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How to achieve a single version of the truth with rebate management software | Enable
The classic Excel spreadsheet is one of the most common ways of managing rebate data. Everyone knows they come with risks due to being revised, updated and interpreted differently by each colleague who receives a copy along the way, but in the end, they do not give you a single version of the truth to make important decisions off. In fact, it is said that almost 9 out of 10 spreadsheets (88%) contain errors which can lead to disputes with trading partners and missed rebate claims, leading to...
How to approach a legacy system change in your business | Enable
Software and systems are essential part of modern-day businesses, they support and facilitate processes whilst helping your business to stay competitive and even help your teams to achieve more of their potential. Some systems even save a lot of time and money by accomplishing different tasks in minutes. But one thing in particular that can hold companies back from modernizing is the amount they have already invested in legacy systems. This system may still meet the needs it was originally...
How strong rebate management can boost your commercial team’s success | Enable
Rebate deals are a big part of every trading relationship—if your commercial team haven’t got a good handle on them, you could be missing out on massive opportunities. Rebate deals hold a lot of power in trading relationships. Suppliers can use them to influence the behavior of their trading partners, and distributors can use them to inform their purchasing decisions. Plus, they’re a valuable source of revenue for both parties involved and can make a big impact on the bottom line meaning more...
How rebate management software maximizes ROI | Enable
Return on investment, better known as ROI, is a key performance indicator (KPI) that’s often used by businesses to determine profitability of an expenditure. It’s exceptionally useful for measuring success over time and knowing if you’re getting your money’s worth. Software implementation requires initial upfront costs. However, once the system is successfully deployed, it helps you obtain cost-saving benefits within a short period of time. To make purchases more appealing to stakeholders...
How to Manage B2B Customer Rebates - A Guide for Vendors | Enable
Well-managed customer rebate programs are extremely valuable. They can help your business win the loyalty of distributors and buying groups, while driving mutual, strategic growth. Whether you’re new to the world of B2B customer rebates, or you’re an old hand looking to maximize the value of multiple customer rebate programs—you’re in the right place. Use the links below to leap to the topic you’re most interested in. What are B2B customer rebates? Why are these trade agreements so popular...
How to improve cash flow with a rebate management system | Enable
Cash flow refers to the amount of cash coming in and flowing out of a business. Having a positive cash flow means that more money is coming into the business than going out. Without positive cash flow, you won’t have the capital available to make purchases and keep your business running - even if you’re profitable on paper. The recent global pandemic has made it incredibly challenging for businesses to maintain their cash flow, especially when wholesalers delayed their payments to their...
How to become an agile procurement team | Enable
Procurement teams operate in a very volatile environment. During the early stages of the pandemic, stakeholders saw real responsiveness from procurement teams: a sense of urgency, business problem solving and far less process demands. Now, the risk for procurement is that stakeholders will want this level of service all the time, not just during a crisis. In order for procurement to be more responsive to changing business needs, they need to become agile – to have the knowledge and ability...
6 Ways Manufacturers can Boost Financial Performance | Enable
In an ever-evolving industry, today’s manufacturers have faced major disruption from both Brexit and the pandemic, along with increasing pressures to maintain their position in a competitive marketplace. In many cases, manufacturers have struggled to modernize their approach to keep up with emerging technologies and successfully increase profit margins. We know that learning how to improve financial performance in a manufacturing business can be the difference between a struggling operation...
How disparate systems can impact your rebate management | Enable
Organizations who manage rebates often have their data in several systems, across multiple teams and departments. They try their best to make informed decisions, but they are using outdated data that comes in different formats and often without context. In the end it can become out of control and too much time is spent on non-value-added activities, too much resource-burn, and not nearly enough reliable data. Many organizations in all types of industries face similar challenges to rebate...
The five Rs of rebate management software | Enable
The end of the year is in sight and it’s time to think about ending well and starting a fresh new chapter. To end on a high as a company, it is necessary to be thinking about what rebate management software could add to your organization. Is your current way of managing rebates working? Or could there be areas of improvement? Perhaps, you’re even thinking of changing systems? Whatever your current situation here are five R’s that make rebate management software so enticing. Receive rebate...
Why data visibility is critical for better rebate management | Enable
At Enable we speak to a wide range of distributors challenged with managing the complexity of their rebates. A common theme running through these conversations is the desire they have to improve visibility and transparency of information. After all, data visibility doesn’t just affect one part of the business – it has the power to impact or improve every single process and department. Business inefficiencies are costly if your team wastes time searching for data that is siloed in disparate...
7 Common Problems with Accounting for Rebates | Enable
As experts in rebate management, we have come across (and have helped to fix) many problems with rebate management spanning commercial, financial and operational processes. In this article we focus on the financial side where most issues revolve around accuracy, predictability and auditability. These are usually among the key drivers of our customers' business cases in defining their requirements and selecting Enable to manage their rebates. In our experience, when our customers get these... Navigate seven common obstacles for rebate accounting and learn to avoid the associated pitfalls.