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Push for progress
Elevating the business with accuracy
Financial businesses, no matter what capacity, face challenges and risks with the number of calculations and legal and regulatory complexities involved. A notable MLM financial business identified challenges in effectively managing and accurately calculating multi-tiered commissions for its expanding distributor base. With the business expanding, the complexity of commission structures increased leading to potential errors, payment delays, and a larger administrative burden.
This inefficiency gradually started impacting distributor morale and other allied operations contributing to business growth and success. The MLM financial products business, identifying the risk of damaging the company’s profitability and credibility, sought expert intervention.
Epixel MLM Software stepped up to manage the situation recognizing the necessity of a streamlined and error-free commission management system. Automating multi-tiered commission calculations was also a crucial vitality for the business to make sure that the distributors were paid on time minimizing errors and streamlining overall payment processes.
With the business wanting to scale to new markets, Epixel also tailored brand-specific strategies to manage complex commission structures that would help with effective distributor retention and trust.
Dissecting the dilemma
Commission management, the cornerstone of business efficiency
Commission management being one of the crucial necessities for a financial MLM business, team Epixel strategically planned to implement the functionality for the efficient and smooth functioning of the business.
As phase one of getting things straight, we focused on the business’ pain points from lack of transparency to payment errors and delays in commission distribution to streamline operations from all ends.
Introducing the most sophisticated automated system to calculate multi-tiered commissions was the first mission to fix confusion with the accuracy and timeliness of payouts. Based on real-time data, the software automatically calculated commission for different levels within the distributor network. The feature was integrated aiming to reduce commission calculations by 25% within the first month of implementation to ensure that payouts are distributed on time.
The built-in payment processing feature ensured that commissions were disbursed as per the preset schedule. Considering its efficiency in eliminating common delays in commission payments, the feature was structured to improve distributor satisfaction by 30%.
Further focusing on strengthening customer trust, transparent commission statement systems were incorporated to enable distributors to access detailed statements outlining their earnings, deductions, and bonuses. This feature was integrated to improve distributor loyalty by 20% through clear and trustworthy payment records.
Assimilation of a centralized database for sales and payouts ensured seamless tracking and reporting which was designed to reduce administrative workload by 35%. This also enabled the finance team to access information accurately and from time to time.
The result spectrum
From flaws to flawless, achieving accuracy through automation
The financial products MLM business’s primary concern was to fix its commission management process. However, with Epixel’s policy of giving the business a comprehensive performance push, the team focused beyond commission management to give the desired results.
The software implementation created a transformative impact on the company’s commission management processes delivering error-free calculations, improved transparency, and distributor trust thus enhancing distributor engagement and performance. The feature was integrated aiming for a 30% increase in distributor satisfaction.
Improving transparency in commission statements was expected to increase distributor loyalty by 20%, which elevated their confidence in the brand’s commitment to delivering fair and accurate payouts.
With the centralized database system, the goal was to reduce the admin and finance team’s workload by 35%, freeing up resources to focus on other strategic tasks.
Incorporating the above core functionalities into the system improved payment transparency leading to an 18% projected reduction in inquiries and disputes related to payments.
All in all, the software helped the MLM financial products business handle the growing distributor network with scalable commission management, reducing administrative strain and backing distributors more efficiently.
Challenges and solutions
Beyond the edge
Challenges fuel our growth and mastery, and hence, the challenges that the business faced in adopting these functionalities were put in prime focus to work be worked around and bring out favorable results. First off, training the distributor force and the finance team to facilitate the adoption of the software was done to ensure smooth onboarding. This was expected to give an 88% adoption rate from the first month itself, showing the software’s user-friendliness.
Additional challenges we navigated through, and their resolutions were,
Handling diverse commission plans, bonuses, and overrides with advanced functionalities to manage complex commission structures.
Reducing payment disputes by offering access to commission statements in real time.
Educating distributors on newer functionalities to improve their confidence and satisfaction.
Expected Results
Reduced commission calculation errors
25%
Increase in distributor satisfaction
30%
Improved distributor loyalty
20%
Reduced admin workload
35%
Lesser payment-related queries
18%
Reduced commission calculation errors
25%
Increase in distributor satisfaction
30%
Improved distributor loyalty
20%
Reduced admin workload
35%
Lesser payment-related queries
18%
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