The Consumer Packaged Goods (CPG) industry is highly competitive, where efficiency and precision can make or break a business. In this fast-paced industry, technology has emerged as the secret weapon that helps businesses streamline operations, reduce manual efforts, and boost customer satisfaction.
While there have been major advancements in certain areas, there are a lot of areas where not much improvements have been made. In this blog, we will discuss why CPG software is important, how they streamline business processes, and certain areas where automation has not been utilized to date.
CPG software has completely changed several key sectors in the industry, including supply chain, production processes, and trade promotion. With advanced management tools, companies are now able to operate with real-time visibility and improve efficiency across their operations.
For example, think about inventory management. Companies using cloud-based management software no longer worry about manual tracking of stock or potential delays in the production line. Everything is automated, from consumer preferences and demand forecasting to ensuring the right products are always in stock. That’s huge in an industry where every second counts.
Similarly, trade promotions, a core strategy for CPG companies, have benefited immensely from automation. Software designed to track promotional effectiveness not only streamlines execution but also minimizes errors and ensures accurate financial tracking.
While trade promotions and supply chain processes have seen significant improvements, the deduction management process is often left behind, bogged down by manual workflows. Managing deductions from major retailers like Amazon or Walmart can be overwhelming for CPG companies. Deductions pile up fast, and without a streamlined system, businesses face:
Revenue loss due to missed or delayed disputes.
Time-consuming manual efforts as teams handle paperwork.
That's why upgrading to deduction management software isn’t just a "nice-to-have" anymore—it's essential.
An efficient AR automation software should do more than just automate a few tasks. Here are the key features to look out for:
Automation of Deduction Process: The ability to automate capturing, categorizing, and resolving deductions can drastically reduce manual work.
Real-Time Visibility: Having real-time insights into the status of deductions helps teams prioritize disputes and manage their time better.
Support Multiple Retailer Platforms: You might be working with multiple trade partners and so its important for the software to support them all.
Advanced-Data Analytics: The ability to pull up advanced data reports and analyze trends, allowing CPG companies to pinpoint recurring issues and prevent future deductions.
Cost Savings and Efficiency: By automating the deduction process, companies can save up to 80-90% in costs and free up time to focus on more strategic tasks, leading to improved cash flow and faster resolution.
When it comes to cost savings and efficiency, iNymbus stands out. Here’s why it’s the best fit for CPG companies of all sizes:
Massive Cost Savings: iNymbus cuts deduction processing costs by up to 90%. By automating labor-intensive tasks, companies no longer need large teams to manually file disputes.
Faster Processing: No more delays or backlogs. iNymbus processes deductions and files disputes up to 30 times faster than manual processes, ensuring faster and error free disputes.
Custom Retailer Support: Need to integrate with a specific retailer? iNymbus can add support for new retailers in just weeks, ensuring your business can scale with ease.
One of our clients, a CPG company, faced a daunting two-year deduction backlog. They had multiple employees dedicated to manual dispute filing, and deductions were piling up. Within weeks onboarding was completed, and eventually, they cleared their entire backlog, freeing up employees to focus on more strategic tasks. Now, they process deductions in real-time and never face delays.
For details on how iNymbus was able to tackle this challenge, download the case study.👇
As the CPG industry continues to evolve, the need for advanced, cloud-based solutions is clear. Automating deduction management is a key step in reducing manual efforts, improving efficiency, and driving cost savings. Solutions like iNymbus are specifically designed to tackle these challenges head-on, ensuring CPG companies stay competitive and financially strong.
If your deduction backlog is weighing you down, or if you’re looking for a smarter, more efficient way to manage disputes, it’s time to explore iNymbus and how it can transform your deduction management process.