FAQ's
Enterprise Incentive Management FAQ’s
Q: What is Enterprise Incentive Management?
A: Enterprise Incentive Management, also known as EIM describes the use of a wide range of variable compensation measures to compensate sales staff and sales management in large organizations. EIM can also be used for non-sales staff and is becoming a more common concept in organizations of all sizes.
EIM is also referred to as, commission and incentive compensation management; enterprise compensation management, incentive management, commission management etc.
Q: Why implement an EIM solution?
A: EIM solutions centralize the management of variable pay across an enterprise and combine all commission and incentive plans for salespeople, executives, partners, brokers, customers etc. into one software application. This consolidation streamlines commission processing, drives revenue, reduces costs and delivers automated control to the users who need it most. See our benefits page for more information.
ACom3 FAQs
Q: Will employee time be reduced with the use of ACom3 or will more time need to be spent managing an application?
A: One of the most important features of ACom3 is the automation which frees up employee time spent on EIM and allows them to focus more on more important business objectives. All systems will require some maintenance to the application, but overall all companies see a reduction in time needed to process commissions. See ORG Case study.
Q: Is ACom3 a true EIM System?
A: ACom3 is a flexible, scalable, Internet deployable application perfectly suited to support the needs of a large enterprise. However, ACTEK’s pricing model and implementation strategy also opens the door for use by companies of all sizes, thus 100%+ return on investment in 12 months or less.
Q: What drives return on investment from a product like ACom3?
A: ACom3 delivers 100% automation and accuracy in processing and payout and also supports a paperless processing environment in which statements and reports can be delivered to all payees via the Internet or e-mail. The net impact of these areas alone typically drives 100%+ ROI. However when you factor in additional benefits such as improved sales staff or producer retention, strategic fine tuning of payout and bonus plans, enhanced reporting capabilities the results are even more compelling. See our ROI page for more information.
Q: Does ACom3 really deliver 100% automation?
A: Yes, ACom3 is delivered with a functionally advanced integration engine that simplifies inbound and outbound integration. The features in the inbound integration portal deliver the information necessary to fine tune the system to the point where all transaction flow from front-end integration thru computation and back-end integration with no manual intervention.
Q: How does ACom3 deliver 100% accuracy?
A: ACom3 begins to deliver on this promise through the strength of the integration portal and adds additional benefits given the ability to support unlimited payout schedules and bonus plans using client defined business rules. ACom3 also has a wide range of exception processing indictors to support the “special arrangements” that create significant manual effort in processing. The net result is removal of manual effort and the resulting removal of errors that are introduced as a result of “too many hands” touching the computation process.
Q: What industries does ACom3 support?
A: ACom3 is an “any industry” solution capable of supporting commission and bonus processing for any type of payee—this includes sales reps and sales management, executives, brokers, agents, tellers, agencies and financial advisors. ACom3 has also been used to support variable compensation for customer service personnel, claims processors and management, based on a wide range performance measures. See our client list for more information.
Q: Why is ACom3 considered a Commission and Incentive Compensation System?
A: ACom3 supports general commission processing in industries such as insurance and financial services, while also supporting incentive and variable compensation concepts such as percentage attainment of quota, variable levels of bonus processing and flexible comp plan design.
Q: What functionality is available via the Internet?
A: ACom3 provides secure access to brokers, agencies, MGA’s etc, via the Internet. The functionality supported via this “portal” is very much client defined and can include access to commission statements, summary reports, performance data and more specialized functionality such as pre-enrollment of membership information in the healthcare payer market.
ACTEK FAQ’s
Q: When was your company established?
A: ACTEK was founded in 1999 by Farley Lavett.
Q: What other products besides ACom3 does ACTEK develop?
A: Our company began with a suite of products tailored to the healthcare payer market. It soon became apparent that our healthcare clients needed a robust system to pay commission and incentives to their brokers and agencies. We then focused all of our resources on the ACom3 product, since then this has been our primary software application.
Q: Are their any geographic restrictions on where your product can be offered?
A: There are no geographic boundaries to the ACom3 product, currently we service clients in the US, Canada and Puerto Rico.
Q: Where is ACTEK located?
A: ACTEK is headquartered in Birmingham, Alabama. We purchased a 10,000 square foot office in 2002 to be able to accommodate growth and staff expansion as needed. We also have a sales and marketing office in Philadelphia, Pennsylvania.