CaptivateIQ has unveiled its real-time commission platform built specifically for enterprise scale.
The new SmartGrid brings both speed and scale to enterprise commissions by managing, modeling and calculating them at a scale of up to 50 million records of data per sync and a speed of 12 seconds to process calculations with 10 million source transactions, CaptivateIQ said in a Tuesday (Nov. 14) press release.
“As enterprises look to the future, they are realizing the traditional way of managing commissions — where they have to compromise between speed or scale — is no longer sustainable,” CaptivateIQ Co-Founder and Co-CEO Mark Schopmeyer said in the release. “That’s why we’ve set out to build the future of enterprise commissions with SmartGrid, empowering our customers to manage their incentive programs with ease, no matter how large or complex.”
Prominent companies have already leveraged CaptivateIQ’s SmartGrid to transform their commissions programs from cost centers into efficiency drivers, according to the release.
The benefits of using SmartGrid include the ability to go live and adapt plans in a fraction of the time, adapt to market changes in seconds, run complex commission calculations in minutes, empower reps with anytime earnings visibility, and operate more intelligently with real-time reporting, the release said.
“Payees no longer need to wait for one to two weeks after month close before seeing expected payment amounts,” Sean Emberley, sales operations analyst at Planview, said in the release. “They now have the option of previewing updated pay statements in real time as deals close.”
SmartGrid is the latest addition to CaptivateIQ’s suite of commission management solutions, which also includes the SmartGrid ELT engine for real-time data management, according to the press release.
CaptivateIQ’s incentive compensation management solutions serve leading companies and aim to automate commissions, motivate sellers and provide unprecedented visibility into important metrics, ultimately driving faster close times, reducing payout errors, and improving sales performance, the release said.
In another recent development in this space, payment services provider Worldline introduced a flexible commissions payout feature in October, saying it allows software and independent sales organization partners to choose the frequency at which they receive their revenue-sharing profits.
Called FlexCommissions, this feature allows partners to receive profits daily, weekly, monthly or any other period that suits their business needs.