Comarch Commission & Incentive at Aegon Services

Comarch Commission & Incentive at Aegon Services

DOSSIER

Company Aegon Services Sp. z o.o

Industry Insurance

Project objective Implementation of the solution that will centralize all billing and accounting operations related to compensation plans

Implemented solution Comarch Commission & Incentive with a financial-accounting module

Solution supplier Comarch

Project duration III 2012 – V 2015

software for aegon

Comarch Commission Incentive

Project objectives

    The insurance group decided to implement Comarch Commission & Incentive to manage their sales network as well as calculations and commission settlements in a distribution company model, thus supporting the insurance companies of Aegon Group in Poland and its largest partners. Simultaneously, a financial-accounting module was to be implemented to support running analytical sub-ledgers, configuring and maintaining charts of accounts, booking commissions and other events on separate charts of companies’ accounts, as well as generating payrolls and invoices, and importing bank statements.

In our business, we do our best to keep relationships with our customers and partners always at the highest level. From our point of view, it is extremely important to have a comprehensive product range that meets the needs of our customers, and a professionally managed sales network as it is the first line of contact with them. We needed a flexible tool that would allow developing and managing extensive sales network structures, both internal and external ones, as well as defining multi-layered and complex compensation plans and settlements. Not without significance was also the need to automate most of accounting operations and create additional sub-ledgers for Aegon group companies and our key partners.

 

Ewa Karczmarczyk, Financial Operations Department Director, Aegon

 

The business requirements agreed with Aegon before the project were really ambitious. All commission, settlement and accoun­ting operations of Aegon Group had to be centralized to facilitate the process of sales network commission settlement and stream­line commission policies – especially the one based on assets under management portfolios that had to be flexibly configured to satisfy both functional and performance needs. The capability to manage definition of commissions and their rules without the supplier’s assistance, which is ensured by Comarch Commission & Incentive, was one of fundamental business requirements.

 

Rafał Kwarciany, Project Manager, Comarch

 

Efficiently manage sales network and commission policy in insurance companies, banks, telecom operators and more.

Comarch Commission & Incentive is a web-based solution dedicated to advanced incentive compensation management at organizations with extensive sales networks.

comarch comission incentive

Project challenges

    The project main challenge was meeting multi-entity requirements and centralizing sales network management of all organizations in one place, simultaneously keeping them separate for financial purposes.

For us the project was really challenging but we consider it as a truly valuable experience. Together with our partners from Aegon we successfully managed some complex issues. We carefully planned and performed migration of a large volume of the sales network data and a great number of diversified compensation plans. We also optimized generation of settlements.

 

Rafał Kwarciany, Project Manager, Comarch

 

Both Aegon and Comarch teams cooperated effectively during the whole project to achieve objectives and live up to our expectations and business needs. Ensuring comprehensive management of the sales network and commission settlements at Aegon Group insurance companies in Poland was a demanding enterprise which required mutual support, as well as Comarch’s experience and know-how.

 

Ewa Karczmarczyk, Financial Operations Department Director, Aegon

 

Comarch Commission Incentive

Project results and benefits

    Deployment of Comarch Commission & Incentive solution meets all the business requirements of the project. All Aegon group commission, settlement and accounting operations are centralized, settlement and calculation processes and network management are streamlined. Managing definitions and rules without Comarch’s support significantly accelerates and eases the company operation.

The Comarch solution helps us manage our sales network more efficiently and better monitor our companies’ and partners’ performance. It ensures full information on sales results and commissions both for our managers and agents. The compensation plans and commission settlements are managed more effectively, thus motivating our sale force also shortening time-to -market for our new products. We are also satisfied with a comprehensive reporting tool the Comarch solution provides.

 

Ewa Karczmarczyk, Financial Operations Department Director, Aegon

 

Comarch Commission & Incentive is able to handle different business models of the organization with complex sales network structures like the one at Aegon, which includes several own companies and external partners. We have been enhancing our solution throughout the years and numerous implementation projects, gaining new valuable experience, knowledge and best practices that we can share with our clients. The implementation of Comarch Commission & Incentive at Aegon allows them to manage its business more optimally as all data are centralized and more dynamically as they are granted the possibility to configure and define processes without our assistance.

 

Anna M. Lik, Product Manager, Comarch

 

Comarch Commission Incentive

Solution Advantages

  • aggregation of all sales network data and management of all sales network structures in one place
  • fast and reliable information on sales results and due commissions
  • continuous enhancement of commission policies for better sales force performance
  • flexible and independent calculation and settlement processes
  • automatic commission recalculations as a result of sales data corrections
  • significant reduction of settlement errors and malpractices in a sales network
  • comprehensive reporting

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