Commissions processing isn’t fun
There are many facets to commissions processing that can be stressful. Keeping track of all the commission statements coming in from the carriers, processing them, and then issuing the commission checks to the various agents is a lot to maintain. What parts of commissions processing is causing your agency grief?
- Are you struggling to process all of your commission statements?
- Are you not able to track as many commission splits as you’d like?
- Are your payments inaccurate?
- Are you missing some of your commission payments?
- Or do you just want to stop pulling long shifts every pay period just to process commissions?
I am suffering from some or all of those listed above. What should I do?
Look at your process now, and find where improvements could be implemented. Maybe you’re juggling all of your commissions by paper (yikes) or maybe you’ve got file on top of file of multiple Excel sheets on your hard drive. That’s a ton of work, not to mention it can slow down your computer. I’m impressed you’re still managing okay. But there are easier ways.
An AMS/CRM system could be your knight in shining armor
An Agency Management System (AMS) or Customer Relationship Management (CRM) system can streamline your commissions processing capabilities by automating your workflow and giving you more time in your day to get other work done. These systems help you reduce the amount of paperwork you are accumulating by retaining all the data you’ve previously entered within its own system and calculating the commissions independently. By utilizing these systems, your job of wading through piles of commissions statements is effectively terminated.
That sounds great! What else?
Another great advantage of an AMS/CRM is the ability to apply your commission structures to support an automated procedure. AgencyBloc, for example, has the capability to process multiple rates and hierarchies. You can then grow your business into the future and increase your agent base. All you need to do is simply tell the system the splits you’d like implemented and the system will handle the rest. The system then saves you time and headaches from manually calculating the various commission splits.
One of the hardest and most important parts of commissions processing is near impossible to do without the help of an AMS/CRM - the assurance of correct and complete commissions received from the carriers. An AMS/CRM can monitor all the statements received, ensuring that all commissions have been received and have been received correctly by alerting you through complete commissions reports.
An AMS/CRM system will save you time and money; it’ll make your day easier and each pay period more enjoyable. You can employ your workers to accomplish more than just simply inputting commissions reports. You will garner more with your money, and you will have more time to pursue the goals of your agency.
How can AgencyBloc save me?
AgencyBloc is an AMS that can simplify your life. Our software’s commissions processing function is our differentiator. We stand out by producing statement reports that help you track your payments received, inaccuracies, and missing payments. These reports paired with our brand new Actual vs. Projected feature will make your agency smarter by allowing you to see where your business is presently and helping you making informed decisions for future endeavors. The commissions processing function of AgencyBloc’s software allows you to project your commissions while sustaining the growth of your agency.
Our 6 step system will make your commissions processing life a breeze. At AgencyBloc, we want to make the convoluted straightforward. We provide dedicated client specialists to personally help you and your business utilize our software to best benefit your company. Our system is customized specifically to your agency, and your specialist will be there to help you in any way possible.
Still a little nervous?
Let’s set up a demo so you can see how our Commissions Processing feature can save you time and money while making your business smarter. Our skilled sales team will walk you through our entire system and show you how we can customize it to fit the needs of YOUR agency.
Want to learn more about our Commissions Processing feature? We wrote an eBook on it!
[eBook] How to Streamline Commissions Processing for Your Insurance Agency
Learn how you can save time, save money, and work smarter by streamlining your commissions processing with AgencyBloc’s Commission Module.