Rebate management blog - Page 20 - Enable

We pride ourselves on delivering software solutions that are robust, polished, and user-friendly. Our manual testing process is one of the ways we achieve this. By being attentive to testing of this kind as early as possible in the implementation process, a solution is a lot more likely to be secure, reliable, efficient, maintainable and provide a high standard of usability.

What is manual testing?

Manual testing is the practice of testing software by manually using the system, without any automated tools. This testing is completed once a piece of functionality has been created or altered, but before it is delivered to end users.

The main goal of this testing is to confirm that the system meets the requirements defined in the functional specification. In addition to this, manual testing improves the quality of our applications since its always performed by a developer who did not develop the work that they are testing: a fresh pair of eyes. This means that every change made during a project build phase is scrutinised and critiqued by at least two people.

6 min read

Rebates were “invented” as a way of driving sales growth without simply reducing the contract price. By agreeing these retrospective financial incentives based on actual sales, both the supplier and the distributor are working together to drive market share and growth. Rebates often act as either a reward for loyalty or as an incentive for increasing trade with a specific trading partner because the benefits of a rebate agreement tend to improve as trade with the trading partner increases. Rebat...Continue reading

Your business never stands still — so neither does our software. Remaining up to date with the latest technology keeps your business ahead of the pack by providing you with new or enhanced features and reducing potential security risks. In addition to these, they can also improve software performance, eliminate known bugs, offer better compatibility with different devices and remove outdated features taking up valuable hard drive space. It goes without saying that regular updates to your is software is critical to your business’s success.

What is Enable’s approach and how often is DealTrack updated?

Enable is committed to ensuring our software is constantly being updated and improved. To achieve this, we release a new DealTrack update every six weeks.

Each DealTrack update is carefully constructed from a combination of invaluable client feedback, research on current market demands and technical recommendations from our experienced development team. This means we learn from any past problems, look ahead to future trends and make the most of the latest technological advancements.

6 min read

In business, procurement and finance are two separate departments, working alongside one another within the organisation. The procurement function is about spending the money well and driving more for less from suppliers, and the finance team is all about keeping the balance sheet in check and driving profitability. While this relationship works for some companies’ others not so much, which isn’t the most efficient and effective way to handle business operations especially when vendor rebates ar...Continue reading

Customer rebates are what a seller pays to another business whether they’re a direct customer, an indirect customer, or a buying group. Customer rebates are a key contributor to the flourishing Deal Economy, which last year was worth $500bn in the US alone. The following blog outlines the challenges faced and some practical steps you can take to regain control of your customer rebate programs, and start maximizing their value to your business. What is a customer rebate program? Customer rebate...Continue reading

For any business to be successful, it’s vital that a profit is made enabling continued success and to provide opportunities for growth and development. But, making a profit isn’t always as easy as it may seem. Once all the necessary expenses and costs have been paid out, its then essential enough sales have been made just to break even, let alone have anything extra to realize a company’s ambitions.

Although this can be extremely challenging at times, it’s also possible to increase the profitability of your business by spotting opportunities. Collecting rebate agreements on time, consistently and accurately could be one of these opportunities. Rebate management is the process of recording supplier agreements, tracking purchases and sales against those agreements, and managing accruals and rebate claims in a timely manner.

5 min read

Finance and accounting departments tend to rely on Excel spreadsheets to manage a growing business’s financial data because they know it, they understand it and old habits die hard. But excel errors are always a risk, in fact various studies report that nearly 9 out of 10 accounting spreadsheets (88%) contain human errors. Moving forward to today, the use of accounting spreadsheets does appear to be in decline, according to a 2018 Benchmarking the Accounting & Finance Function report by Rob...Continue reading

Whatever industry you are involved in, forecasting the potential earnings for your business is essential in preparing for the ups and downs of the year ahead. Although a complex task, forecasting helps you make important decisions about your budget, such as how many employees you can afford to hire or how much you can spend on marketing.

You wouldn’t be able to make these decisions if you don’t know how much revenue and profit, you’d be generating, which is where forecasting comes into play.

Why is accurate forecasting important?

Accurate forecasting and accurate accruals are vital to success within your business to ensure that you are aware of what the future is likely to hold so that you can appropriately allocate resources to assist in key areas. Accurate forecasting also helps you reduce unnecessary spending, avoid missing potential opportunities and means you can manage your cash flow better.

For many businesses, forecasting is not a focus and even for those that make a point to forecast their future, various challenges can limit the accuracy and benefit of these financial forecasts.

Challenges of forecasting rebates

Businesses face several challenges when developing forecasts and can lose a lot of precious time in the forecasting process. It becomes even more strenuous when there is a lack of common tools and inconsistent approaches. With this in mind, let’s dive in to the four common challenges of forecasting rebates.

1. Many in-house forecasting tools are too basic.
2. Renegotiating the best deals in the future.
3. The forecasting process is too manual.
4. Forecasts are not updated throughout the deal.

8 min read