Save time, enhance reliability, and transparency when calculating your sales team’s commissions with our ready-to-use table template.
Use this template
Save time, enhance reliability, and transparency when calculating your sales team’s commissions with our ready-to-use table template.
Use this templateWith this table, you have multiple options. You can use it as a tool for communicating commission information to your sales team and as a simulation tool where your salespeople can enter their figures to estimate their commissions. No more unpleasant surprises, thanks to increased transparency!
Through line-by-line sharing, you fill a single table with information for all your salespeople, but they only have access to their respective lines. No need to split your Excel file to share it with your team. Save time and increase accuracy.
This table includes pre-built formulas to allow you to focus on collecting, analyzing, and visualizing your data. Everyone benefits: you save time, and your sales team’s commissions are calculated in real-time with complete transparency.
Commissions: What Are They?
Commission is a sum of money paid to salespeople when a sale is made. The most common basis for a commission is revenue, but it can also be based on the profit made from the products sold.
A commission is typically used to compensate sales teams and complements a fixed salary. It is a recruiting incentive, as an attractive commission plan can help companies attract experienced professionals.
That is not its primary purpose, however. Commission plans primarily serve to motivate a sales team, drive their actions, and incentivize sales.
How To Implement a Good Compensation Plan?
A good compensation plan is one that the sales team fully embraces. This is crucial for its successful operation.
To achieve this, the commission plan must:
Simplifying Commission Calculations and Monitoring
Simplicity is key in when calculating commissions. The simplest solution is to pay salespeople a fixed percentage of the generated revenue; this percentage does not change; it is a fixed-rate commission.
For example, Mr. If his last sale amounts to €10,000, Mr. X will receive €300.
However, the use of differentiated rates is quite common. This involves varying the commission amount based on:
Depending on the industry, the products sold, their specifics, and competition, commission structures can vary significantly from one company to another. Therefore, there is no one-size-fits-all approach, and finding the right commission plan can take time and require iteration.
Calculating commissions can be complex, especially with differentiated rates. Implementing a collaborative commission calculation and tracking table offers several advantages, as listed below—especially if it is collaborative and easy to use, like the one offered by RowShare!
Once the commission calculation table is established, salespeople can fill it directly, regularly, or when a sale is made. Information is not scattered across various communication channels (i.e., emails, Excel files, etc.), and there are no back-and-forths.
Moreover, commission rates are associated with sales, and commission amounts are automatically calculated.
By providing a commission tracking table that is accessible to all sales-team members and their managers, you create a single reference point for everyone to check their progress, commissions to-date, and more. Information flows smoothly and transparently between the salespeople and their managers.
As mentioned earlier, salespeople can directly enter completed sales into the table. In addition to saving time, the sales team retains control and visibility over their variable compensation. This provides a tangible view of the impact of their sales efforts on their earnings, thereby maintaining motivation.
The commission-tracking table can be easily shared within the organization and externally, such as with resellers. RowShare allows you to customize sharing. Specifically, you can decide on the view provided to salespeople—either a comprehensive view of all commissions for each team member or a more individualized view where each salesperson sees only their commissions—and managers have access to an overall view of the table.
This table is easy to update, allowing salespeople to regularly update it. The benefit is twofold: Managers have access to accurate, up-to-date information, and salespeople are more motivated as they see the regular impact of their sales efforts on their compensation.
Beyond tracking commission amounts, this table provides an opportunity to monitor overall sales-team performance and goal achievement.
As mentioned earlier, commission plans are unique to each company. While the template we offer is ready-to-use, it can be easily adapted to your specific needs. We can assist you in creating the ideal table that aligns with your variable compensation policy by customizing the existing model with you. Feel free to reach out to us!
RowShare is a user-friendly tool. It is easy to get started and quick to deploy within sales teams, which makes it easier for everyone to embrace the system.
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Rowshare makes it easy for teams to collaborate to get the same information in a simple and seamless way. It also provides easy access to stored data! At Rowshare, customer service is also quick and responsive, despite being in New York and Rowshare in France. Read the notice
Overall, this is the best online collaborative spreadsheet software to date. It is easy to use and has all the important features. Read the notice
The tool is very user-friendly and can be customized according to the needs which are the most desirable features. Thus, we can perform our daily tasks more easily and efficiently and save valuable time. I also appreciated the customer support they offer. Read the notice
Collaborative, simple and reliable.
Rowshare is the first spreadsheet designed especially for managing projects and organizing administrative tasks.
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