Commissions
The Commissions module provides straightforward commission calculations
based on multiple conditions and ensures commission payments based on custom criteria. It provides the features you need to keep track of and pay commissions accurately in accordance with different performance measures.
Flexible solution for multi-tiered commission calculations
The Commission modules supports managing and calculating commissions using an extensive range of criteria. It facilitates the process of calculating reimbursements based on different criteria such as the line of business, product, risk, coverage, portfolio, quantity, and targeted amount. It can also be used to split commission amounts among participants.
Use the module to simplify commission calculations, approvals, and payments through the accounting pay-out process.
The Commissions module leverages the data from, and is tightly integrated with, other AdInsure business modules such as the Sales, Policy Management, and Billing and Collection. It also serves as a data source for the company’s financial obligations in the Accounting module.
Key features
Agent agreement management
Easily define the agent agreement scope, commission criteria, and the terms for the commission plans' realization. Allow business users to manage complex compensation rules over the amending process.
Commission calculation rules inheritance and substitution
Define commission calculation rules with the inheritance of criteria and fully customizable rules from the agent agreement portfolio.
Commission rules
Define different commission calculation rules, such as rules grouped by line of business, product, coverage, or sub coverage. Set up split commissions’ rules easily.
Commission calculation process
Commission calculations are based on multiple rules taking into account the effective date frameworks that are used for gross commission calculation, earned commissions, and the commission amounts to be disbursed.
Approval process
Provide a simple approval process of commission amounts by sales managers and the accounting department.
Commission adjustment
Support higher pay rates that can be formed during the commission approval process. The commission adjustment can be approved by the sales manager or triggered by a custom specific business rule.
Automatic transaction postings
Use the predefined posting scheme to ensure secure automatic posting of each transaction related to accounting payable commission amount into the purchase journal.
Overviews
Provide users with a comprehensive dashboard of all agent agreement contracts stored in the system and insight into the completed calculation processes and commission amounts.