![]() We quickly realized that our portfolio companies were hardly unique in choosing CaptivateIQ, which now serves several hundred customers including 28 of the Forbes Cloud 100-an annual list of the leading private cloud companies in the world. They also benefited from CaptivateIQ’s built-in collaboration and reporting tools, which enabled seamless communications between sales professionals and compensation plan administrators. These companies underscored the enormous value they realized from the platform, noting that CaptivateIQ’s logic-based modeling platform could handle diverse compensation plans of varying complexity. We initially learned of CaptivateIQ through several of our portfolio companies that had decided to accelerate their sales commissions efforts by making the transition from spreadsheets or legacy software to CaptivateIQ. Today, we’re excited to forge ICONIQ Growth’s partnership with Conway, Mark, Hubert, and the entire CaptivateIQ team. Equipped with hard-earned experience managing commissions plans, the CaptivateIQ founders set out to build a cloud-based commissions platform that gives businesses the flexibility to build any compensation plan, integrate various data sources, and manage complex workflows relating to sales compensation. ![]() In their former roles, Mark and Conway had experienced firsthand the pain points associated with calculating commissions using manual methods and error-prone spreadsheets. When we first met Conway Teng, Mark Schopmeyer, and Hubert Wong, the co-founders of CaptivateIQ, we were intrigued by the modern sales commission software they had developed. This bad dream of a scenario might sound familiar to many sales and finance leaders who have struggled to manage commissions payouts. You start to do the calculations manually to avoid overpaying or underpaying your reps, turning an otherwise triumphal moment into a very long night. The spreadsheet your team used to calculate these payouts is riddled with “#REF!” errors and largely unworkable. What should be cause for celebration becomes cause for concern when you realize that you must now calculate commissions payouts for dozens of sales reps based on meticulously crafted compensation plans with complicated accelerators and incentives for multi-year deals. Imagine that you run the sales organization at a company that has just beaten its quarterly sales goal.
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