Rebate management blog - Page 21 - Enable

Four rebate accounting mistakes to avoid

The Deal EconomyMarch 14, 2017

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. For retailers, wholesalers and large buying groups, solving these issues to ensure receipt of the correct amount of rebate income and achiev...

IFRS 15 — creating smart deals to aid purchasing compliance

The Deal EconomyMarch 9, 2017

In our online guide “IFRS 15 — 7 steps to prepare for January 2018” one of our suggestions is to review every deal in every contract and make it SMART. We think that whilst it’s a good idea as part of financial compliance, SMART deals are good for anyone who manages a contract with complex rebate deals, so we thought we would share it with you. A SMART deal is like a SMART objective in project management terms, namely: Specific Be VERY specific. If a deal refers to “across all product lines”, i...

Rebate management for building materials distributors

The Deal EconomyMarch 1, 2017

Missing out on claiming manufacturer’s rebates is like negotiating a higher price with your suppliers. It simply shouldn’t happen! That's why we created {{cta('a2f66229-8bba-41bc-b443-cb17df844880')}} — THE rebate management system chosen by several building materials wholesale distributors and buying groups. There are many examples in the building materials business where, instead of agreeing an up-front discount, discounts are given in the form of rebates based on actual volumes purchased. Fo...

IFRS 15 — seven steps to prepare for January 2018

The Deal EconomyFebruary 16, 2017

IFRS 15 ‘Revenue from Contracts with Customers’ comes into force on 1st January 2018. The new financial reporting standards (IFRS 15) have a particular impact for businesses who regularly have contracts that contain “elements of variable consideration”. IFRS 15:51 provides us with examples of “variable consideration” which include rebates, incentives, refunds, performance bonuses, credits, price concessions, penalties or other similar items – items that impact the real net-net price and ultimat...

Three major risks of not having a robust rebate management system

The Deal EconomyFebruary 15, 2017

It isn’t unusual to find that rebate agreements cannot be fully represented within ERP systems and spreadsheets, resulting in disparate sources of information being stored within ERP systems, spreadsheets and even people’s heads! This management headache is multiplied when you consider these 3 major risks: lack of control over profitability, with poor understanding of true margin at point of sale, and roughly estimated true product costs feeding into profit calculations missed revenue opportun...

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