11 ways to improve your rebate accounting processes - Enable blog

▤ Summary

Calculating retrospective income manually leaves organisations open to error and inaccuracy, which in turn impacts reporting, forecasting, profit margins, cash flow and audit compliance. Whilst blame shouldn’t be attributed to either party, after purchasing close a deal, clarification of the intricate details that make up each agreement type is often "lost in translation". Implementing a single access point for purchasing teams to input their deal information and ensure internal management sign-off, as well as external supplier sign-off brings numerous benefits. And by ensuring accurate data is available to negotiate with and that deals can be quickly signed off, your rebate accounting processes are streamlined for ultimate speed, efficiency and accuracy. This can be used: • by purchasing teams in order to consistently negotiate from a position of strength • by sales people to understand the accurate margin information when negotiating with customers • by finance to collect rebate income and report profitability Its all very well being able to report after the fact, but you can really drive business profitability by automating your rebate accounting processes in the form of alerts for potential missed margins, contract renewals, impending incentive targets and so on.

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