Salesforce has completed its acquisition of Spiff, a compensation management (ICM) software solutions provider, via the signing of a definitive agreement.
Notably, Spiff provides a low-code processing engine to scale and accelerate commission automation.
Jeron Paul, CEO of Spiff, explained:
I’m excited about the future of Spiff and about what this means for the world of SPM and ICM in general. We have always taken pride in Spiff’s pace of innovation and I’m grateful for the opportunity to make an even deeper impact on the space as part of the Salesforce ecosystem.
Following the acquisition, Spiff’s CX application will become available on the Salesforce AppExchange platform – ready for its extensive user base.
Moreover, Salesforce notes that 70 percent of Spiff’s existing customers already leverage SalesCloud as their primary CRM service, making the transition seamless for many end users.
Salesforce has also worked alongside Spiff as a partner “for years,” with the recently acquired company already acting as a long-term portfolio company of Salesforce Ventures.
Ketan Karkhanis, EVP & GM, Sales Cloud, noted, “Spiff connects what sellers want – transparent compensation – with what sales leaders want – compensation planning built into CRM that aligns behaviors to strategic outcomes.”
Karkhanis also added:
CROs and financial leaders know the importance of compensation in driving rep behavior. The challenge these leaders face is in how to align these compensation plans to desired outcomes – all while navigating data across siloed-point solutions. After the acquisition closes, the Spiff organization will join Sales Cloud, working to enhance Salesforce’s Sales Performance Management solutions by providing customers with a trusted platform to increase visibility, supercharge selling & unlock growth.
Salesforce also notes that completing the Spiff definitive agreement will not change Salesforce’s financial guidance.
SalesForce’s Early Move Towards the Spiff Acquisition
Salesforce first started its move towards acquiring Spiff in December last year. With its most recent definitive agreement move, Spiff will become part of “the Salesforce family”, with estimations forecasting that the acquisition will close during Q1 of the fiscal year 2025.
Salesforce will embed Spiff within Sales Cloud, therefore enhancing native performance management tools.
During the December moves, Karkhanis explained that CROs and financial leaders “know the importance of compensation in driving rep behavior. The challenge these leaders face is in how to align these compensation plans to desired outcomes – all while navigating data across siloed-point solutions.”
Spiff’s goal as an independent entity and now as part of the Salesforce family is to provide transparent compensation built into CRM that also aligns behaviors to strategic outcomes.
The recently acquired firm achieves its goals by offering real-time visibility into commission reports for sales reps and improved management tools for leaders working with complex team structures, users, documents, and approval workflows.
Moreover, Spiff brings countless other valuable features to Salesforce customers, such as scalability, analytics, and integration-friendly design, allowing businesses to pull together compensation plans quickly.
Jeron Paul expressed his excitement in December about bringing the company’s capabilities to Sales Cloud, stating that he is thrilled about Spiff’s future and its impact on the world of SPM and ICM.
Jeron also mentioned that Spiff has always been proud of its pace of innovation and is grateful for the opportunity to make an even more profound impact on the industry as part of the Salesforce ecosystem.
