Quay Software has now introduced an automatic commission reconciliation module or EDI to its back office system, which allows intermediaries to automate and track their undelivered commissions.
This means users will no longer need to laboriously chase unpaid commissions by provider and investment firms, as data is automatically fed into their system, providing the firms are signed up to feed data into Quay’s information hub. Roland Rawicz-Szczerbo, director at Quay Software – now owned by Capital Life and Pensions – points out commission reconciliation has been around for some time but technology has only recently been developed to automate and reconcile processing. That said, the process is not a simple one at this stage, as in order to use the commission EDI, the intermediary ...
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