The problem with deduction management varies from one supplier to another. One might face trouble with the high volume of deductions from one retailer, while for some, the volume wouldn't be an issue, but managing deductions from multiple retailers would be the challenge.
One such case is of our client for whom the biggest challenge was to manage deductions from over 20 retailers. We believe there are many more such suppliers out there for whom volume might not be that big of a challenge but managing deductions from multiple smaller retailers is what gives them a tough time.
Lowe's stands out as one such retailer. In this article, we delve into Lowe's deductions, shedding light on Lowe's Deduction Codes. We'll also discuss navigating their portal and explore the feasibility of automating the entire process.
1) Log In Into New Lowes Portal:
To dispute Lowes deuductions, go to new Lowes portal and log in.
2) Finding Invoices With Deductions on Lowes Portal:
After logging in, head to Vendor Inquiry where you will find invoices with deductions.
3) Start The Process Of Disputing:
Once you find the deduction you want to dispute, select it and fill in the required information like amount, reason for dispute, and a brief explanation of why you think this deduction is invalid.
4) Attach Proof of Documentation:
Based on the type of deduction, you now have to attach documents as proof. For example, if it is a shortage deduction, attach documents from shippers like the Bill Of Lading (BOL) and Proof Of Delivery (POD). Similarly, if it is a pricing deduction, attach the Purchase Order and Invoice.
These steps have to be repeated each time you want to dispute a deduction. This process is slow and tedious requiring you to manually download the documents from various sources and upload them to Lowes Portal.
With our RPA technology, disputing deductions is now easier than ever. iNymbus automates the process from end-to-end and by doing so it makes the process faster by up to 30X that too without manual intervention.
Let's dive deep into how we can automate the process for you:
1 ) Identifying Claims:
Our smart software can automatically identify newly generated claims, removing the need for manual search.
2) Determining Claim Validity:
Once a claim is identified, based on the SOP specifically designed for you, the software is able to categorize and tell if the claim is valid or not.
3) Initiating Auto Dispute:
Now comes the heavy lifting, our software can auto-fetch the documents from various sources like EDI and ERP. Once all the required documents are ready iNymbus can file a dispute on the retailer's portal on your behalf without manual intervention making the process faster and efficient.
With iNymbus, our clients have achieved remarkable improvements in deduction management. They've cleared backlogs, reduced the team managing deductions, and identified the origins of deductions more efficiently.
See how this Large Distributor cleared a backlog of deduction of 2 years within a few weeks with iNymbus.
Here are the KPIs where our clients have seen major improvements:
Cost: Reduce costs by up to 80-90%.
Efficiency: Increase speed and efficiency by up to 30X.
Capturing Deductions: Maximizing returns by capturing 100% of claims.
If those results interest you, schedule a quick discovery call, and let's discuss how we can achieve those results for your business.