Streamlining Commission Accounting for Enterprise-Level Brokerages: BenefitsGuide and Fintary Partnership
For large insurance brokerages with more than 25 employees and the responsibility of paying 10 or more brokers each month, commission tracking can become a complex, time-consuming challenge. Managing the complexity of the high volume of transactions, ensuring accuracy, and distributing payments to sub-producers takes valuable time and resources. But now, with the partnership between BenefitsGuide and Fintary, there’s a better way to handle this.
Fintary, specializing in commission accounting and reporting services for larger brokerages, is designed for organizations managing multiple brokers. By utilizing advanced AI and machine learning technology, Fintary ensures that commission tracking is efficient, reliable, and tailored to the needs of larger enterprises.
Why the BenefitsGuide and Fintary Partnership Works for Large Brokerages
As an enterprise-level brokerage, you’re already handling significant complexities, from managing multiple clients to juggling numerous broker payments. With Fintary, you can simplify commission accounting and reporting, without adding more manual processes to your team’s workload.
How It Works
Your clients, policies, producers, incoming schedules and outgoing splits are managed within your BenefitsGuide: Agency Management System. Commission tracking is made simple by generating two automated reports each month. These reports contain all the data needed for Fintary to handle commission accounting on your behalf. You simply forward these reports to Fintary, and they take it from there. Their AI-driven system tracks every commission payment, identifies any discrepancies, and distributes payments to your co-brokers or sub-producers accurately.
Fintary's system is specifically designed to handle the demands of a large-scale organization, offering seamless and reliable commission accounting without the manual headache.
Key Benefits for Larger Brokerages
- Eliminate Redundant Data Entry: The integration between BenefitsGuide and Fintary automatically creates the reports with all data required for commission tracking. There’s no need for additional data input, reducing the risk of errors and saving time.
- AI-Powered Accuracy: Fintary uses advanced AI and machine learning to manage commission data efficiently. Their system ensures that payments are tracked accurately, and any discrepancies are flagged for quick resolution, allowing for seamless commission reporting and distribution.
- Scalability for Large Brokerages: For organizations with more than 30 employees and a high volume of broker payments, Fintary’s system scales to meet the demands of enterprise-level operations. Whether managing 10 brokers or 1000, the system adapts to your needs.
- Time Savings Across the Board: By automating commission tracking and reporting, your team can focus on higher-value activities. Your brokers and team members can stay focused on business growth.
- Peace of Mind with Expert Support: Fintary provides dedicated support for large organizations, ensuring that your commissions are handled with care and accuracy. You no longer must worry about whether payments are being processed correctly—Fintary takes care of it all.
How This Partnership Benefits Your Business
By outsourcing commission tracking to Fintary through BenefitsGuide, you’re able to leverage industry-leading technology to streamline operations, reduce manual labor, and improve accuracy. The time saved and the reduction of errors directly impacts your bottom line by freeing up internal resources and allowing your team to focus on client service and business growth.
Take Control of Your Commission Accounting
Managing commission payments for multiple brokers can be a daunting task for any large organization. But with BenefitsGuide and Fintary, you can simplify the process, ensure accuracy, and save valuable time.
If you’re ready to streamline your commission accounting and ensure payments are accurate, let’s schedule a 15-minute introductory call to discuss how the BenefitsGuide and Fintary partnership can work for your brokerage.
Let’s make it easier for your organization to focus on what matters most: growing your business.
