Salesforce to buy Spiff, to automate commission platform
NEW YORK, UNITED STATES — Software firm Salesforce has inked a definitive agreement to buy Spiff, a platform that automates commission management for sales teams.
With the integration of Spiff into Salesforce systems, Chief Revenue Officers (CRO) will be equipped with the right tools to manage its workforce.
Spiff boasts of a low-code user interface with a processing engine that makes it easier for CROs to create a sales compensation plan that automatically updates based on sales representatives’ achieving their pre-agreed targets. Also, sales personnel can see what commission they’re due in real time.
Once the deal is sealed Spiff will join Sales Cloud, Salesforce’s customer relationship management (CRM) platform. This will integrate both the customer and sales data, which can be harnessed to craft the right business plans to maximize revenues.
“CROs and financial leaders know the importance of compensation in driving rep behavior. The challenge these leaders face is in how to align these compensation plans to desired outcomes – all while navigating data across siloed-point solutions,” says Ketan Karkhanis, Sales Cloud Executive Vice President & General Manager.
The deal is expected to close in early 2024. Spiff, founded in Utah in 2017, has raised over $110 million in investments. This includes funding from Salesforce Ventures, Salesforce’s capital firm, which pumped in Spiff’s Series B round in 2021 and led its $50 million Series C round earlier this year.
