Challenge: Seamlessly integrate an automated commission and incentive compensation application to manage data from 17 unique backend systems. Product must be web deployable and highly scalable.
Strategy: Develop pre-procesing programs to convert data from 17 disparate systems to a unified format and into one single platform for the management of commission and bonus processing and payout.
Result: Implementation of ActekSoft’s ACom3 Commission and Incentive Compensation System which allows Assante Corporation to accurately and efficiently calculate commission and bonus payouts by transforming data from multiple systems into the ACom3 application.
The Search for an ICM Solution
Assante Advisory Services was in need of a system that could handle commission and bonus processing and payout, a function which had become an overly time-consuming and complex task. Assante’s need for a new solution was further complicated due to their growth through acquisition business model, which resulted in acquisition of 17 companies with separate commission payout systems and structures. Each company had its own mixed grid and hundreds of Branch and Advisor variations, which further increased the difficulty of processing commissions for approximately 1,200 Advisors with over 500,000 client accounts.
Assante’s manual commission process was not manageable in this new business structure, and ultimately resulted in excess IT and Operations costs, as well as overpayment expenses. This led Assante to search for a solution with the flexibility to handle their present grid complexities, and that would easily attain the intended target of a single harmonized grid (payout schedule) using Assante-defined business rules. In addition, Assante needed a system that would allow major systems functions such as integration processing and grid and bonus setup to be managed by non-technical staff. They were eager to find more than a software solution; they needed to partner with an organization that could implement a system tailored to their business model, including customization and enhancement.
Implementation of ACom3
ActekSoft’s ACom3 product was chosen over rival companies due to their flexibility, professional fixed priced approach and their willingness to build the ACom3 product around Assante’s business model. ACom3 is built around client-defined options and business rules which allowed Assante to quickly automate a once manual process and immediately increase ROI.
Assante opted for a phased approach to implementation of their 17 divided systems, integrating 3 at a time into one single grid in just under one year. The ACom3 application was easily integrated with Assante’s front and back end systems allowing Assante to interface with databases containing order and key data on the front-end, and GL and payroll on the back-end.
“ActekSoft provided resources for a variety of roles and were able to pitch in when required by business issues that would otherwise have delayed the project. ActekSoft’s staff was both professional and knowledgeable with an understanding of commissions processing that transcended industry boundaries.”
Results and Benefits
The implementation of ACom3 has resulted in a commission-processing environment that is fully automated from the initial integration of transaction data through computation and integration to GL and payroll. ACom3 has eliminated overpayment errors, dramatically lowered administrative and IT expense, and also offers features to deliver commission statements and reports via the web—in short, ACom3 delivered on the 3 critical areas of return on investment that were used to justify the purchase and implementation.
“ActekSoft has proven their product and their technology capabilities in our environment and I would have no hesitation in recommending them or their product to anyone looking for a solid partner willing to commit and deliver technology on time and budget,” said David J. Ravenscroft vice president of program planning and delivery.