Quay software launches automated commission tool

Research shows that a third of IFAs identified automated commission reconciliation as a vital tool for their business

Quay Software, part of Capita Group, has introduced an automatic commissions module – a time-saving tool allowing IFAs the opportunity to automate and track their commission.

Roland Rawicz-Szczerbo, director of Quay Software, says: “In a recent poll, we found that almost a third of advisers named automatic commission reconciliation as the tool that would offer most value to their business efficiency, so this product is in response to a need in the marketplace.”

Commissions can now be delivered electronically into the recently launched client care desktop V3.3 and reconciled automatically. The service will be available to users of client care desktop and can be included at the time of V3.3 installation, or incorporated at a later date.

Rawicz-Szczerbo adds: “This kind of service takes the traditionally labour intensive task of commission tracking out of an IFA’s job, allowing them to spend more time on advising their clients.”

Commission reconciliation has been around for many years, but it is only recently that the necessary technology has existed so that IFAs can gain value from this data, allowing them to automatically process and reconcile their commissions.