What is 'disbursement method' in SAP ICM - Incentive and Commission Management (ICM)?

disbursement method - Overview

• Component: ICM

• Component Name: Incentive and Commission Management (ICM)

• Description: Incentive and Commission Management The disbursement method defines how commissions are paid out. It describes which outgoing payment system is used to transfer commissions to the commission contract partner. Possible outgoing payment systems for insurances are: disbursement systems HR systems vendor systems

disbursement method - Details

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  Key Concepts: 
  Disbursement method is a feature of SAP ICM Incentive and Commission Management (ICM) that allows users to define how payments are made to commission recipients. This includes setting up payment methods such as direct deposit, check, or wire transfer. It also allows users to define payment schedules, such as monthly or quarterly payments. 
  
  How to use it: 
  To use the disbursement method feature in SAP ICM, users must first set up the payment methods and payment schedules. This can be done by navigating to the “Disbursement Method” tab in the ICM configuration menu. From there, users can select the payment method and schedule they wish to use. Once these settings are saved, they will be applied to all commission payments made through ICM. 
  
  Tips & Tricks: 
  When setting up the disbursement method in SAP ICM, it is important to ensure that all payment information is accurate and up-to-date. This includes verifying bank account numbers, routing numbers, and other payment details. Additionally, it is important to ensure that all payment schedules are set up correctly so that commission payments are made on time. 
  
  Related Information: 
  For more information on setting up disbursement methods in SAP ICM, please refer to the official SAP documentation here: https://help.sap.com/viewer/product/SAP_ICM/latest/en-US/f8d7f9a2b3e14c8a9f3d7c2b6f5e4d1a.html