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

  • California Consumer Privacy Act (CCPA)

    The California Consumer Privacy Act (CCPA) is legislation in the state of California that supports an individual's right to ...

  • compliance audit

    A compliance audit is a comprehensive review of an organization's adherence to regulatory guidelines.

  • regulatory compliance

    Regulatory compliance is an organization's adherence to laws, regulations, guidelines and specifications relevant to its business...

SearchSecurity

  • privilege creep

    Privilege creep is the gradual accumulation of access rights beyond what an individual needs to do his job. In IT, a privilege is...

  • BlueKeep (CVE-2019-0708)

    BlueKeep (CVE-2019-0708) is a vulnerability in the Remote Desktop (RDP) protocol that affects Windows 7, Windows XP, Server 2003 ...

  • endpoint detection and response (EDR)

    Endpoint detection and response (EDR) is a category of tools and technology used for protecting computer hardware devices–called ...

SearchHealthIT

SearchDisasterRecovery

  • 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. 

  • business continuity software

    Business continuity software is an application or suite designed to make business continuity planning/business continuity ...

SearchStorage

  • Hadoop as a service (HaaS)

    Hadoop as a service (HaaS), also known as Hadoop in the cloud, is a big data analytics framework that stores and analyzes data in...

  • blockchain storage

    Blockchain storage is a way of saving data in a decentralized network which utilizes the unused hard disk space of users across ...

  • disk mirroring (RAID 1)

    RAID 1 is one of the most common RAID levels and the most reliable. Data is written to two places simultaneously, so if one disk ...

Close