At Palette, we believe that administering sales commissions should be frictionless and automated. Our vision is to build a product which makes it easy for plan administrators to reconcile data, calculate commissions, manage payouts, make adjustments, and provide visibility to their organizations and sales reps - all without time-consuming manual work.
One of the major pain points our customers face with commissions is making adjustments and correcting errors. When an SDR forgets to update a demo, or an AE forgets to mark a deal as closed/won, for example, corrections can be a pain. Palette is launching a new feature to make this process easier, available free of charge to all customers.
Beginning this Wednesday, May 24th, all customers will see an updated Statements tab, with the option to Mark Commissions as Paid. In addition to commission approvals, you will now be able to mark commissions as paid for everyone at the click of a button, or filter to specific teams or reps. (Note that once a commission is marked as paid, it cannot be undone). You’ll be able to see all approvals and commissions marked as paid at a glance in the Statements tab.
If there are any changes to past commissions marked as paid, Palette will provide suggestions on how to adjust commissions in the current statement, so you don’t have to do them manually. You can accept the adjustments, or edit them yourself if necessary.
With this new update, we’ve also added the ability to set your statement cycle frequency to weekly or bi-weekly, in addition to monthly and semi-monthly. You can make this change in the settings tab. For the first period, you may see a duplicate period in your statements tab - feel free to ignore the duplicate period with your old frequency.
For more information about this new feature, take a look at our explainer video. We hope this will make commission adjustments easier for your team.