Sep 29, 2023

Why you should be prioritising rebate management in the Boardroom


When is the last time you covered rebate management in the boardroom?

Rebates should be providing benefits to buyers and suppliers alike; a company purchasing goods wants to be rewarded for their loyalty and the business selling those goods wants repeat sales, so rebates do their amazing thing and reward everyone. Simple! Right?

In theory, yes. Globally, more than £100billion in rebates are transacted, making business to business rebate incentives extremely popular throughout the supply chain and in virtually any industry. However, companies that agree rebate deals and process their own claims and payments need to be aware of an unignorable truth about B2B rebates: inaccurate processing is costing businesses around £8 billion a year in lost revenue.

Using manual tools such as spreadsheets or non-specialist rebate management software, businesses with as little as a 1% error rate in their rebate calculations could experience huge financial losses. The unignorable truth is that yes, rebates are a brilliant way to do business, to strengthen relationships and improve your margins, but when you don’t have a transparent and auditable process with a single source of truth, you could be in trouble down the line. So, that discussion point on rebate management improvements needs to be bumped up the boardroom agenda asap.


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