DealTrack Blog — Rebate Management

Buying group purchasing system — 7 essential features

Posted by Andrew Butt on February 27, 2018 09:16:00

Buying groups, as the name suggests, are formed to give buying power to smaller independent companies through purchase consolidation.

Whilst buying groups don’t typically have control over the systems implemented by members, they do need information from members in order to negotiate the best possible deals on their behalf.

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Topics: Rebate Management, Industry Sector: Buying Groups

Best practice rebate management

Posted by Andrew Butt on February 26, 2018 10:36:00

Rebate Management refers to the management of discount claims that are based on volumes of purchases over time.

To some companies, that rebate is treated as a bonus. But to others, rebates form a significant proportion of their revenue and for these companies accurate management is absolutely essential.

The management and processing of rebates is challenging, with significant financial risks if something goes wrong due to loss of data or human error.

Many rebate arrangements lack support in financial accounting systems, such as targeted incentives and multistrand rebates. Keeping a track of rebates when purchasing is decentralised or where the trading agreement is made by a buying group creates further challenges.

So what can purchasers do about these challenges in order to maintain an effective management process?

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Topics: Rebate Management

Spring 2018 webinar series: profitable growth from rebate management

Posted by Andrew Butt on February 14, 2018 11:34:06

For spring / early summer we have a series of three webinars planned to share more detail about our 3 step approach to profitable growth through:

  1. Mastering rebate accounting and maximising profit from rebate deals;

  2. Being prepared for and executing on smarter supplier negotiations;

  3. Collaborating with suppliers for mutually profitable growth.

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Topics: Rebate Management, Procurement Excellence, Rebate Management & Compliance, Rebate Accounting, Industry Sector: Building Materials, Industry Sector: Wholesale Distribution, Rebate Management & Growth, Industry Sector: Retail, Industry Sector: Buying Groups, Rebate Management System

Vendor rebate module: Requirements specification

Posted by Andrew Butt on January 18, 2018 13:49:00

You may be reading this blog for one of a number of reasons, e.g.:

  • Your ERP system doesn’t have a vendor rebate module
  • Your ERP system has a vendor rebate module but before implementing you want to draw up a requirements specification to check on the match to your business needs
  • Your current vendor rebate module needs some work to meet your business needs
  • You have more than one ERP system operating within your company, but need one module that sits across them all to manage vendor rebates across the whole business / group
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Topics: Rebate Management, ERP Vendor Rebate Modules

Choosing your rebate management system

Posted by Andrew Butt on January 9, 2018 09:20:00

Trading agreements involving rebates are prevalent in many industries such as building materials, lumber, HVAC, electrical distributors, buying groups of all types and other wholesale distribution businesses.

Rebates are used by suppliers to these industries to influence purchase decisions and drive profitable growth for both the supplier and the wholesaler.

Our buyers’ guide is aimed at those wanting to choose a system to address the issues posed by managing rebate agreements.

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Topics: Rebate Management, Rebate Management System

Contract management software for buying groups

Posted by Andrew Butt on December 7, 2017 10:11:00

Considering whether contract management software could be the solution for efficient, compliant, management of supplier agreements in your buying group?  

You’re not alone. According to a recent survey by Oxford Economics, 49% of procurement executives said that their contract management is already automated and 68% of those surveyed predicted that in 2 years’ time contract management processes would be completely automated.

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Topics: Rebate Management, Contract Management

Webinar: 3 steps to growth and better rebate management

Posted by Andrew Butt on November 30, 2017 08:22:00

Learn why organisations are looking for specialist rebate management software to solve their  issues, and how our implementation methodology leads to not only accurate rebate claims, but significant profitable business growth.

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Topics: Rebate Management, Rebate Management & Growth, Rebate Management System

6 ways to improve your rebate accounting processes

Posted by Andrew Butt on March 22, 2017 08:30:00

The complexities involved in managing complex trade agreements and accounting for rebates and retrospective discount payments are often difficult to model in manual systems such as spreadsheets and basic accounting software. Organisations opting to calculate, forecast and accrue rebate income in this way leave themselves at risk of inaccuracies, missed opportunities and supplier disputes.

Here are 6 ways to improve rebate accounting processes in order to:

  • remove the risks associated with manual processes
  • deliver a streamlined process for handling complex trade agreements
  • provide a foundation for growth in business profitability and revenue.
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Topics: Rebate Management, Rebate Accounting

4 rebate accounting mistakes to avoid

Posted by Andrew Butt on March 14, 2017 10:26:00

Businesses managing complex trading agreements face several hurdles that are difficult to overcome entirely when using manual processes and spreadsheets. Lack of transparency, inaccuracy and limited control of rebate accounting processes is common and the ramifications of these can have a damaging effect on profit, compliance, cash flow and business growth.

For retailers, wholesalers and large buying groups, solving these issues to ensure receipt of the correct amount of rebate income and achievement of mutual trading goals is critical.  So what are the common pitfalls of rebate management and how can they be avoided?

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Topics: Rebate Management, Rebate Accounting

Rebate management for building materials distributors

Posted by Andrew Butt on March 1, 2017 09:15:44

Missing out on claiming manufacturer’s rebates is like negotiating a higher price with your suppliers.  It simply shouldn’t happen!

That's why we created DealTrack — THE rebate management system chosen by several building materials wholesale distributors and buying groups.

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Topics: Rebate Management, Industry Sector: Building Materials