|ACom3 Commission and Incentive Compensation|
ACom3™ Commission and Incentive Compensation
ACom3™ is an incentive compensation automation "workhorse" built to deliver extreme automation in integration, plan configuration, producer management, payout calculation and communication. ACom3 is built for business users, with product development focused on continual expansion of core product functionality to ensure ACom3 delivers end to end automation. The result of this focus is a highly user configurable system supporting rapid deployment, ease of use and reduced operational complexity.
- Integrate – Embedded integration engine simplifies connectivity to any number of external systems
- Automate – Investment in core functionality eliminates manual intervention, greatly improving efficiency, ensuring 100% payout accuracy
- Compensate – business user orientation supports innovative plan design and system configuration without involving expensive IT resources
- Relate – Consistently accurate payouts ensure payee confidence and loyalty
ACom3 includes an XML-based integration engine that greatly simplifies connectivity to any number of external systems. There is also an option to utilize an open and powerful ETL tool to further enhance integration capabilities within ACom3.
ACom3 Primary Integration Areas
Processes listed below are managed by the internal ACom3 scheduling tool or through integration with 3rd party scheduling products:
- Inbound Data – Data from any system (or source) including premium billing, policy administration, etc., can be easily imported into the integration portal and made available for validation and processing
- Outbound Data – Powerful extract tools push data to financial systems, data warehouses and virtually any other system (or trading partner) required
- Web Services and APIs – Support real-time access to and from ACom3
Automating commission and bonus processing requires extreme flexibility. ACom3 delivers on the promise of end-to-end automation through flexible plan design and configuration capabilities. Major automation functionality includes:
- Fully integrated workflow capabilities, including manual and triggered workflow events
- Automated retroactive processing, including 22 objects to support automated recalculation and reversal
- Integrated correspondence, including manual and triggered hard copy and email output
- Flexible, unlimited rules-driven direct and indirect hierarchies
- Hierarchical overrides to support policy exceptions and other customer-driven requirements
- Flexible split and assignment logic
- ACom3 customization tools enable client-customized processing without custom coding
- Automated production and distribution of reports and statements
ACom3 supports unlimited, rules-driven compensation arrangements and, more importantly, provides tools that enable business users to easily configure the system without help from IT. Compensation plans include:
- Commission schedules, including rules-driven support for a wide range of computation formulas such as percentages, flat amounts, tiered plans and more
- Bonus plan support, using a wide range of rules, performance metrics, payment timing and more
- Flexible advancing logic, inclulding support for automated chargebacks, interest charges and tracking of earned and unearned commissions
- Recoverable and non-recoverable draw logic with optional interest charges
ACom3 provides all key stakeholders access to dashboards, analytics, operational reporting, workflow functionality and more. Communication is greatly improved through the quick, intuitive creation of specialized user views leveraging the following ACom3 functionality and more:
- Dashboards—easily customized to quickly provide access to key metrics, views are configurable by user role.
- Role based access—internal security functionality allow users access completely customized views of the ACom3 application, including easy access to reports including detail and summarized historical information.
- Integrated business intelligence tools—supports delivery of ad-hoc reports as well as client customized reports, queries and dashboards.
- Integrated workflow functionality—simplifies internal and external communication ensuring timely and well documented communication.
- Producer Portal—the ACom3 producer portal provides web-based delivery of commission statements and reports, in addition to providing automated dispute resolution and generalized workflow support.
- Management Portals—highly customized application views including reporting/dashboards for CFO’s, VP of Sales, VP of Operations etc.