted for almost two decades now,” Teng says. CaptivateIQ cites awhich found that four in five companies reported inaccuracies in their sales commissions payouts.
CaptivateIQ’s plan to modernize commissions comes by taking the human element out of managing a spreadsheet. Instead, its software uses automation to crunch the numbers, while also giving sales managers the tools to build a commissions model that links to all the data sources they use to calculate payments, such as invoices or billing systems.
Schopmeyer remembers resorting to spreadsheets after being priced out of a $100,000 solution at his former company, adtech startup BrightRoll, which employed a few dozen sales reps. CaptivateIQ’s product goes after a wider market segment—it’s designed to work for companies with as few as 25 sales reps and is scalable for large enterprises, he says.
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