Save time, enhance reliability, and transparency when calculating your sales team’s commissions with our ready-to-use table template.Use this template
One Table for All Your Needs
With 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!
Each Salesperson Only Sees Their Information
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.
Save Time and Gain Clarity with Automatically Calculated Formulas
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.
Why Implement a Commission Plan?
How to Calculate the Amount of a Commission?
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:
- The product sold: This allows focusing sales efforts on specific products, such as new or more challenging goods. In practice, the commission percentage may be higher for these products, either temporarily or permanently. It is also possible to exclude certain products from the commission plan.
- Customer type: Often used when acquiring a new customer to incentivize opening new accounts.
- Quantity: A decreasing rate helps control compensation costs and evens out sales. Salespeople may be more inclined to spread sales throughout the year rather than selling as much as possible in a limited time frame.
- Discounts: The use of discounts is a sales tactic aimed at facilitating sales. The commission percentage may vary based on the discount offered by each salesperson.
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.
The Benefits of Using a Commission Calculation-and-Tracking Table
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!
Time Savings in Commission Calculations
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.
Real-Time Monitoring of Commissions Amounts
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.
How to Implement a Commission Tracking Table in Your Company?
Adaptable to Your Commission Plan
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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