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.
DealTrack Blog — Rebate Management
Rebate Management refers to the management of discount claims that are based on volumes of purchases over time.
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:
Mastering rebate accounting and maximising profit from rebate deals;
Being prepared for and executing on smarter supplier negotiations;
Collaborating with suppliers for mutually profitable growth.
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
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
The task set for procurement leaders in buying groups is to save costs. Whilst that is done at the contract stage, the process of making those cost savings often depends on having the right systems in place.
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.
The complexities involved in managing complex trade agreements and rebate accounting 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.
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.
Missing out on claiming manufacturer’s rebates is like negotiating a higher price with your suppliers. It simply shouldn’t happen!