Five

Key Tricks To Get On Top Of Your Commissions

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Contents: Who Am I, 1.Keep A Record, 2.Creating your Forecasts, 3.Adding Actual Payments , 4.Reporting, 5.Reviewing your forecasts, Summary, Q&A.

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Andy Hunter

About me

  • Thrill seeker
  • 18 years in the industry
  • 13 years working for TPIs
  • Co-founded UtilityClick 5 years ago
  • The elephant in the room
    (we sell a CRM)

Keeping a record of all of your deals

1.

  • Record signed contracts
  • Make sure they go live
  • Live Dates

2.

  • Contract Usage – has this been checked?
  • Supplier Payment Terms
  • Recording when you’re expecting payment files through

Creating your forecasts

Adding actual payments

3.

  • Where to allocate your payments
  • Record start/end period dates

4.

  • Don’t overcomplicate it
  • What does performance look like “as of today”
  • Live Contracts / Expired Contracts
  • No payment made
  • Monies Received Payments / Reconciled Payments

Reporting

Amending / Reviewing your forecasts

5.

  • Not always as simple as “supplier isn’t paying me properly”
  • Use your account managers to help with forecasting, site closures / COT’s
That's All Folks

In Summary

  • This can be managed on a spreadsheet for 1-2 man bands, but will become more difficult the bigger you become.
  • Good house-keeping is needed for keeping on top of your commissions.
  • Keep your reporting simple. Focus on the bigger picture.
  • Everybody needs to be involved, not just the Finance team.
  • Systemising your processes are the best way to keeping things working smoothly.