Effective Compensation Management
Effective Compensation Management system helps channel monitoring and faster introduction of new channels
The client's goal was to introduce an agile system to enhance new channels and improve the analysis of channel performance. This needed to be accomplished across five mainframe based channel systems containing over 50,000 captive agents and 1,000 agencies.
Critical business issues included:
- Time to launch Bancassurance channel
- Consolidated view of channel to measure channel performance
- Ability to meet service demands of channels
With MajescoMastek's Elixir Channel Compensation Solution, ease of configuring new channels supported by flexible business rules helped the customer in introducing new distribution partners. Also a single, integrated, comprehensive solution met the ever increasing demands of channels.
Value-added Results Included:
- Flexible commission and incentive rule engine aided in configuring unique commission/incentive definition. It also helped to attract and retain partners/producers
- Flexibility in launching innovative contests increased business
- Consolidated channel view and ease of information access improved operational efficiency by close to 30%
- Reduction in operation cost by at least 25%
With maximum speed and efficiency, MajescoMastek created a highly customizable and scalable system to meet the customer's future business and technology requirements.