What is commission on in-force business maintenance in SAP ICM - Incentive and Commission Management (ICM)?

SAP Term: commission on in-force business maintenance

• Component: ICM

• Component Name: Incentive and Commission Management (ICM)

• Description: Incentive and Commission Management Commission paid for maintaining in-force business and for collections if relevant. The parts paid out for maintaining in-force business and those paid out for other areas are not normally reported separately.

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• Key Concepts: 
  Commission on in-force business maintenance is a feature of SAP ICM Incentive and Commission Management (ICM) that allows companies to manage and track commissions for existing customers. This feature enables companies to accurately calculate and pay commissions for existing customers, as well as to track changes in customer information over time. 
  
  How to use it: 
  To use the commission on in-force business maintenance feature, companies must first set up the commission structure in SAP ICM. This includes defining the commission rates, payment terms, and other parameters. Once the commission structure is set up, companies can then enter customer information into the system and track changes over time. The system will then automatically calculate and pay out commissions based on the customer’s current information. 
  
  Tips & Tricks: 
  When setting up the commission structure in SAP ICM, it is important to ensure that all parameters are accurately entered. This will ensure that the system is able to accurately calculate and pay out commissions for existing customers. Additionally, it is important to regularly review customer information to ensure that it is up-to-date and accurate. 
  
  Related Information: 
  For more information about SAP ICM Incentive and Commission Management, please visit the SAP website at https://www.sap.com/products/incentive-and-commission-management.html. Additionally, there are many online resources available that provide detailed tutorials on how to use this feature of SAP ICM.