In today’s dynamic business environment, managing payee onboarding, offboarding, and all the job changes in between is a complex challenge — especially when it comes to ensuring payees are properly configured for sales commissions.
Within commission plan administration, Payee Lifecycle Management refers to all the ongoing tasks comp admins and IT admins have to perform to manage payees joining, moving within, or leaving their organization.
For many admins today, managing the payee lifecycle is a significant burden. Onboarding a new payee demands as many as seven actions — from license provisioning, to defining reporting relationships, assigning comp plans, and more.
The traditional process of completing these actions manually is time-consuming and error-prone.
Each step relies on data inputs from several departments and applications – introducing friction, bottlenecks, opportunities for human error, and security risks. The pressure to deliver accurate, on-time payouts is exacerbated by these inefficient processes. And for enterprise organizations with hundreds or thousands of payees, the pain and stress is even more acute.
To solve these challenges, CaptivateIQ is excited to introduce Payee Lifecycle Management Automation, the first Incentive Compensation Management offering with a vision to automate every step of Payee Lifecycle Management, end-to-end.