Rebate management blog - Page 23 - Enable

6 ways to improve your rebate accounting processes

The Deal EconomyMarch 22, 2017

The complexities involved in managing complex trade agreements and rebate accounting and retrospective discount payments are often difficult to model in manual systems such as spreadsheets and basic accounting software. Organisations opting to calculate, forecast and accrue rebate income in this way leave themselves at risk of inaccuracies, missed opportunities and supplier disputes. Below are 6 ways to improve your rebate accounting processes in order to: remove the risks associated with manu...Continue reading

4 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 example, an accounting mistake that supermarket retailer Tesco made meant a £129m fine to avoid prosecution by the FCA for overstating i...Continue reading

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...Continue reading

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')}} — 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. For th...Continue reading

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 ultima...Continue reading

3 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...Continue reading

4 alternative solutions for rebate accounting

The Deal EconomyFebruary 7, 2017

Most businesses have a choice of 4 types of system to manage their trading agreements, but that doesn’t mean each one is the right fit for every business. We explore all options below. 1 — Your core ERP system Basic ERP systems do not cope with vendor rebates very well at all. Some ERP systems do have bolt-on vendor rebate modules. They tend to provide some flexibility but in a very complex environment the standard module is often not up to the job and incapable of modelling all the product / pr...Continue reading

Sales record for Enable — for 17th year in a row!

Build It BetterFebruary 1, 2017

Stratford-upon-Avon based software developer Enable has closed another record year in 2016 by sustaining double digit growth.

Sales for 2016 increased to more than £3.15m, up from £2.65m the previous year which represents an increase of 18.6% — more than £500,000. Licensing and implementing Enable’s new DealTrack software product was responsible for a significant portion of the growth.

During the year the company also welcomed 7 new starters on-board, taking the total headcount to 44 staff.

Co-founder and MD Andrew Butt comments:

“In 2017 with DealTrack and Enable iD we hope to pass through the £4m milestone.”

“We are receiving significant interest in our products and services from both UK and USA and are investing heavily in product development to make sure we are providing innovative software to our existing clients as well as attracting more new business.”

“We are also continuing to work closely with University of Warwick and plan to recruit many more graduates this year to help meet current and expected future demand.”

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