Accessing supplier rebate programmes is a fantastic way to drive revenue and improve profit margins. However, rebate management is inherently complex and you need powerful rebate management software to do it successfully.
Rebate management solutions help you track and calculate rebates and support the management of your rebate programmes at every level – and the best rebate management software will even automate key tasks and provide you with the visibility you need to make the most proactive decisions that drive business growth.
Getting the most out of rebate management solutions means selecting the best rebate management software in the first place. Here’s what to look for when considering your options so you can maximise your rebate revenue and improve your margins.
REAL-TIME TRACKING AND CALCULATIONS
The best rebate management software today comes with real-time deal tracking and calculation engines. In order to make the most profitable decisions on purchase volumes, your team needs to know when rebate thresholds are approaching so you don’t miss out on opportunities for increased rebate revenue. Your rebate management solution should automatically keep track of all rebate deals you have negotiated and a real-time calculation engine should process your data against those agreements in real time - giving you immediate results that you can act upon.
AUTOMATED WORKFLOWS, ALERTS AND NOTIFICATIONS
Your rebate management software should also make it impossible to miss an action that may have a business impact. Top rebate management solutions come with configurable workflow engines, which allow organisations to ensure that all agreements – and any changes to those agreements that occur – are audited, processed and approved by appropriate parties consistently and efficiently.
The best rebate management software will even send automated alerts and notifications whenever actions are required, ensuring key tasks, decisions and approvals are actioned on a timely basis. You should also look for a platform that has an escalation process that will eliminate the risk of actions being missed due to holidays, sickness or oversight.
Forecasting and Deal Modelling
Your rebate management solution should also feature deal modelling tools that you can use to draft new deals and evaluate how they will likely perform. Using such features, you can feed figures from the previous year into the engine and adjust data dimensions to provide a forecast of what would happen should the underlying conditions of a deal be changed. This empowers you with a future vision so you can understand the impact of any new deals you are negotiating before you agree to them commercially.
Audit Logs and Automated Accruals Recording
It is of course essential that you always have full access to up-to-date information on all of your rebate agreements and can report precisely the value of all rebate accruals for auditory compliance purposes. With the best rebate management software at the helm, this all becomes a matter of simplicity. Full audit logs can be created for every action undertaken in the system. These should be accessible internally and for external audit purposes to demonstrate compliance.
Access the Best Rebate Management Software with e-bate – The Ultimate Rebate Management Solution
If you’re currently on the lookout for the best rebate management software, you need to find a solution that will automatically track, calculate and recalculate your agreements, automate your workflows, enable accurate forecasting and deal modelling and automate accruals recording to provide a complete audit trail.
You’ve just found the solution that you’ve been looking for.
e-bate’s intuitive rebate management system comes with a built-in calculation engine allowing you to track and analyse your agreements in real-time, while our robust deal modelling features allow you to make rapid assessments of the benefits of any deals you are negotiating. In fact, our platform automates every element of the rebate process, eliminating spreadsheet reliance, reducing overheads and helping companies manage pricing and increase revenues and profits while ensuring compliance through a full audit trail and comprehensive approval workflows.