Fintech CaptivateIQ Identified as Strong Performer in Sales Performance Management in New Industry Report

CaptivateIQ is recognized as a “Strong Performer” in Forrester’s new report, “The Forrester Wave: Sales Performance Management Platforms, Q1 2023.”

The report reportedly “uses 25 criteria to evaluate 11 sales performance management (SPM) providers.”

CaptivateIQ was recognized for “having an enterprise roadmap that has ‘delivered an enterprise-grade solution with a complete incentive compensation product that is robust enough to support the most complex requirements’.”

The CapitivateIQ team believes their scores “in the criteria of product vision, market approach, and execution roadmap set their modern solution apart in setting the standard of excellence within the sales performance management industry.”

According to their State of Sales Compensation Report, 95% of sales reps “agree that the right technology stack is essential to meeting their revenue goals and rank compensation software amongst their most indispensable tools.”

Sales commission is now “a strategic lever for achieving revenue goals — if managed effectively.”

Businesses are “turning a critical eye to budgets and must consider the gravity of incentive compensation.”

With commissions often being the largest go-to-market (GTM) expense, businesses have the opportunity “to increase efficiency and ROI of incentive compensation by using insights and real-time reporting.”

But for many teams, just getting compensation “calculated and administered is still costly, rigid, and time-consuming.”

Their team has reportedly “spent a lot of time developing and executing a product roadmap that is designed to make compensation processes more intuitive and flexible, as evidenced in the report.”

The firm claims that CaptivateIQ’s product “makes the hard parts of compensation easy while providing a flexible, intuitive interface that works like Excel but with powerful data management capabilities and compensation-specific calculations.”

The team is pleased that CaptivateIQ “received the highest score in the strategy category across all vendors — with the highest scores possible in eight criteria,” including:

  • Product vision
  • Market approach
  • Performance
  • Innovation roadmap
  • Execution roadmap
  • Data management
  • Calculation processing
  • Implementation

As they see it, CaptivateIQ was “not only recognized for its exciting future, but in a peer group of primarily established players who originated in on-premise, our modern solution was ahead of its class.”

Mark Schopmeyer, Co-Founder and Co-CEO of CaptivateIQ,

“We built our product infrastructure to evolve with our customers, giving them the flexibility and adaptability they need to be successful,”

This is “reflected by a high Net Promoter Score and customers noting “how easy it is to use.”

When CaptivateIQ entered the SPM space in 2017, they claim to have set out to serve “SMB and mid-market customers that, in the past, could not justify the time and cost required to invest in a traditional SPM platform,” as cited in the report.

Each year more brands “trust” CaptivateIQ “with agile compensation management, and they  think the Forrester report demonstrates the strong position CaptivateIQ continues to hold in the modern SPM space.”

The team added that they are pleased “to be the only modern SPM provider recognized by Forrester as having an execution roadmap” that “delivers an enterprise-grade solution” with “a complete incentive compensation product that is robust enough to support the most complex requirements.”

CaptivateIQ is a fit “for companies of all sizes that need an efficient and effective tool to manage their incentive compensation needs.”

The team says it is continuing to invest in accelerating core product innovations that empower all teams involved in the compensation process within our three investment themes this year:

  • Simplify Commission Administration: Build, maintain, and administer sales commission plans with ease.
  • Maximize Returns on Incentives: Unlock insights to improve performance and efficiency across sales and finance teams.
  • Manage Enterprise Complexity: Automate complex workflows and maintain control over incentive compensation programs at scale.
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