data

Harnessing the power of your rebate data

Posted by Howard Cook on February 22, 2021 08:00:00

With the global pandemic, increased visibility into your data has never been as important as it is now. However, many organizations lack visibility into their data or their data is spread across disparate systems. A recent EY survey found that supply chain executives consider end-to-end visibility the most important factor in creating a successful supply chain, just 6% reported that they’re “very confident” in their ability to maintain that visibility.

Why having accurate rebate data is so important

Not only are supply chains complex but rebates are getting more complex than ever too. Keeping track of an increasing number of trading programs is a huge challenge for anyone so it’s very important to have a rebate management solution like Enable.

Having access to data about your trading programs allows you to make informed decisions, data can tell you about potential risks or areas of underperformance and also opportunities to increase growth or performance. Not only can data on your trading programs be used to generate insights like these, but it can also be used to help measure your growth by seeing how the data changes over time.

How we use granular rebate data

Enable uses granular rebate data to deliver flexible reporting, allowing earnings to be aggregated against key business elements such as products and branches. This level of data not only lets you see the performance of your trading programs, but how these individual elements have performed over the course of the program.

Combining data from different sources

Having granular rebate data by itself is powerful, but being able to combine it with other data you have in your business can be even more powerful. Granular rebate data can help reconcile other forms of data that you have to ensure that you are confident in your data and that no errors have been made, it can also be combined with data like stock numbers to determine the value of rebate in stock.

What dashboards can Enable support?

  • Rebate in stock - A great in way in which our granular rebate data could be combined with your other data is by using the rebate data for products from Enable with stock figures for various locations from your other systems to determine the rebate value of the stock sat in warehouses and distribution centres.
  • Program composition - There is a lot of data available about the programs that you configure in Enable. For example you might want an overview of programs against your trading partners to ensure you always have agreements in place, you might want to see what rebate rates and payment terms you have negotiated to ensure you are maximising you’re growth, or you may want to ensure that you’ve got coverage over a full range of products to make sure every transaction is contributing to your overall growth.
  • Program reconciliation - The data in Enable can also support more holistic views of how your trading programs are running financially. This reconciliation might include the total earnings for the rebate program, any adjustments to the earnings that have been agreed with your trading partner, the amount that has been paid on the program and remaining balance due.

How Enable can help improve your dashboard today

According to a Gartner report, over 50% of businesses have not yet actively started building a roadmap for supply chain digital transformation. If organizations invest in technologies like Enable this will allow them to connect with suppliers and make use of real-time data to make better informed decisions about their trading programs.

Enable’s API for example can be used to retrieve data about your trading programs to enrich your own data sets, driving powerful dashboards and helping you make informed, data-backed decisions. The data available spans from data about what kind of trading programs you have in place with your trading partners to the granular earnings that have been generated by these programs.

To find out more about the Enable API, check out our documentation.

Topics: Rebates