Profuturo is a company specialized in retirement savings funds. It used to have two major technological challenges in its internal organization:
1. Commission schemes with limitations and dependencies to configure changes in its system.
2. Errors in commissions calculated in spreadsheets outside the mentioned system.
Thanks to an intuitive and user-friendly technology platform implemented remotely by Blitz, the commission's team saves valuable time and can handle the process without relying on other areas.
Profuturo's commission system used to have a series of pre-established configurations where variables could be manipulated to adjust the commission schemes that the commercial area defined monthly. However, if definitions or parameters not previously configured were included, it was necessary to turn to the systems area. This cause entering into a time and resource allocation process that delayed the team's work.
The main issues to solve were:
On the other hand, their system only handled the Afore commission schemes. Sofom and Pensions schemes were not configured there. They had to be done manually through Excel files, resulting in errors in the calculation and payment of commissions.
Additionally, it was important to consider a new tool that will have a support service to answer questions or new requirements quickly and efficiently, in order to make adjustments at the right time.
Working towards a standardized solution, the project was divided into:
It was released in a productive environment in eight months. It involved the Afore business line which covers more than 80% of transactions and employees. This phase also included data input and output integrations between their systems and Blitz, as well as the generation of service for consulting commissions per period of their advisors (account statement).
It was developed over a period of five months.
It consisted of implementing the two additional business lines: Pensions and Sofom, which had a higher percentage of incidents due to the lack of a platform or a system for calculating and executing payments.
"Blitz has been very useful for the administration, execution, calculation, and payment of variable remunerations being dynamic and integral. In previous systems, the implementation of new rules or functionalities required a lot of time which impacted the effectiveness and efficiency of the payment to the sales force."
The TI team was key in establishing the best integration solution with the systems that would provide the necessary inputs for calculating commissions, as well as sending them to their payroll systems. The Business team established the rules to be considered both in the system for calculating commissions and in the process to be followed from the creation of new schemes and their approvals to the reporting service to its advisors.
Working together, Blitz and Profuturo achieved immediate results:
Based on the commission’s information in Blitz, a service was implemented that generates the advisors' account statements. They can be consulted from an internal portal in Profuturo. Blitz generates and sends the requested document. The highlighted functions on this new platform are:
To truly understand a team's performance, careful analysis of data is critical. When gaps between operational and predictive reports are identified, artificial intelligence comes into play reducing them. Machine learning improves predictions continuously and automatically, achieving a competitive advantage.
Blitz has proved to be an intuitive and flexible tool to create and update payment schemes with a simple configuration. It added the most important variables for commissions and bonuses through all catalogs that were worked on and implemented.
Visually, it is a user-friendly platform that guides users through the configuration to make the process quick and smooth.Additional benefits include a decrease in resources for the execution of schemes in all lines of business, as well as the availability of payment information.
Today, it is impossible to separate commercial strategy from technological innovation. It has become imperative to invest in solutions that help improve offerings and drive business. The positive impact of the new tools implemented by Blitz in the Commissions team will undoubtedly be reflected in the satisfaction of Profuturo's end clients.
Founded in 2016, Blitz is the leading sales commission tracking software, providing accurate and efficient compensation process management.
As technologists, we analyze what drives employee behaviors, morale, operations, and sales to see how technology can increase success. We believe that the right tool can make any organization more effective, efficient, and profitable. For more information, please visit www.blitzrocks.com