You are the business. Get a 360° view of your commission and fees over any time period, per provider, client, product and more.
Get a view on missing income and VAT mistakes, and take your client segmentation to the next level. Manage referral fees, sharing arrangements, payouts and succession planning. An automated revenue tracking system reduces the tension of unknowns. With in-depth client/family group segmentation, you can spot missing commission and revenue, and you can forecast and leverage opportunities to the fullest. Built-in compliance check points ensure business is compliant before issuing.
As an advisory business grows beyond you and your personal capacity to serve clients, Commspace grows seamlessly with you.
A successful advisory business will eventually expand beyond your personal capacity to advise clients. You therefore need to prepare for easy onboarding of multiple advisers and potentially, multiple partners in the future. The focus here is on scalability, as you grow from one to many advisers, and handle the challenges that come with that. An automated commission and revenue tracking system eliminates the stress of unknowns. Rules-based commission sharing agreements between multiple advisers, which can easily be changed as needed, ensure your remuneration models are fair and accurate. Revenue business intelligence and analytics provide valuable insights to help you grow your business.
From a single office with a few advisers, to a national group with teams around the country, the Commspace platform was built with distributed operation and central control in mind.
Get online, real-time access to your data via rich, integrated analytics or branded, customised reports that cover your fees and commissions from every angle, whether across teams for group managers, or within teams for office managers.
The benefits for big and small businesses
360° view of revenue
Income-based client segmentation
Manage complex split structure
Motivate your advisory team with the tracking of revenue goals
Monitor your client retention rate
Identify the potential risks in your existing revenue streams
Measure the effectiveness and sustainability of your revenue streams
Easily track intra-company transfers
Simplify compensation structuring and management
Integration to enterprise systems
Choose between our Self Service and Managed Service offerings. Seamlessly switch between the two if needed.
Project-managed onboarding by specialised business analysts ensures a smooth start
Web-based, cloud-hosted access, anytime from anywhere and from any device
Automatic Data Ingestion
All provider commission statement file mappings are maintained by us. This allows commission data to flow automatically into the system in three ways:
- Direct provider data feeds
- Provider commission statements emailed to a dedicated client inbox
- Provider commission statements uploaded via the web interface
Automatic Data Classification
Revenue information is automatically classified into predetermined categories based on industry best practice (i.e. product categories, commission types, etc.)
- Flexible, rules-based approach to allocating/splitting commission
- Multiple remuneration models, e.g. fixed percentage, fixed fee, sliding scale based, goal based, etc.
- Allocation to various parties, e.g. advisers, employees, external referrers, etc.
- Date-based allocation rules allow changes to be scheduled ahead of time
- Easily perform bulk changes whilst still keeping track of historical data
- Out-the-box, predefined reports cover the most common reporting needs
- An easy-to-use, integrated report builder allows custom report creation without vendor assistance
- Reports are styled to incorporate your company’s branding and logo
- Bespoke Excel reports can be saved as templates and generated on demand
Integrated, interactive visual analytics allow users to easily analyse trends, spot unusual spikes and discover exceptions in their revenue data
Easily discover problems such as missing or incorrect income and provider VAT mistakes
Role-based access control allows read/write access to specific functions
- Full audit trails are maintained of all record-modifying actions
- Records are fingerprinted with created/updated timestamps
- All recent actions are viewable in context in the web interface
Security & Backups
- Multiple layers of physical, biometric and software-based security protocols and encryption
- Regular external security audits
- Daily database backups
- User support is offered via live-chat style, in-app conversations as well as email and telephone
- One-on-one remote screen sharing sessions are also available
Regular live online training events are published on and booked directly via the app
- Integrated with leading market-specific CRMs such as @work, Elite Wealth, Workpool and FSPHub
- A well-documented API allows for third party integrations
- Cloud-based integration adapters, such as Zapier, are in the works
Source commission statements from providers and import into Commspace
Identify and reconcile commission payments from your bank statement
Allocation Rule Management
Ensure all policies are linked to an adviser through a split agreement, e.g. 100% to adviser or split between a number of parties
New Business Management
New products (policies/investment accounts/etc.) not yet captured in Commspace identified and sent to brokerage for completion of necessary information
VAT and data integrity checks
Configure, generate and deliver regular and ad-hoc reports to meet specific needs of the brokerage
Holistic Account Management
Dedicated account manager dealing with all queries and change requests