The Deal Economy

5 common business challenges rebate management software can solve today

Are you looking for areas in your business operations where you can boost financial performance, increase operational efficiency and mitigate business risk? Rebate management software is designed to equip your company to achieve those objectives by helping you overcome the following business challenges once and for all.

Business challenge 1: Disparate, legacy software systems

Business impact:

  • Incomplete, often inaccurate picture of overall deal performance
  • Processes become excessively complicated and time-consuming
  • Cannot effectively plan ahead and make proactive decisions
  • Difficulties in consolidating meaningful and accurate data

Rebate management software: Stand-alone SaaS platform that consolidates all your deal information across multiple departments and locations – to provide real-time visibility into the performance of your deals.

Benefits of one system:

  • Equips you to make informed business decisions
  • Frees employees to focus on more strategic tasks
  • Access the latest data exactly when you require it
  • Informs all the relevant people
  • Full audit trail

Business challenge 2: Outdated and manual processes

Business impact:

  • Inefficient use of employee’s time
  • Repetitive data entry
  • Unnecessary amount of paper and spreadsheets
  • Increased human errors
  • Rebate data is unreliable

Rebate management software: Automates the collection of information about rebate deals and purchases and reliably reports rebate claims minimizing the need for manual intervention.

Benefits of automation:

  • Automatically calculates, accrues, and allocates rebates 
  • Saves you time by automating your processes
  • Maximizes supplier relationships
  • Cuts down number of discrepancies
  • Make better business decisions

Business challenge 3: Lack of collaboration internally and externally

Impact:

  • Inefficiencies trying to manage supplier relationships
  • Fail to pass on key information
  • Deals could fall through or disputes arise

Rebate management solution: Unites all functions into one piece of software where all deals information is input and calculated. With rebate management software, you can rest assured that there willbe no delay before key information reaches the relevant parties.

Benefits of a collaboration tool:

  • Invite your trading partners to collaborate
  • Message your team and trading partners
  • Sign off on your deals
  • Get alerts when close to hitting a new rebate tier

Business challenge 4: No access to real-time data

Impact:

  • Poor decision-making based on inaccurate historical data
  • Inaccurate financials
  • Missed opportunities
  • Invalid reports
  • Damaged reputation
  • Compliance issues

Rebate management solution: The more accurate and consistent your data is, the better the decision-making process will be. A system like Enable with a transparent audit trail will make sure that all relevant information is recorded, allowing easier monitoring and auditing to take place.

Benefits of having real-time data visibility

  • Informed negotiations can take place
  • Understand deal performance
  • Take advantage of up-to-date reporting
  • Both parties can access the relevant data
  • Make strategic business decisions
  • Notice and fix any errors before they become catastrophic

Business challenge 5: Mis-managing risk

Impact:

  • Fines
  • Employee turnover
  • Negative or damaged reputation
  • Missed opportunities
  • Lack of transparency

Rebate management solution: Managing hundreds of rebate deals always comes with risks. Having a single version of truth ensures auditability and avoids knowledge silos.

Benefits of better risk management

  • Accurate, up-to-date financial reporting
  • Identify risks before they become a problem
  • Provide better insights
  • Audit trail
  • Save time and reduce errors

What are your most pressing business challenges right now?

Rebate management software eliminates all of the business challenges mentioned throughout the article while simultaneously consolidating your company’s rebate data into a central location, providing one source of data for efficient operations. For any business hoping to compete in the digital era and beyond, Rebate management software is essential.

To learn more about how the right rebate management software can solve those challenges for you, schedule a demo with Enable.