Vendor points setup
A lessor can offer payout points to lease originators for bringing in a deal as defined in the program. These payout points translate into a percentage of the equipment cost or the amount financed. Lease originators can be dealers, vendors, manufacturers, and brokers. On the lease application, the points associated with the program or product are configured. Further, points may be paid out to multiple parties for the same deal. A lookup for an account payable is selected to associate points with the accounts type as Vendor, Manufacturer, or Broker for an application.
The lessor can review and manually override the vendor points as configured in the vendor program to best suit the deal.
With the Hydrogen release of Q2 Origination, you can perform the following actions:
Configure Vendor Points on an application to be paid out to a lease originator.
Configure the calculation basis on which the commission amount is calculated.
Add a new set of Vendor Points to an application.
Workflow
The following image illustrates the workflow to configure Vendor Points and associate them with lease applications:
Define Vendor Points Setup
Prerequisites
None.
Steps
Perform the following steps to define a Vendor Points setup:
Log in to your Salesforce account.
Select the
App Launcher .
Search for Q2 Origination, and then select it.
Go to Origination Configuration > Points.
Select the New Points Setup link, and perform the following actions, and then select Save.
You can make changes to or delete a setup from the Action column in the UI.
Field Name Action and Information Points Name The name of the points being configured for. For example, a points setup for a real estate deal can be named as Real Estate.
Calculation Basis The amount on the basis of which the payout points are calculated. The calculation set framework of the Q2 Origination is used to configure the amount on which configured points are calculated. For example, on overall equipment cost and financed amount.
Points Type Select the type of lease originator here.
The supported options are:
Vendor
Manufacturer
Broker
Disbursement Basis Disbursement Basis determines the method/time when the points have to be paid out. The various options are: Contract Creation, Monthly over the contract term, and Hold till the contract end. This is captured as information only in Q2 Origination. The payout of points needs to be handled in the servicing system.
Start Date
End Date
Specify the start and the end dates to indicate the validity period of this configuration.
Points The actual points value to be applied to the points setup. Enabled Indicates if the configured Vendor Points are enabled on the product. Select this check box to activate the configuration.
Define Rule
Prerequisites
The following is the prerequisite to define the rule:
- The Points Setup is configured.
Steps
Perform the following actions to associate the rules with the configured Vendor Points setup:
In the Points Setup section, select a vendor point.
Select Add New Rule.
The rule defines the application attributes set for applicable Vendor Points.
You can also make changes to the defined rule in the Rule section.
In the Criteria Details section, provide the following details:
Field Name Information Rule name The name of the rule being defined. This rule validates the presence or absence of a requirement.
Object The object for which the rule is created. This must be an Application. When an Application is evaluated, the Object Type value of the Application allows creating a filter on its related objects. Sequence The sequence number of the defined criteria associated with the rule. Related Object The object on which the rule is defined on the points configuration. Field Name The field or attribute of the object that is being measured or evaluated through the evaluation rule. Lookup Object Field Name
Second Level Lookup Field
The value of the lookup object selected in the Field Name field.
Operator The operator value used to define the criteria for evaluating the value. For example, >, =, <=, or BETWEEN. Value The value used to set an operator. This value is evaluated or matched while defining the criteria.
Evaluation Rule The Evaluation Rule defines how the criteria should be evaluated in order to determine whether the defined rule is qualified for an application object. This can be achieved using the evaluation expression. In case of multiple criteria, the evaluation rule allows you to combine multiple criteria and run on the application object. The evaluation expression can use the AND, OR, ( and ) operators to specify the evaluation rule.
In the Evaluation Criteria section, define the evaluation expression for the defined criteria.
Select Save.