Loan-Score Offers CommissionPro™ to Automate Sales Commission Tracking and Management Process
IRVINE, CA, December 11, 2008 - Loan Score Decisioning Systems, an enterprise-class pricing and automated underwriting solutions provider, today announced it will offer CommissionPro™, a Web-based commission tracking and payout application designed for use by loan officers, brokers, sales force management and accounting personnel. The solution eliminates manual commission tracking and provides salespeople with visibility into commission payouts. CommissionPro is designed with the specific goal of automating the costly, cumbersome administration of commission management processes from accounting payout to tracking, forecasting, performance guidance, reporting and the actual payment of simple to complex sales compensation plans. Traditionally, lenders have been ailed with managing a multitude of variable-based, intricate commission sales structures using manual processes that involve Microsoft Excel and internal resources. CommissionPro streamlines what is normally a labor intensive process by seamlessly linking the organization's sales, accounting and/or operational platform. The result is newfound visibility across the enterprise for all areas that have a defined interest in a specific transaction. The Web-based solution automatically and efficiently captures and accounts for sales expenses or post transaction commitments throughout the payment process. Loan-Score's clients have the option of adding a CommissionPro button to their existing broker portal and retail/branch applications, or they can utilize the solution as a stand alone portal solution. "It is critical to provide an organization's sales force with accurate and dynamic feedback as it relates to their ongoing performance and results," said David P. Colwell, executive vice president at Loan-Score. "CommissionPro eliminates the need for staff to track, measure and pay out complex, multi-tiered commission structures using Excel. The manual tracking of commissions is time consuming, costly and provides limited analytics. Loan-Score saw an opportunity to introduce CommissionPro to the mortgage marketplace and we are excited about its formal launch. We feel it is the most powerful commercially available compensation solution on the market." Through user friendly desktop administrator screens, the sales force and senior management both have on-demand access to robust sales reporting information in multi user-defined formats to aid in helping determine sales force rankings, wages, pipeline earnings, and also bonus or incentive determination. Key Features & Benefits
- Completely automates the commission tracking & payout process
- Eliminates the need to have employees manage numerous commissions using Excel
- Provides salespeople with clear insight into their commission payouts
- Centralizes commission management for multiple locations and payout tiers
- Loan officers and managers conveniently view commission statements over the Web
- Supports multiple commission structures in multiple branches/locations
- Comprehensive debt and payment management, including advances, draws, loans, etc.
- Provides easy exports to Excel
- Maintains a communication log between user and commission administrator
- Capability to split individual commissions
- Customized charting based on user authentication
- View and print commission details
- Rule-based capabilities enable automatic debt repayment, minimum payments, percentage of outstanding, etc.
Founded in 2000 and headquartered in Irvine, California, Loan-Score Decisioning Systems offers a true, enterprise-class AUS and product/pricing engine available on a software-as-a-service (SaaS) and also a self-hosted basis for all lending channels and product types. The company also extends various functionality to the point-of-sale using its web portals. Loan-Score maintains a comprehensive, up-to-date library of investor guidelines and pricing to ensure eligibility is met and market conditions are adjusted to deliver precision-based underwriting that results in fundable loans. The company's solutions are engineered to deliver swift, cost-effective implementations that integrate with existing LOSs and avoid inflexible programming efforts and high maintenance costs. Through Loan-Score's unique approach to customer service, the company's on-demand SaaS model offers clients the option to utilize its extensive library of investor guidelines, or the ability to manage unique program guidelines themselves. Loan-Score's solutions are in production with small, medium and large lending institutions. For more information, visit www.loan-score.com or call 949-450-0102.
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CONTACT:
Joe Bowerbank
Loan-Score Decisioning Systems
949.450.0102, ext. 204