Rebate management blog - Page 25 - Enable

Builders merchants — the road to procurement excellence

The Deal EconomyAugust 11, 2016

Builders merchants, building materials companies and building trade suppliers are working in a competitive industry in which profitability is heavily reliant on procurement to strike the right deals. We’ve recently been working with Richard Piekar, a global procurement expert, and wanted to share with you his experience of developing procurement excellence at CRH plc. CRH is a leading global building materials group employing over 89,000 people at around 3,900 locations worldwide. Richard’s jour...Continue reading

How to manage complex vendor rebates and drive margin

The Deal EconomyJuly 29, 2016

Multiple vendor rebates which are very often complex in nature can have a significant impact on the effectiveness of financial and procurement teams, profit margins and company performance. Dealtrack's rebate accounting experts held a webinar to discuss ways to 'Manage complex vendor rebates deals and drive margin'. In this webinar we hear from Richard Piekar — a seasoned global procurement professional who has spent many years working for enterprises in the Building Materials sector. Rebates...Continue reading

How to reduce revenue leakage with better rebate management

The Deal EconomyJune 23, 2016

It's all too easy for revenues to simply leak away if rebates are not managed and accounted for correctly. Several companies have made the headlines in recent years and IFRS 15 looks set to put rebate accounting firmly in the spotlight. The necessity for businesses to have an effective rebate management system in place to deal with complex trading agreements has become more apparent. We’ve seen that complex trading agreements such as supplier rebates often involve incredibly complicated perform...Continue reading

Maximising vendor rebates through supplier consolidation

The Deal EconomyJune 15, 2016

The challenge for many companies who manage rebates not only with hundreds of suppliers but also multiple divisions of single suppliers is being able to see the complete picture when negotiating vendor rebates. So let’s describe a vendor rebate scenario: A leading building materials distributor deals with a large group company, which has a flooring division, a concrete products division, an aggregates division, etc. With each division there could be several rebate deals, different terms and reba...Continue reading

Year end revenue recognition — rebate accruals

The Deal EconomyJune 9, 2016

How was your last year end? We’re not referring to the actual outcome, but the PROCESS of getting your year-end figures together. If you’re in the fortunate position of being able to match each supplier invoice to an order at the right price, then perhaps your year-end is simply a question of dealing with a volume of transactions? But for those in the building supplies sector, those working in buying groups, and many wholesale distribution companies, revenue recognition is hampered by supplier...Continue reading

Rebate accounting — Three ways to improve efficiency

The Deal EconomyMay 31, 2016

It's a complex task managing multiple vendor rebate deals across multiple vendors, multiple product lines, and in some cases multiple units of measure. 2 for 1, multi-pack discounts, retrospective discounts, limited lifetime promotions, not to mention awards points and prizes make rebate accounting a very complex job. By way of illustration, we have worked on one rebate example where there were 300 deals written into 1 vendor contract. Without the right tools and information rebate accountants...Continue reading

Aligning finance and procurement to drive better vendor rebate deals

The Deal EconomyMay 19, 2016

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 working alongside each other instead of together works for some companies, it isn’t the most efficient and effective way to handle business operations especially when vendor r...Continue reading

Supplier rebates — Financial compliance — lessons to be learnt

The Deal EconomyMay 15, 2016

The report that Tesco is returning to profit is good news for the beleaguered retailer, who have been hit with fierce competition from discounters Aldi and Lidl and the fall out of the supplier income scandal, which according to a recent article in the Sunday Times is still being investigated by the serious fraud office. The supplier income scandal still hangs like a black cloud over Britain’s largest supermarket retailer, and for organisations that benefit from supplier or vendor rebates the...Continue reading

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