How a rebate management system can save you time and effort
As the saying goes time is money - especially when it comes to rebates! According to a global study commissioned by Automation Anywhere, the average employee loses 60 hours per month to easily automatable tasks. One of these being rebate management, which many businesses approach manually.
Teams are spending an excessive number of days combing through spreadsheets and files trying to find the most up to date information which, in our opinion, isn’t an efficient way to operate a business, wasting time and energy which should be spent elsewhere.
We show you how your rebate management team can benefit from a modern solution that automates all the time-consuming, manual tasks that they used to perform, to improve operational efficiency.
Cloud-based software provides access - anywhere, anytime
Using cloud-based rebate management software is quick and easy once the team is fully trained. In comparison to disparate systems and spreadsheets scattered across people’s desktops which mean that information is inaccessible. All that is involved is a web browser which means that you simply need to sign in and open the application on any computer, saving you and your team copious amounts of time and effort before the deal itself has even begun.
Make faster decisions with accurate data
Data is key in rebate management and if you haven’t got clear visibility, you could be neglecting your bottom line and making all the wrong decisions.
Instead of chasing suppliers and inputting data into a spreadsheet manually, a rebate management system provides you with valuable information you wouldn’t be able to extract if you were performing the tasks manually. What’s more, you can overcome the disruptions caused by human errors, freeing up your time and giving yourself peace of mind.
So not only does automation help you save time and effort, but it also actually helps you collect and analyze data much faster. The more high-quality data you have, the greater the chances of making better decisions that will put you on the path to profitable growth.
Collaboration is about building relationships, minimizing errors, and most importantly, working as productively as possible. Inefficiency can cost your company a lot of money.
In a survey of 400 corporations, it was found that communication barriers cost an estimated $37 billion per year in lost productivity.
Organizations often face obstacles due to the complexity of the deals that cannot be addressed by one person alone. When working with rebates it’s important to collaborate and keep everyone on the same page, so less time and effort is wasted.
Rebate management software assists in this process by bringing together different departments in real time onto one platform, so everyone has visibility into the status of a deal.
Create insightful reports
The finance team can’t afford to spend weeks collating data to generate reports and your IT team can’t regularly provide resource to automate these processes. Instead, any modern rebate management system is fully equipped with financial reporting features that prepares insightful reports about your deals, saving your finance team time and effort especially around month end. Automated reports also enable your finance and commercial teams to analyze the data more quickly and focus on areas that may need attention.
Less time searching for the latest version of a file
How many times have you scrolled through a never-ending email chain, looking for a spreadsheet or contract file, only to discover that this attachment might not be the final version? Some files are updated so many times, you lose track. Now you must waste more time searching to find the latest version.
With rebate management software, you can cut down on back-and-forth emails and multiple versions of documents. Everyone on your rebate team can quickly access the latest document on one platform. Having a place to instantly share these files with everyone on the rebate team not only saves time and effort, but also encourages timely feedback. Changes, status updates, and comments are automatically sent to everyone who needs them.
To summarize Enable helps you save time and effort by:
- Automating your rebate management processes
- Freeing up employees for higher value tasks
- Providing everyone with one version of the truth
- Reducing the risk of potential errors
- Collaborating with your suppliers
- Reporting and forecasting capabilities