Maintain accuracy in commission
payments made to agents to achieve profitable results

Revenue Reconciliation

Solution Overview

VUE Software’s Revenue Reconciliation module helps insurance marketing organizations, private exchanges, distributors and agencies to easily identify and collect “shorts” in Medicare Advantage, Life renewal and any other type of commission payments from carriers.

Features

Book of Business

  • Manage your Book of Business and track revenue producing events and adjustments
  • Manage product portfolio
  • Manage gross to net revenues by Product Line and/or Product

Deposit Reconciliation

  • Load and reconcile deposits with commission statements
  • Create adjustments to reconcile or write off mismatches/discrepancies

Account Receivables

  • Book receivables for what was expected but not received, based on defined events
  • Book receivables for revenue received

Revenue Reconciliation

  • Reconcile receivables against the revenue and, identify and fix mismatches
  • Make adjustments or create write-offs against receivables and reconcile mismatches
  • Choose a different commission, advance and bonus template to retroactively recalculate and reconcile

Revenue Recognition

  • Report, review balances, receivables, mismatches, adjustments/write-off
  • Post to general ledger

Online Billing

  • Online billing portal
  • EFT, Credit Card bill payments
  • Real-time bill recalculation

Reporting

  • Recognize revenue as earned or unearned based on the occurrence of certain events
  • Reporting ability to review recognized revenue

Cash Projections

  • Project revenue cash inflow from carriers for a predefined number of months on a rolling basis
  • Take snapshots of projected data in the projection cycle
  • Compare projections

Event Module

  • Define separate events for projections versus receivables
  • Define separate events for recognition cycles

“By using VUE Software as part of our proprietary technology platform, our agents will operate in a seamless multi-carrier environment that will feel like they are working with a single carrier for everything from quoting, electronic applications, application tracking, managing compensation and managing their client base. This provides a unique offering for an independent career agent that delivers a tremendous advantage in the marketplace.”

Phillip J. Hildebrand

President and Chief Executive Officer

After the many years of introducing, integrating and building a tool, it was totally refreshing to work with knowledgeable and critical thinking people. The staff that helped ‘build out’ for Golden Outlook, needs a big Thank you from us. I hope your top management recognize these people as “Top Shelf Staff”. I hope to continue working with them.

Alan Sundeen

Senior Business Analyst, OPTUM

“With our business expansion, we needed a system that could manage our commissions processing and help track a rapidly-expanding distribution channel. VUE Software provided us with a solution that would fit well into our existing model and scale to meet growth expectations. The VUE Software team’s understanding of our business and experience in implementing solutions for other managing general agencies are major factors that prompted our decision.”

Don Fronczak

Chief Operating Officer

Improve Relationships with Carriers

Eliminate confusion with user-friendly reports and improve verification workflows with tools that help identify errors and exceptions. Automatically upload sold policy feeds from carriers and identify errors. Drill down into the details of how each policy is paid along with reporting hierarchies for effective, accurate commission payments.


Recover Earned Revenue | Revenue Reconciliation

Recover Earned Revenue

The Revenue Reconciliation module identifies discrepancies in commission payments made by carriers, allowing you to recover rightful income. It forecasts cash inflow based on various parameters and compares side-by-side expected commissions versus the amount received from carriers, ensuring total accuracy and smooth transactions.

No More Complex Commission Tracking

Historically, the three major areas that carriers have had the most difficulty with tracking commissions are Medicare advantage, Life renewals and commission producing adjustments. VUE Software provides tools to automatically forecast and track initial commissions as well as adjustments and renewals. These comprehensive reports provide the information by carrier to ensure that you will receive all (not most) of your commissions.

Automate Revenue Recognition

Configure accounting practices for hands on recognition process using a robust engine that determines the specific conditions under which income becomes realized as revenue. Automate journal entries whenever required through the different stages of revenue movement.

Automate Revenue Recognition | Revenue Reconciliation

360° Producer Lifecycle Management

360° Producer Lifecycle Management | Revenue Reconciliation

Revenue Reconciliation identifies discrepancies in commission payments made by carriers, allowing you to recover rightful income. Eliminate confusion with user-friendly reports and improve verification workflows with tools that help identify errors and exceptions. Distributors are able to implement the full Suite and Modules as required.

Learn More About Revenue Reconciliation