202208 Aug

What does an efficient rebate process look like? | Enable blog

Summary

As SpendDesk reminds us, it’s helpful to ask, “Are these systems fit for purpose?” and “Are they holding us back?” It’s also critical to enable team members to do their jobs as efficiently as possible and to make the most of their time. An efficient rebate process allows teams to work together effectively, review contracts regularly, keep track of deals, and make or collect accurate payments on time based on correct data. Enable fit the bill.” Pay and collect accurately and on time For all partners involved in rebate management: suppliers, manufacturers, distributors, retailers, and buying groups, one of the greatest frustrations is payment inaccuracy and delay. Our data integration and cleansing service ensures that clean, accurate data can be imported from your ERP or other source systems from day one so you never end up with ‘garbage in, garbage out.’ In their research on taking supplier collaboration to the next level, McKinsey & Company reports, “When buyers and suppliers are willing and able to cooperate, they can often find ways to unlock significant new sources of value that benefit them both.” That’s what happens when an efficient rebate process is used as the bedrock of solid partnerships and all partners use the same efficient rebate process: Adversarial relationships become truly collaborative. With efficient rebate management processes, however, finance, procurement, sales, purchasing, and commercial departments can determine the exact details to identify whether a deal is working and how and when partners should be reimbursed.

Source: Enable

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