A demo of the application is available on our tiered-based commission software page.
Commission management system is a web application developed by BSUPERIOR SYSTEM LTD. in order to calculate the tiered-based commission paid to your agents. We primary built this software for real estate industry; however, it can be used for any tiered-based commission business. It helps you save the time of calculating the commission and sales, and tracking it.
This application has features such as:
- Agent Management- The list of various agents can be updated and managed here with all the details such as their personal information, the branch they are currently working in and the tier table they are assigned in.
- Office Management- The various branches of your company can be updated and managed here with the address, phone number and email address of the branch. Once a branch is updated, all the agents working in that particular branch is updated.
- Tier Table Management- This feature will help you in understanding the different tier tables available and the commission amount and percentage paid to each agent under the various tables.
- Transaction Management- All the transactions such as a real estate property sale can be viewed in this section. Each transaction will have a status such as draft, approved or unapproved. At the same time, you can view the sub transactions under the main transaction and the detailed report of the transaction. These transactions can be edited if you want to make a change.
- Sub transaction Management- In each transaction, different agents might be involved. You can create a sub transaction for each of the agents under the main transaction. The list of all sub transactions can be viewed in here. This can be edited as well to rectify any errors.
- Client Management – The application also keeps the records of the clients, i.e. sellers/buyers who are involved in selling/purchasing a real estate property, service or product.
- Company report- This feature has all the graph and financial reports of your business and it will help you to understand where you stand in terms of your target.
- Owner/Admin Management – You as an owner have admin access to the program and can perform some tasks that your agents aren’t able to do so. For example, you can approve their transactions, edit their check amount and write internal comments.
- Agent Report – Your agents can also track their achievement. For example, you can view their income in a time range and compare the value of their closed transactions with that of pending ones.
- Printable Reports – You or your agents might need to print formal reports to be signed on paper. The application can create print friendly reports.
- Default Management- This feature helps you to enter the default values such as tax rate and company name so that the values are entered automatically in related fields.
- Email Notification – Your agents can get notification on important dates such as the anniversary of their transactions and the birthday of their clients (those sellers and buyers involved in the agent’s transactions). Therefore, they can follow up on these important dates to keep the client relationship.
The main benefit of having the commission application are:
- Easy to track your agents, clients and transactions.
- It acts like a calculator and helps to calculate commissions accurately and pay commission on time.
- Enables the business to design and implement plans that suit the current needs of the business.
- All the transactions can be viewed along with the sub transactions and at the same it can be edited to rectify errors.
- The various tier tables help you to list the commission percentage for each of the sale upper limits.
- The financial statement and graph on the performance of the business can be viewed and this will help the client in knowing where they stand in terms of their target.
- It notifies you and your agent the important dates such the client birthdates and transaction’s anniversary dates.
- Commission is tiered-based, not just a simple commission.
- You can have a record of people involved in your transactions.
- Agents have access to the application and can view their own report or submit a transaction.
Tier Commission Vs Simple commission
Setting up an appropriate commission plan for your sales team is the best way to motivate the sales team to do more sales.
In the tier based commission plan, your agent is paid commission based on the total sales made. In this plan, the commission paid increases with an increase in sale. This will motivate the agent in selling more month after month.
In a simple commission plan, the agent is paid a flat commission dollar based on the sales value.
Sales Tracking Benefits
A good sales tracking system can help a small business in their budgeting and planning and this will lead to their overall success. The sales tracking system will act as the knowledge data base and it will help in reducing the challenges faced while handling large portfolio of accounts. It provides efficient and critical information which can be used to make accurate sales forecast. Sales tracking system can help the client in managing their inventory in an effective way. The sales representative would be able to focus more on the core activities of sales rather than doing the administrative work and all the data will be available to them anywhere, any time.
The reports generated by the application system helps the business in evaluating and planning for their long term performance. It helps the business by providing information to the management and investors that are critical to their decision making. Business reports help the company to comply with the requirements of the government, lenders and investors. Reports can be used to provide feedback to the employees as well.
What industries could use this software?
Various industries in the market can make use of the commission application developed by BSUPERIOR SYSTEM LTD. Some of these industries are as follows:
- Real Estate
Why these industries should use this web application?
In these industries the agents are mostly paid on a commission basis and using our application will make their day to day operations easy. It will help the company to concentrate on their core activities rather than administrative work.
Please note, in addition of this web application, we have developed an Excel version of tiered-based commission management. Please check out our web application development website for more info.