Del Mar DataTrac (DMD), a provider of affordable loan automation solutions for mortgage lenders, banks and credit unions, has released CommissionTrac 2.0, the company's next generation commission solution. CommissionTrac 2.0 automates the calculation, timing, communication and reconciliation of commissions. The solution is a flexible, yet configurable, application that eliminates costly and time-consuming commission calculations. Lenders traditionally complete commission calculations in a manual fashion or with Microsoft Excel, either of which can be time consuming and often, lead to inaccurate payments.
CommissionTrac automates every aspect of the variable compensation workload so that sales people stay motivated and focused on originating and accounting staff can both save time and be more accurate with commission calculations.
CommissionTrac 2.0 enables lenders to deliver a 24/7 Web-based commission pipeline, where sales agents can continuously monitor estimates and time disbursements.
"During our implementation of CommissionTrac 2.0, we have tested the system by running historic numbers and found all sorts of places where we overpaid commissions. This tool has nearly paid for itself already," said Tom Couture, secondary marketing manager for Lubbock, Texas-based City Bank of Texas.
"Nothing demotivates a sales rep faster than messing up their commissions. Accurately and quickly calculating, communicating and paying sales commissions is important for lenders who want to keep good loan officers focused on selling," said Rob Katz, president of DMD. "This next generation of CommissionTrac will enable managers to resolve problems before the checks get written, ensuring that no trust or productivity is lost over sales commissions.”
For more information, visit www.dmdinc.com.