When undergoing an innovative project, it helps to commission the assistance of an external team like Cyber Group who is skilled in these types of projects. This can increase ROI, decrease overhead, and save time and money. The project was associated with application development for a Commissions Engine and a Broker Portal for Commercial and Industrial Retail Energy Business.
The CEO of the company wanted his sales and marketing staff to be able to roll out innovative commissions to their brokers. He also wanted the broker portal to be “sticky” to the broker so they could see how the revenue for their respective businesses was projected to flow with closed deals or deals in the pipeline that were about to be closed. We sat down with the executive team to do a deeper dive into the vision and to produce a backlog of user stories. We helped them prioritize what the minimum viable product would be for phase one and future phases.
We built a state-of-the-art Commissions Engine with a broker portal, where sales analysts from the CSO’s team could go in and configure it without writing a single line of code. This provided an innovative
way to roll out new commissions while being available for the brokers logging into the broker portal. This allowed for offering multiple commission options to choose from while structuring a deal and giving in-depth commission reports. This was so important for the Retail Energy Company. In the commercial and industrial business segment, almost one hundred percent of the business dealings are done through a broker. Since brokers have no loyalty, whichever retail energy provider offers the fewest basis points with the higher margin is who they tend to go with.
The primary goal of this project was to allow the client to sell more. The secondary goal was to build broker loyalty. Before this, these brokers had to have their staff manage spreadsheets in order to have an idea of how much money would be coming, and over what period of time. Now the CNI business is brand new and they have had record success with brokers rolling into their system and sticking to their system. Our client became the number one retail energy company to be sought out by the broker community. That was very positive for our client and a successful project for us at Cyber Group.