Case Study: Sky Financial Corporation Shines Brightly with QCommission

SKYFinancial

Sky Financial Corporation is one of the Canada’s most established and first national mortgage broker. The company is dedicated to providing a client with the information needed to make a well informed decision on mortgage financing needs combined with better rates than what the banks offer.

 

Sky Financial was in search of a commission software that could integrate with Excel as well as QuickBooks. The commission plans used by Sky Financial Corp. are fairly complex as commissions have to be calculated on profit after considering various fees such as Finder and Royalty fees. Sky also wanted the software solution to be able to pay bonuses, manage splits between payees, to have an option to enter additional fees, if any and tie it to the specific deal. Further requirements included: Option to override the commission rate; Option to deduct the overhead expenses which might change from period to period from total earned commission; and the flexibility to decide full time verses partial payees in the commission system for licensing purpose. Adding to the software requirements, Sky wanted the solution to import the earned commissions to the Vendor Bills tables in QuickBooks.

Nicole Harries, Managing Partner at Sky Financial Corporation, researched the market for suitable software and elected to go with QCommission from CellarStone Inc. The QCommission Implementation team conducted a kick off meeting with the customer and configured the plan changes. The application easily integrated with  QuickBooks to bring in the transaction and other related data and also to export the commission and bills back to QuickBooks for payment. Implementation team then trained Managing Partner Nicole Harries, to use the software effectively.

“I recently purchased the QCommission automated commission software. It’s been of great help for me as I was spending two days calculating all the commission for our Agents plus one day to create the commission report.  It was very consuming. Since then, I simply enter my data on Fridays and the commission software will capture the commissionable income from the QuickBooks import into the commission software. It can be customized to suit your needs. The best of all, once the commission is calculated for you, it generates a commission statement for each agent and their company. Then QCommission will export all the commission due, back into QuickBooks under your bills, apply the bill payment and you are done. There is not double entry to be made (copying the results into QuickBooks software). I have so much time on my hands now, that I can focus more on expanding our business and recruiting” , Says Nicole

Quote:

“This is an excellent software to work with. Made my life a lot easier. I save two days of work just by using this software” – Nicole Harries, Managing Partner at Sky Financial Corporation

About Sky Financial

Sky Financial Corporation, operating as the Mortgage Centre, was established in August 1992 by Bill Harries and other associates. Two other offices have been opened since 1992, one in Fort McMurray, and one in Saskatoon.
As a mortgage associate, we are a facilitator. Our service is personalized and tailored to meet our client’s needs. Mortgages are our expertise, we have an in depth knowledge of the market and are very familiar with products offered by all leading lenders. Due to the volume of business generated by Mortgage Centres across Canada, we are able to obtain discounted rates for our clients.
We specialize in 1st, 2nd mortgages, refinance in equity take out up to 100% (on approved credit) and commercial / business loans. 100% Financing still available on purchases (cash back incentives); must have excellent credit history.

About CellarStone

CellarStone provides a suite of different software solutions and services for customized commission calculating. CellarStone’s suite includes powerful and easy to use software QXchange and QCommission. QXchange provides integration expertise with custom developed software based on customer requirements. QCommission is a powerful, flexible sales commission software that calculates commission accurately by eliminating errors related to spreadsheets and manual methods.  When used in harmony as a virtual accounting department, the best and fastest results are produced.