Many distributors are moving to the cloud to reduce IT costs. A cloud-based rebate management system can also give a significant boost to revenue and margin.
DealTrack Blog — Rebate Management System
Topics: Rebate Management System
The rise of Amazon Business has distributors rattled. To compete, distributors should focus on the things Amazon can’t provide—using the Deal Economy as fuel.
Rebates: the way that product-based businesses incentivize their customers to buy more of their goods, are complicated. While much information is available about supplier rebates and the ways in which suppliers can claim as much of their rebates as they are entitled to, less has been written about customer rebates: the other side of the story.
If you’ve ever been confused about terminology relating to rebate management, you’re not alone! The world of rebates is a complicated place at the best of times, especially when there can be multiple different names for the same thing.
When it comes to rebates there are two sides of the story: customer rebates and supplier rebates. How to differentiate the two can cause confusion. So, to explain the difference between customer and supplier rebates we will take a different approach and think of them like a tango, rather than a war.
When things are done well, no-one questions what happens behind the scenes. Tailored simplicity — that’s how we work, at Enable. However, the problem with simplicity is that when it’s done well, like a magic trick, people want to know how it was done. So we thought we’d raise the curtain to show you what’s really going on behind the scenes and why it’s so easy to import your rebate data with DealTrack.
There are two sides to the customer rebate story: the customers’ side where, historically, retailers and distributors have not always been paid the full value of the rebates they should have received; and the manufacturers’ side (those who offer the incentives in the first place).
Most businesses have a process in place for forecasting for the future. Forecasting, commonly defined as “the process of making predictions of the future based on past and present data and most commonly by analysis of trends”, is about being able to account correctly for earnings throughout the year.
Supplier rebate deals should be a win-win, benefiting manufacturers and distributors alike. But too often they lead to distributors losing revenue, and suppliers losing trust…
While spreadsheets are undeniably easy to use, widely available and highly adaptable much has been written about the danger of using them in contexts where there is just too much information, or where that information is too important to risk to human error. A prime candidate is the case of rebates: both customer rebates and supplier rebates, where even the smallest error can result in losses of tens or hundreds of thousands of dollars. Since spreadsheets are so easy to use it is also easy to make mistakes, to change data, make errors and worse, not spot the errors and carry on with business as usual. The result is that incorrect information can cause issues when you are trying to understand your business’s financial position down the line.