Executive Summary
Coldwell Banker Advantage is based in Raleigh, NC, and serves the Research Triangle & Triad area with 18 offices and over 550 agents. They were introduced to Profit Power in 2018 by their sister company, Coldwell Banker Seacoast Advantage, a long-time Profit Power customer. Once introduced to the features and functionality, they quickly realized the many advantages they would gain over the back office software they were using.
Challenges
The back office software Coldwell Banker Advantage was using before Profit Power didn’t offer the ability to change commission plans. The reports were very cumbersome to work with, and the interface was not user-friendly. On top of all of these challenges, the customer support offered was not very helpful.
Why Profit Power?
When Coldwell Banker Advantage’s sister company suggested they look at Profit Power, it was immediately apparent that there were some significant benefits to making a switch. The user interface, commission plan options, reporting features, and support team all looked as if they would significantly improve their current back office operations.
Initially, there was some trepidation around changing software systems, but the Profit Power implementation and training teams made it a smooth process.
Accounting Manager Susan McKenzie had this to say about the implementation process, “Any time you switch back office accounting systems, you are going to have some hiccups. However, the Profit Power team reviewed any issue we ran into with care, and the solution implemented was always smooth. Overall the process was easy, which was not what we expected.”
Results, Return on Investment, and Future Plans
Since implementing Profit Power, Coldwell Banker Advantage has eliminated workarounds to process commissions and have rid themselves of spreadsheets they had built manually to process reports their old software couldn’t handle. When asked what feature has been most beneficial, McKenzie said, “Automatically sending out reports each month to managers is a huge time saver for me. Previously, I had to send our reports to managers each month manually, and now Profit Power automatically does this. Our managers love this because they receive an email with a live link to the report, and they can go back anytime to that report if they need to reference it instead of contacting the accounting staff to provide the data.”
In addition to the features gained with commission plan processing, custom report creation, and automation, the customer support and training experience has been very positive. “Anytime an issue arises, it is addressed very quickly by the Profit Power support team. They keep us in the loop as to what is going on until the issue is resolved. Also, the training was great, and it is ongoing. We feel we have continuous training if we need it from a very knowledgeable and friendly staff,” said McKenzie.
With all the time savings Coldwell Banker Advantage has gained through automation of commission calculations and reports, plus the ongoing help from customer service, the back office accounting group has dedicated much more time supporting their agents and managers.
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