Context

Automate Commissions

Having a commission structure that works for your team can be a complicated manual process, especially when done on paper or with spreadsheets. Organizations can save time and energy by automating the commission system while ensuring that their teams are properly incentivized for sales performance.

Symphona’s automation and AI tools can help address the challenges involved in automating these processes. These challenges include:

Overwhelming Amounts of Data

Managing commissions can be a complex and challenging task that often involves dealing with large volumes of data. This data can be difficult to collect, store, analyze, and effectively use.

Successful management of commissions requires a proactive approach to data collection, ensuring that accurate and complete information is gathered from the outset. Companies must also establish efficient systems for tracking this data over time, leveraging insights to inform strategic decisions that can enhance performance and drive growth.

Symphona can help companies adopt these best practices, streamline their operations, and improve overall business performance. 

Slow Turnaround Times

Slow turnaround times for commissions can lead to cash flow issues and difficulties meeting financial obligations. To overcome these obstacles, agents can utilize platforms like Symphoan to implement and automate effective workflows such as involving staff, implementing rigorous tracking mechanisms, staying up-to-date with carrier updates, and communicating promptly upon receipt of submissions. 

By taking proactive measures, agents can ensure a smoother path towards receiving commission payments on time, providing stability and security for their financial future.

Difficult to Track Payments

Manually tracking commission payments is time-consuming and labour-intensive, often resulting in delays, miscommunications, and potential inaccuracy. Automatically tracking payments using Symphona workflows will save time and manpower while reducing errors. 

Solution

How Symphona Helps

By utilizing Symphona’s no-code tools of Flow and Resolve, your organization can streamline commissions, reducing errors and ensuring timely payments. Furthermore, with Symphona operating on a usage-based system, your organization only pays based on how many automations you use.

Flow can automates tedious and complicated tasks, such as administering documents, processing claims forms, and more, drastically reducing the time and effort required for commission staff to complete those duties. 

Furthermore, Flow can record data accurately and organize it into meaningful reports quickly,  resulting in improved reporting accuracy while lowering operational costs. Flow’s continuous monitoring capabilities also allow for anomaly detection, flagging potential issues before they occur. 

Flow tracks all data and provides a custom dashboard for seamlessly managing tasks. Flow also provides API integration, making integration easy between multiple systems as well as seamless data movement and data transformation.