CaptivateIQ Expedites Time-to-Payroll for Revenue Teams with New Solution

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Mar 13, 2024, 11:30 ET

Enterprise Workflow Automation brings intelligence, automation and flexibility to complex commission processes, driving efficiency and timely payouts

SAN FRANCISCO, March 13, 2024 /PRNewswire/ -- CaptivateIQ, a leading incentive compensation management (ICM) solution, today introduced Enterprise Workflow Automation, a solution that enables compensation administrators to build intelligent and automated commissions workflows that fit their specific business needs and ultimately expedite Time-to-Payroll (TTP).

TTP serves as a critical benchmark in evaluating the efficiency of a company's commissions process. However, once commissions calculations are run, compensation administrators and revenue teams often face weeks of painstaking reviews, disputes, and approvals that span different teams and systems. This manual orchestration can lead to communications sprawl, error-prone outputs, and, inevitably, delays in getting commissions paid out – which not only takes up significant time for the admins, but in turn impacts team performance and motivation.

As the foundation for Enterprise Workflow Automation, CaptivateIQ designed a Custom Workflow Builder to save compensation teams time while keeping sellers motivated through faster delivery of incentives. Available immediately is the ability to build custom workflows for one of the most common and lengthiest parts of the TTP process: inquiry approvals. With Custom Workflow Builder, admins can build intelligent workflows that define unique inquiry types, automate inquiry assignment, add approvals to those inquiries and offer visibility into those approvals all in one place.

Looking forward, CaptivateIQ will build reviews, processing, and adjustments into the Custom Workflow Builder to cover the entire gamut of activities in the commissions to payroll process. The flexibility to automate any commissions workflow through CaptivateIQ's no-code platform will cut down on manual triage, create a source of truth for communications, help ensure accurate data adjustments, and drive a more efficient commissions process.

Based on a 2024 CaptivateIQ customer survey, CaptivateIQ users see an average reduction of 31% in TTP, from 14.7 days to 10.1 days and, in some cases, much more. "Since implementing CaptivateIQ, Showpad has reduced the time it takes to process payouts from one month to 12 days – a 60% time-saving," said Alex Wu, Financial Analyst at Showpad.

Today's announcement opens even more opportunities for improvement. "Our vision is to introduce intelligence, automation and flexibility into every step of the commissions process to reduce TTP, no matter the complexity or size of the organization," said Mark Schopmeyer, co-founder and co-CEO of CaptivateIQ. "These efficiency gains will help both revenue and compensation teams be more productive, allowing sellers to focus on bringing in revenue and admins to up-level their day-to-day from tactical to strategic."

To learn more about CaptivateIQ's new Custom Workflow Builder and how it fits into the company's longer-term plans for the full Enterprise Workflow Automation suite, read this blog.

For more information on how to measure and optimize your organization's Time-to-Payroll, read this blog.

About CaptivateIQ

CaptivateIQ offers the most flexible way to automate commissions, motivate sellers, and captivate with insights. Leading companies such as Carta, Gong, and Intercom rely on CaptivateIQ to provide world-class technology, real-time transparency, and unprecedented visibility into their most important metrics, driving faster close times, reducing costly payout errors, and improving visibility into sales performance. For more information, visit www.captivateiq.com.

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SOURCE CaptivateIQ