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Zywave’s Agency Management System Now Offers Enhanced Commission Tracking For Easy, Flexible Payment Reporting
Agency commission tracking is a critical component to agency management that is often neglected because of system complexity or having no system at all. BrokerageBuilder™ allows agencies to easily identify when commissions are due and to forecast earnings.
Milwaukee, WI (PRWEB) April 22, 2008 -- Zywave, a leading technology provider of products and services for insurance brokers, announced today the addition of producer compensation functionality to its BrokerageBuilder™ v4.5 commission tracking capability. The enhancement will allow agencies to create and maintain producers’ compensation schedules and efficiently report on producer payment information.
“The new functionality in BrokerageBuilder, addresses partner requests for flexible tracking and reporting that works with the individual needs of each agency,” said Dave O’Brien, executive vice president of Zywave. ”For example, compensation functionality is now more easily automated into the normal agency workflow, which can be a great asset for those agencies that are currently calculating manually or in Excel®.”
BrokerageBuilder's commission tracking capabilities include enhancements, such as:
- new standard reports, data extracts, and updated Zywave ReportCenter data categories to cover producer compensation reporting needs
- the ability to assign compensation types (such as New or Renewal) to each producer with a rate specific to that producer
- the option to change commission splits or producer commission rates mid-plan with “effective dates”
- a new agency-level setting to allow producers to require commission splits to equal exactly 100%
- a “deposit date” in the commission statement to track when the money is received and/or deposited
- new security options that enable agencies to control access to sensitive commission or compensation information at the user level
- the ability to post statements with a negative value and edit statements that had been previously posted
- enhanced commission import utility
For agencies that want to use this new commission tracking feature, a special 90-day fee waiver will be available on a first come, first served basis to upload related data.
For more information on BrokerageBuilder and other agency tools, visit us at www.zywave.com">www.zywave.com.
About Zywave:
Zywave is the leading provider of a line of Web-based employee benefits and property and casualty communication, administration, and claims data analysis systems, designed to help insurance brokers gain profitable market share. Employed by nearly 1,000 partners and a majority of the Top 100 agencies, Zywave applications help brokers secure and retain business by differentiating them from their competitors, and allowing them to compete on a high-capabilities basis. Additional information is available at www.zywave.com.
This press release was distributed through eMediawire by Human Resources Marketer (HR Marketer: www.HRmarketer.com) on behalf of the company
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