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QCommission enables you to quickly calculate commission, verify results and distribute this information to your agencies, agents, brokers and staff. You can present the commission information in such a way that the sales people clearly understand what they are being paid and why they are being paid at a very detailed level. Excel and manual calculations can introduce a lot of errors into your calculations and cause your sales people to lose trust in you. QCommission can help avoid that by calculating all commissions systematically and reliably.
Calculate Accurately with Flexible Rules
QCommission provides a lot of flexibility to set up commission plans that are unique to your company and your staff.
- Pay commissions for multiple business units and products within the bank.
- Pay to many different job roles: Teller, branch/sales manager, Loan Officer, Territory Manager, Vice President, etc.
- Pay for Retail, Mortgage/Auto Lending, Commercial Lending, Wealth Management and other divisions and products
- Pay commissions differently by different products such as Savings, Loans, Credit Cards, Deposits, Investments, etc.
- Pay commissions on revenue, units sold, profitability and score cards.
- Deduct various fees such as Processing Fees from commission.
- Pay flat amount of commission per unit of product sold.
- Pay different commission rates by tiers of goal attainment.
- Pay Referral Fees
- Split commissions between multiple payees.
- Provide splits and overrides to Loan and Branch Managers.
- Deduct non-income related expenses such as Marketing from overall commissions.
- Calculate loan volume based bonuses and pay them Quarterly or Annually.
- Pay weekly, twice-monthly, monthly, quarterly
- Calculate commissions by effective date of branch participation.
- Pay draws or guaranteed payouts.
- Calculate minimum wage guarantee payments.
QCommission is designed to integrate with MS Dynamics, Salesforce.com, QuickBooks, Byte and Calyx Point. QCommission can also accept Excel, fixed file and delimited format files. QCommission can also operate stand-alone.
- Import data from Sales/Accounting Systems including Invoices, Expenses, Payees, Customers and Products.
- Import from Byte files, Calyx Point files, Excel, and fixed or text-delimited files.
- Restrict Transaction import using a date range.
- Export Commissions directly back to Accounts Payable or Payroll
- Export data to Excel, and fixed or text-delimited file formats.
The QCommission Plan describes an individual’s sales commission plan in detail.
- Calculate payouts weekly, bi-weekly, monthly, bi-monthly, quarterly , etc.
- Have multiple commissions and bonuses per plan
- Create unique plans for every payee.
- Share plan calculations among payees.
QCommission stores all data entered and all payout calculations.
- Produce detailed commission statements by payee.
- Reproduce commission statements for prior periods.
- Report on split credits and uncredited transactions.
- Analyze historical transaction and payment information
- Email commission statements to payees.
- View commission statements through the web
Busey Bank banks on QCommission for sales commission for more than 7 years.
First Busey Corporation is headquartered in Urbana, Illinois, with two wholly-owned banking subsidiaries and a wholly-owned brokerage and investment company. Busey Bank is headquartered in Champaign, Illinois, and has forty banking centers throughout downstate Illinois. Busey Bank has a banking center in Indianapolis, Indiana, and a loan production office in Ft. Myers, Florida. Busey Bank, N.A. is headquartered in Ft. Myers, Florida, and has nine banking centers serving Lee, Charlotte and Sarasota Counties. FirsTech, Inc., a wholly-owned subsidiary of Busey Bank, N.A., provides payment processing solutions to customers throughout the United States. Busey Wealth Management provides investment management and trust services to individual and institutional customers throughout the United States. Busey Wealth Management has more than $4.1 billion in assets under care.
Busey Bank looked for a solution to keep track of mortgage commissions and overages paid by loan officer. They wanted a system that was easy to use, auditable and could receive the loan information from their Loan system.
Commissions are calculated by the Loan Officers and the results sent to Accounting for verification and payment. Verification of the loan information to calculate commissions was time consuming. All commission calculations were managed using Excel files making verification and reporting difficult, cumbersome and time consuming. Excel spreadsheets were error prone and were in various formats.
According to Gary Jackson, Sr. Vice President, “the QCommission solution very clearly showed its suitability to the mortgage commission process of our bank. It was an easy decision to make.”
Busey Bank had to delay the start of the project due to some other business needs and CellarStone was able to accommodate that. Configuration and testing by the QCommission Implementation Team was fairly quick working jointly with the Busey Bank Team
Testing highlighted some exceptions which were quickly resolved. Training was accomplished over a couple of sessions and after a single period of running in parallel; Busey Bank went live with QCommission.
Commissions are now calculated quickly and accurately. Changes to the commission structure are handled easily by the administrator. The Loan Officers made the transition from calculating their own commissions to receiving statements reflecting the accurate calculation without having to manually track and calculate themselves freeing up their time and effort. The effort required by the administrator is significantly less because the verification process is simpler and less time consuming. Additionally the effort to import and calculate takes very little time.
Busey Bank can now make changes to their commission structure where in the past there was always a concern about the impact and effort required to affect those changes. Since the elimination of the manual process, accuracy and timeliness is less of a concern.
“Having the QCommission system is a huge improvement from the manual process we used previously. It has allowed us to enhance our commission structure in a way we could not have done with the manual system. It has saved us substantial time and effort”, says Gary.