In a move to enhance its Sales Performance Management software, Salesforce has announced plans to acquire Spiff, a platform that specializes in automating commission management for sales teams. The financial terms of the deal were not disclosed.
Key Points:
- Salesforce is acquiring Spiff, a commission automation platform, to enhance its Sales Performance Management software.
- Spiff has developed a low-code interface that simplifies the creation of sales compensation plans and provides real-time commission visibility to sales representatives.
- Upon completion of the acquisition in early 2024, Salesforce plans to integrate Spiff within its Sales Performance Management software.
- This acquisition aligns with Salesforce’s strategy of integrating established companies from its ecosystem into its operations, with a focus on low-code solutions.
Spiff, founded in 2017 and based in Sandy, Utah, specializes in commissions, finance, sales, spreadsheets, sales performance, software, SAAS, sales performance management, incentive compensation, sales software, incentive compensation software, sales management, calculating commissions, commission management, automated commissions, sales reps, commissions calculator, compensation plans, and manage commissions. The company has raised over $110 million in funding over six years, with Salesforce Ventures contributing to its funding rounds.
Spiff has developed a low-code interface that simplifies the creation of sales compensation plans. The plans automatically update based on the achievement of pre-set targets by sales personnel, making it easier to manage complex commission structures and conditions for triggering payments. Additionally, the platform provides real-time commission visibility to sales representatives.
Upon completion of the acquisition, Salesforce plans to integrate Spiff within its Sales Performance Management software. This product connects customer and sales team data within the Salesforce CRM ecosystem. The acquisition of Spiff follows Salesforce’s approach of integrating companies from its ecosystem, as observed in previous acquisitions and investments.
This acquisition aligns with Salesforce’s ongoing strategy of integrating established companies from its ecosystem into its operations, with a focus on low-code solutions. Salesforce has been actively acquiring and investing in companies that align with its vision and technology offerings.
In conclusion, Salesforce’s acquisition of Spiff highlights its commitment to enhancing its Sales Performance Management software and providing comprehensive solutions for sales teams. The integration of Spiff’s commission automation platform within Salesforce’s ecosystem is expected to streamline commission management and improve sales performance for Salesforce customers.