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The Challenge
During its growth phase, Kognity encountered significant challenges with its commission management system that relied heavily on spreadsheets. Although initially flexible and straightforward, using spreadsheets soon became cumbersome as the company scaled.
Manual and vulnerable with spreadsheets
The reliance on spreadsheets increased the likelihood of human errors—a misplaced or deleted cell could disrupt entire calculations. This vulnerability posed a risk of financial discrepancies and might affect the integrity of commission tracking.
Configuring new commission plans every time also monopolized up to two weeks of dedicated work, which was unsustainable demand on resources as Kognity grew. Due to his familiarity with the complex spreadsheet setup, this task largely fell on Nicholas Johansson, the co-founder of Kognity.
Scalability issues
As Kognity’s business expanded, its commission plans grew more complex and demanding. The existing spreadsheet system which was built for simpler times led to a lot of inefficiencies and there was a need for a scalable solution.
The Solution
In response to these challenges, Kognity turned to Everstage, seeking a scalable and robust commission management solution that promised to alleviate their growing pains through enhanced features and support.
Flexible and customizable platform
Everstage provided a platform that struck an optimal balance between customization and ease of use. This flexibility allowed for easier transition and better alignment with Kognity’s operational needs without being overly complex or rigid.
Multi-currency management
Operating internationally, Kognity required a system capable of handling multiple currencies seamlessly. Everstage’s robust multi-currency capabilities ensured accurate and efficient transaction processing across different geographies. This was crucial for maintaining accuracy in payouts and financial records.
White-glove support and domain expertise
The transition to a new system can be fraught with challenges, particularly with complex commission models. Everstage’s professional services team played a pivotal role in ensuring a smooth implementation.
The Results
By partnering with Everstage, Kognity not only resolved its immediate commission management issues but also positioned itself for future scalability and efficiency, ensuring that its commission processes are robust, transparent, and aligned with its strategic business objectives.
Reduced dependency on key individuals
Switching to Everstage facilitated smoother operations and also enhanced business continuity planning by transferring institutional knowledge into the product. This reduced the dependency on a few key individuals, mitigating significant business risks.
Strategic commission planning
Everstage’s strategic support transformed how Kognity approached commission planning. The Everstage team provided insights that were instrumental in optimizing Kognity’s commission strategies, leading to simpler and more effective plans.
