Browse Definitions :
Definition

SPIF (sales performance incentive fund)

A SPIF (sales performance incentive fund) is a financial incentive that encourages a sales representative to sell a specific item or group of items. The term is often used as a synonym for the word "bonus."   

SPIFS are often used by vendors and employers to introduce new products to the market or increase sales within a specific time frame. The incentive may be a cash bonus or rebate -- or a prize, such as a vacation, car or club membership. 

The origin of the term is murky, but it is generally thought to have something to do with the slang phrase "spiffed up," which means to enhance the way something looks.  Spif is also spelled spiff or even sometimes spiv, which is (ironically) a synonym for a well-dressed con artist. 

 

Dig Deeper:

Rebates get channel makeover
Vendors often use spifs to compensate partner sales reps and technical reps for taking the time to learn about their products. 

Rebates: Love them or hate them
Vendors offer SPIF payments to resellers that sell designated products during a particular promotion period.

This was last updated in November 2010

Join the conversation

1 comment

Send me notifications when other members comment.

Please create a username to comment.

Do you have more information on the taxability of spiff payments to employees.
Cancel

-ADS BY GOOGLE

File Extensions and File Formats

Powered by:

SearchCompliance

  • risk management

    Risk management is the process of identifying, assessing and controlling threats to an organization's capital and earnings.

  • compliance as a service (CaaS)

    Compliance as a Service (CaaS) is a cloud service service level agreement (SLA) that specified how a managed service provider (...

  • data protection impact assessment (DPIA)

    A data protection impact assessment (DPIA) is a process designed to help organizations determine how data processing systems, ...

SearchSecurity

  • cybersecurity

    Cybersecurity is the protection of internet-connected systems -- including hardware, software and data -- from cyberattacks.

  • encryption

    Encryption is the method by which information is converted into secret code that hides the information's true meaning. The ...

  • computer worm

    A computer worm is a type of malicious software program whose primary function is to infect other computers while remaining ...

SearchHealthIT

SearchDisasterRecovery

  • business continuity plan (BCP)

    A business continuity plan (BCP) is a document that consists of the critical information an organization needs to continue ...

  • disaster recovery team

    A disaster recovery team is a group of individuals focused on planning, implementing, maintaining, auditing and testing an ...

  • cloud insurance

    Cloud insurance is any type of financial or data protection obtained by a cloud service provider. 

SearchStorage

Close