Whether you are supplying construction materials or purchasing them for your project, rebates form a huge part of deals in the construction industry, so it’s important they’re managed properly.
And if you have a variety of different suppliers and products, as well as a number of different rebate types, the tasks surrounding your rebates stack up.
There are a variety of ways to tackle this issue, whether you stack excel sheets, use a basic rebate management system, or even go classic and write them down and use a calculator.
Either way, there are better ways to manage your rebates.
In the following blog, we will show you a few ways that automating your rebate process can provide vast improvements.
1. Supplier & Customer Rebates
The great thing about rebates is that they lead to a win-win situation; both suppliers and customers win!
This win-win scenario exists because a rebate can incentivise purchasing, and the customer gets rewarded by receiving money back. Therefore, rebates are something worth the time to perfect.
Additionally, by meeting goals set out in the rebate agreement, customers maximise their rebates.
2. Real-Time Metrics
Maximising rebates is an effective way to ensure profitability and the lowest possible cost of goods acquisition.
That being said, in order to monitor if you are maximising potential, you need metrics!
Luckily, e-bate comes packed with metrics that update in real-time on a live dashboard.
This ability to track real-time metrics allows you to make decisions quickly and accurately, as well as monitoring the success of current rebate deals. The dashboards can be accessed by other teams too, meaning your rebate process is totally transparent, helping with internal relationships and communications.
All in all, having more information in real-time, allows you to make better decisions.
3. Multiple Conditions
Although for some deals, one flat rebate works, other deals require more intricate offerings.
For instance, 2% on all wood, and an extra 0.5% when making an order over a certain quantity.
These types of deals are nothing new, but can be awkward when manually calculating.
With e-bate however, the calculation engine can process multiple conditional statements and rules.
This ability to calculate multiple conditions and rules within your extensive deals means you can make your rebate deals as layered as you want with minimal headache.
Adding rules is as simple as clicking a few buttons, which allows you to spend more time on your business rather than worrying about how conditions of a deal are calculated and/or interpreted.
4. Digital Secure Contracts
When you negotiate a deal, it is always a good idea to get it signed and legally secured.
That being said, you will never miss a deal with the ability to quickly and accurately generate legally binding contracts through e-bate.
In addition, using e-bate your contracts are fully customisable, allowing your branding to shine through.
Additionally, e-bate contracts are authenticated with name, date, IP, and other data to ensure a legally safe document.
This ability to generate and execute legal documentation allows you to either send the document for e-signing, or the ability to print them out as a traditional paper contract.
5. Get It Done
Among the other features included in e-bate, this one ensures that payments get signed off and handled promptly.
e-bate can give alerts when any action/s is required, allowing you to quickly and easily handle requests.
Similarly, an escalation process can allow you to easily chase up when an action is missed.
Overall, this ability to check and act on alerts directly within the e-bate management software triggers prompt action-taking as per the requirements and allows you to either pay or receive rebates easily.
As they say, a rolling stone gathers no moss!
There are some reasons why rebates, and e-bate, are useful in the context of the construction industry; from being able to accurately and automatically generate contracts to accurate up-to-date metrics.
e-bate will help to speed up your rebate management processes, and save you headaches in the process.
For more information, get in touch today.