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Quit Wasting Time Managing
Commission Differences

VUE Revenue Reconciliation

Solution Overview

VUE Revenue Reconciliation helps large distributors (MGA, FMO, IMO, and Brokers) as well as private exchanges, easily identify and resolve commission and revenue errors with your carrier partners.

Features

Book of Business

  • Manage your Book of Business and track revenue-producing events and adjustments
  • Manage product portfolio

Deposit Reconciliation

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

Projections

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

Account Receivables

  • Create receivables using specific revenue rules by carriers
  • Receivables aging

Revenue Reconciliation

  • Reconcile receivables against 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

Control Timing

  • Define separate events for projections versus receivables
  • Define separate events for recognition cycles
  • Define rules for proration, true-ups, or full amounts

Revenue Recognition

  • Recognize revenue as earned or unearned based on the occurrence of certain events
  • Post to general ledger

Reporting

  • Report review balances, receivables, mismatches, adjustments/write-off
  • Reporting ability to review recognized revenue
  • Manage gross to net revenues by product line and/or product

VUE Components

Producer Database

  • Producer profiles (accounts) with demographics
  • User-defined fields and entities

Tools to automate the work

  • Form designer with branching
  • Letter and email generator
  • Report writer

Communicate and approve with ease

  • Follow-up and submit requests for approval
  • Email links or documents one at a time or in bulk
  • Automate tasks and emails based on parameters you set

Hierarchy Management

  • Reporting and commissionable hierarchies
  • Special-incentive hierarchies

Tools to simplify the work

  • Work queue metrics and dashboards
  • Personalized queries and results
  • Audit trail down to the field and user level
  • Upload document
  • Exception tracking and escalation
  • Add notes at producer or credential level

Integrations

  • Standard integrations include policy data, premium data, commission files, general ledger, and agent balances
  • Standard web services
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VUE TOOLS AND TECHNOLOGY FOR
MGAs, IMOs & DISTRIBUTORS

“We are very pleased to be working with VUE Software as our technology partner to progressively move our company forward in agency management.  We will be better able to service our agents across the nation by providing enhanced online contracting and commission statements.  VUE Software will enable us to pursue our growth plans to become even stronger in the Field Marketing Organization arena.” 

Melvin Copeland

Founder & Chief Executive Officer

“VUE software offers a well-rounded, flexible system that will save us time, reduce risk and increase efficiency. I really enjoy the relationship I have with the VUE Software team, from sales to delivery. Everyone has a great attitude and is fun to work with,”

Heather Roberts

Licensing Manager

“We selected VUE Software’s Producer Compensation Management because it has a proven record of handling the complexities inherent in our business. The VUE Software team’s industry expertise and history of successful deliveries assured us that we are choosing the right strategic partner for this project.”

Ryan Patterson

Vice President

AUTOMATED REVENUE RECOGNITION

Whether it’s on a cash or accrual basis, VUE’s configurable revenue recognition engine makes light work of complex financial rules. VUE’s general ledger entries and reports include revenue recognition, deferrals, unearned and earned balances, and accrual balances.

EASY RESOLUTION OF DISCREPENCIES WITH CARRIERS

Eliminate confusion with user-friendly reports that provide discrepancy details that can be emailed to the carrier, and the ability to track the required adjustments.

Learn More About VUE Contracting & Compliance