Managing rebates can be a real pain point for companies with multiple rebate agreements in place. Nonetheless, it is absolutely imperative that rebates are managed accurately as the income received can often be the difference between profit and loss.
Today, the only way to manage supplier rebates successfully is with powerful and feature-rich rebate management software to help you track and calculate rebates automatically and in real-time.
Supplier Agreements
A supplier rebate programme is a fantastic way for businesses to maximise on their profit margins. Simply setting up a rebate with a supplier is the easy part, and the difficulty comes when you’ve got multiple agreements in place with multiple suppliers – all with differing terms and conditions. Now you’re tasked with tracking every single agreement – and every transaction – and also manually calculating your transactions to determine the rebate earnings you’re owed and from whom.
Traditionally, organisations have either relied upon spreadsheets to manage their rebate claims or left it up to their suppliers to tell them what is owed. Neither is optimal for managing complex rebate agreements. Spreadsheets are notoriously prone to errors, and relying upon them leaves organisations open to expensive mistakes, omissions and lost data – risks that are heightened when trading agreements are made by large buying groups where each individual member needs access to timely, relevant data.
Using Rebate Management Software to Manage Vendor Rebate Programmes
The only reliable and accurate way to manage multiple rebate programmes, access the best rebate deals, and secure the best rebate rates from your suppliers is with a rebate management software solution.
With an effective rebate management solution in place you can streamline your whole rebate process from beginning to end, ensuring opportunities are never missed, rebate calculations are accurate and you’re always claiming the correct amount due from your suppliers. Today’s most powerful solutions provide numerous tools and features that enable these outcomes.
The first is a real-time rebate calculation engine. Rebate management software automates the tracking of purchases against agreements in real time and automatically calculates what is owed – no more relying on cumbersome spreadsheets to produce forecasts or work out where rebate earnings are coming from.
A good rebate management solution will also send your team members automated notifications to alert them when rebate thresholds are approaching – ensuring that opportunities to access increased rebate revenue aren’t missed – and when approvals are required to authorise key actions.
In addition, a rebate management system will record all information relevant to all rebate agreements, providing transparent audit trails that minimise – if not completely eliminate – the time and costs involved in compiling evidence for rebate claims.
Scenario planning is also facilitated with rebate management software. Using purpose-built deal modelling features, a “What if” analysis can be conducted on specific agreements to help you understand the potential impact of any changes that are made to various rebate conditions, including changing supplier.
Optimise Your Supplier Rebate Management System with e-bate – The Ultimate Rebate Management Solution
Utilising rebate management software for managing supplier rebates has numerous benefits, including improved cash flow due to more accurate rebate claims, optimised margins due to more accurate rebate calculations and greater productivity and efficiency due to automation.
e-bate is an intuitive rebate management software solution to help you manage complex rebates with ultimate ease. Our powerful rebate calculation engine allows you to track and analyse all your rebate agreements in real-time, while our robust deal modelling features allow you to assess and fully understand the impact of your trade agreements before agreeing them commercially.
The e-bate platform automates every element of the rebate process, eliminating spreadsheet reliance, reducing overheads and helping you ensure compliance through full audit trails and comprehensive approval workflows. Customer success is our number one mission. e-bate is your single source of all rebate information, providing you with the insights you need to make proactive decisions that drive business value.
Request a demo or get in touch today to find out more about how e-bate can streamline the management of your supplier agreements.
