What if you could stop piecing together your revenue position manually and instead see what is happening with your earnings in real time? Whether you are the adviser or the practice manager, keeping a pulse on revenue is one of the most important aspects of running your business.
Unlock the full potential of your revenue data.
When it comes to managing practice performance via CommPay, what we often hear is that firms want faster, clearer insight into where revenue is coming from, what is on the way, and where trends are emerging. In this article series, our goal is to highlight the most powerful, yet underutilised, features that help you derive more value from CommPay.
Let’s start with a core capability for revenue visibility: CommPay Access in Xplan.
Before diving into the details, here is why using CommPay Access in Xplan is worth the effort for your practice:
- Gain real-time visibility into your earnings.
- Identify revenue trends and growth opportunities faster.
- Monitor expected cash flow.
Key visibility opportunities
CommPay Access in Xplan provides a practical set of tools to monitor, analyse, and report on your revenue. These include:
1. Dashboards and widgets
Think of dashboards as your practice’s command centre. They are designed to provide quick, clear snapshots of your revenue and can be tailored with widgets that surface the metrics most relevant to your business.
Recommended widgets include:
- Revenue analysis: Group transactional data by revenue type, supplier, or date range, and display it as bar, column, grid, or pie charts.
- Top clients: View a 12-month snapshot of your highest revenue-generating clients so you can identify opportunities for deeper engagement and referral growth.
2. Pending transactions
Want to know what revenue is arriving next? The Pending Transactions screen acts as your "revenue radar," providing a high-level view of records waiting to be paid in the next cycle, allowing you to see expected cash flow earlier.
This helps reduce the need for follow-up calls to your Licensee by providing an instant view of what is on the horizon.
Note: This view pulls from supplier statements currently being processed. Incoming revenue figures are visible first, while final splits—such as dealer, adviser, and referral—appear once final period processing is complete.
3. Transactions analysis
When you need to go beyond high-level summaries, the Transactions screen is your analytics engine. It lets you drill down into the details of specific revenue or filter data for custom analysis.
The Comparison Period tool makes it easy to compare revenue across similar periods so you can spot peaks and troughs at a glance.
4. Static reconciliation reports
While dynamic dashboards provide a window into real-time performance, our static reconciliation reports remain the essential "source of truth." Perfect for compliance audits and regulatory reviews, these reports provide a reliable, permanent record of your data at any point in time.
A couple of recommended reporting highlights include:
- Revenue received vs. expected with FUM: A clearer view of practice health by tracking revenue and FUM metrics by Client Group.
- Monthly fluctuation report: An easy way to spot gaps or growth over a 12-month period.
With these tools in place, you can move from simply reviewing revenue to actively using it to guide business decisions, uncover trends, and support growth.
Next steps to get more from CommPay access in Xplan
When you are ready to dive deeper into revenue management, there is a short micro-learning session available through the Iress Learning Centre to help you get up to speed quickly.
Please talk to your Licensee about how you can obtain access.
