Choice Aggregation Services (Choice) members will be better equipped to understand and manage the performance of current and future trail payments through the introduction of an innovative new tool called Podium Perform@.

Launched in late April, the Choice system enables brokers to accurately calculate future trail income as well as forecast the impact of increased loan volumes on their income for up to five years.

Podium Perform@ has been integrated into the aggregator’s market-leading software platform Podium, and according to Choice CEO Brendan O’Donnell it will be invaluable in helping Choice members manage their cash flow and better plan their business strategy.

“Creating Podium Perform@ has been an important focus for Choice management as we view it as an essential tool to give members a clear advantage in what can only be considered challenging market conditions. Long-term planning is pivotal in the success of any broker business and our members are now better equipped to prepare for the future.

“This is an industry first and a development that will give our members a point of difference when it comes to planning their future business growth,” O’Donnell says.

Not only can Choice members now map future trail payments for up to five years with Podium Perform@, they can also compare commissions earnings from different lenders over the life of a loan.

Members can also set monthly and annual settlement targets based on projections while developing an overall more robust approach to business planning, goal setting and forecasting.

More importantly, Choice members can now make strategic decisions about their business with greater certainty about their cash flow, O’Donnell says.

“While some brokers will always be happy as sole operators there are others who plan to grow their business by taking on new loan writers and hiring back office staff.

“With the introduction of Podium Perform@ our members can now work out what loan volumes are needed to support hiring staff, which will be invaluable in making informed decisions when building their business.”

Podium Perform@ will undergo continued development with a planned launch of Phase 2 in 2010.

According to O’Donnell, Phase 2 will include additional reporting functions plus the dynamic ability to allow members to view the performance of their current and future trail commission.

“Australia is going through tough economic times and the mortgage industry has certainly been impacted. Nevertheless I believe that current market forces are paving the way for substantial advances for the industry and have driven innovation - such as Podium Perform@.

“Necessity is the mother of invention; Choice members are now equipped with a key set of analytical tools to drive business growth regardless of market conditions.