Commission schedules can be based upon the following standards: Monthly, Quarterly, Half Yearly, Annual, Weekly, Bi-Weekly, Twice-Monthly,User definable processing schedule, Multiple periods, Multiple years, Multiple calendars
Payees are entities that receive variable payouts. Payees can be employees, external individuals or external companies. Payees can be employees, non-employees, companies, can have different roles, payees can be associated with organizational units, payees can report to specific managers, payee contact information is available, payee email id can be stored, payee salary can be stored, payee can have hire and termination dates, payee can be made ineligible for calculations, payees can be added online, payees can be imported into the system, payees can use their own currency for payouts, payee can have a unique commission plan,
payee can be associated with unique commission statement formats, payee can have a unique and current message, payee can keep track of job changes, payee can have work hours data, payee can have unique General Ledger accounts, payee can access the system, payee can have Notes.
A sales organization can have a hierarchical relationship. A sales organization can have relationship levels. A sales organization can be made up of any sort of organizational entity. A sales organization can be many different Lines of Businesss/Business Units amd Channels. A sales organization can be associated with unique commission statement formats. A sales organization can be based on crediting. A sales organization can use effective-dating.
Customers are the firms and individuals to whom sales is made. It can be Customer Based Crediting, Customer Group Crediting, Customer Crediting for multiple reps. It can be unique commissions by customer. It can be Customer address information or Customer demographics or Customer Groups. It can Customer relationship dates, customer jobs, customer amounts. All customers can have notes.
Reduce errors in sales commissions calculation
Doing commissions in Excel introduces a tremendous number of errors into the calculation. A structured commissions system like QCommission can reduce the number of errors in commissions and consequently save the company a lot of money.
Pay Commissions on time
Manual processes to calculate sales commission can take significant amounts of time and payments can sometimes be thirty or more days late. This causes reconciliation issues and dissatisfaction among the salespeople. An automated sales commission system can allow calculation of payments as quickly as you want. Calculations can even be done during the period to estimate potential payments and for accruals.
Complex Commissions Plans
Sometimes commission plans that suit the needs of the business may not be implemented because of the difficulty of establishing the plan and administering them. QCommission allows the establishment of complex plans and eases the administration.
QCommission maintains all the data involved in calculating commissions. This allows the production of clear and complete commission statements to the field. More transparent communication means less confusion among the salespeople and less queries and problem solving effort regarding commission issues.
Complete Reporting Ability
With all transactions and calculations stored in the system, QCommission allows the ability to report comprehensively on sales commission information. An analytical component allows the user to slice and dice the information available in QCommission in various ways. Additional reports can be easily created from the basic system.
Integrated with QuickBooks™
If you have QuickBooks™ installed, a lot of time and effort can be saved in getting the data into your commissions system. The number of errors in data entry can be reduced.
Can operate standalone
QCommission can operate standalone without reliance on other systems. QCommission can be used in conjunction with any other systems as long as the data can be imported or keyed into the QCommission application.
Track Sales, Commissions and Bonus
QCommission allows the loading of all sales and other performance data. Sales information can be tracked using QCommission. In addition commissions and bonuses can be tracked independently for the full plan duration. Tracking sales and performance allows management to clearly identify good and poor performers whether in the products/services or among the sales people.
Reduce Administrative Time and Effort
Due to the reduction in errors, the automated nature of calculations, data integration, clear reporting, Computer Administrators can expect to reduce the effort required to calculate and pay commissions significantly.
Reduce Administrative and Overpayment Costs
Savings of time spent in administering the compensation plans and resolving issues can help in reducing administrative costs. Errors in sales commission calculation favoring salespeople typically does not get reported, whereas errors favoring the company gets reported typically. Accurate calculations can save the company significant expenses in over payment of commissions.
Increased trust and morale
Having been burned by inaccurate calculations the salespeople usually distrust the commission calculation process. The automation of the calculation process, with access to all the data, clear reporting of any calculation allows the salespeople to develop trust in the process and increase their morale.
With salespeople not engaging in ‘shadow accounting’ of their commission statements, they are more likely to focus on selling activities with potential increases in revenue to the company. With reduction of the administrative effort, comp administrators can spend more time on value added work rather than purely administrative tasks.