Meet palettea software-as-a-service startup that will be especially interesting if you are in addition Running a Software-as-a-Service startup. The company has developed a modern tool to design, manage and optimize sales commission plans for your in-house team.
Earlier this year, the startup raised a $6 million funding round led by Bain Capital Ventures. Also participating in the round were Liquid 2 Ventures, Twenty Two Ventures and Kima Ventures, as well as several business angels including Mathilde Collin, Nicolas Dessaigne, Julien Lemoine, Nick Mehta, Allison Pickens, Thejo Kote, Kyle Porter, Adam Pettit, Danny Zorotovich and Peter Kazany.
What sets Palette apart from other commission management solutions is its integration with many different sales products. For example, the product can pull data from all major CRM platforms (Salesforce, Hubspot, Close.io, Sellsy, Outreach, and Pipedrive), multiple billing services like Stripe, Chargebee, QuickBooks, and Xero, and raw SQL databases.
Once your data is centralized in Palette, the product can act as a single source of truth. You can set up multiple conditional rules and start testing different scenarios until you land on the right commission plan.
Members of the sales team can connect to Palette at any time and see how many deals they have closed this quarter and if they are on track to meet their quota. That way, they don’t have to track their progress in their own Excel spreadsheet.
When it’s time to pay out, you can export your commission data as a CSV file. It can be imported into major billing platforms such as Gusto, Rippling, Payfit, and ADP.
Names of Palette co-founder and CEO Jean-Edern Lorillon I agree, captivate IQ and spiff as potential competitors. But the reality is that many companies still rely on Excel spreadsheets to calculate commissions because of limitations.
For example, if you sell a product with different tiers and add-ons, you may end up comparing apples to oranges. If your customers pay more if they use the product more often, you should reflect this usage-based pricing in your commissions.
In other words, Palette wants to build the sales commission platform for businesses with customer success managers and ongoing sales operations. The startup is aimed at medium-sized companies with 100 to 1,000 employees. Some companies using Palette are Nextech AR, EverCommerce, Gorgias, Mews, Kandji, and GetAccept.
Palette sells a sales commission tool for modern sales teams – TechCrunch Source link Palette sells a sales commission tool for modern sales teams – TechCrunch