In a manual commission process, changing the past is painful and complicated - as a result companies often turn a blind eye to it. In this video, our team member, Eloise, will show you how EqualTo automates corrections and clawbacks.
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Hi, I'm Eloise, and today I will show you how EqualTo can automate commission corrections
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and clawbacks.
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When it comes to commissions, changing the past can be painful and time-consuming.
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It often involves manually calculating the corrections and a back and forth between different
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stakeholders to explain the changes.
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One change can sometimes have a knock-on effect and trigger multiple additional corrections,
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for example if you're using a tiered commission plan.
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With EqualTo, you can streamline your commission process by fully automating corrections.
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Now let's take a look at how this works.
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Let's say that you've already processed and paid out this month's commission payroll.
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We can see here, in the reward account of the seller, that we have already issued a
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payout for this month's commission.
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But, let's say that we later find out that there was a mistake in one of the sales.
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The amount of the sale was incorrect.
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Changing the data in your CRM or sales database will automatically update the record in EqualTo,
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but for the purpose of this demo I will make a manual change.
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As you can see, EqualTo automatically re-calculates the result based on the new data that was
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received and immediately issues a correction transaction to the reward account of the seller.
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Going back to the reward account, we can see that EqualTo has instantly applied the booking
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correction.
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The seller's account is now in minus, which means that they will have to pay it back again
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with future commission earned.
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EqualTo is a powerful platform for commission management, and automating corrections is
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only one of its many use cases.
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Please get in touch to book a demo or if you'd like to learn more about how EqualTo can modernize
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your commission process.