Salesforce has signed a definitive agreement to acquire Spiff, a provider of a new class of incentive compensation management (ICM) software that combines an intuitive low-code UI, the familiarity of a spreadsheet, and a powerful processing engine to drive commissions automation at scale.
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.
“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,” says Ketan Karkhanis, EVP & GM, Sales Cloud.
“Spiff connects what sellers want – transparent compensation – with what sales leaders want – compensation planning built into CRM that aligns behaviors to strategic outcomes.”
The addition of Spiff to Salesforce will empower CROs to better align with financial and sales operations teams to easily self-manage complex incentive compensation plans and understand the factors propelling revenue performance to drive top-line growth.
“I’m excited about the future of Spiff and about what this means for the world of SPM and ICM in general,” says Jeron Paul, CEO of Spiff.
“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.”
Spiff is available on the Salesforce AppExchange and has partnered with Salesforce for years. More than 70 percent of Spiff’s customers use Sales Cloud as their CRM. Spiff is also a Salesforce Ventures portfolio company.
Salesforce looks forward to welcoming the Spiff team to the Salesforce family once the acquisition closes, which is expected to occur in the first quarter of Salesforce’s fiscal year 2025, subject to customary closing conditions.
This transaction does not result in any change to Salesforce’s current financial guidance previously provided on November 29, 2023 and we will not be disclosing any further financial details.