Surviving (and Thriving) in an Economic Downturn

Disastrous news headlines, a crashing market, and financial crisis: During a period of economic gloom, how can your business survive, or maybe even grow? If you're in the world of processing retailer and shipper chargebacks and deductions, we've got a solution that will help.

While surviving and thriving during a downturn often includes cutbacks and tough decisions, it should also include improving the use of resources and realigning your practices. With nearly everything moving at a slower pace, a recession is an ideal time to turn attention to cleaning up internal processes and implement business improvements.

According to The Harvard Business Review,

"The best companies do more than survive a downturn. They position themselves to thrive during the subsequent upturn. Begin with aggressive moves to reduce costs and increase efficiency. Although cost-cutting is the first thing most companies think about, their actions are often tentative and conservative. You need to work rapidly to implement measures, using the turbulent economic environment to catalyze action that is long overdue—or to revive earlier initiatives that proved too controversial to fully implement in good times."

You may not be able to do everything given financial constraints, but focusing on key aspects that can help your business run more efficiently will contribute to your future success. Priority should be given to projects or process changes that will save time, resources, and money once the tide turns. One way to do this is to invest in technology to provide automation upgrades that will give your business the advantage.

Zero-Touch Claims Processing

If you want to "thrive" and not just "survive" the economic turn, we invite you to learn how your business can automate manual A/R processes related to retailer deductions and chargebacks, shipping carrier freight claims, and product returns variance reporting and reconciliation. Our specialized robotic process automation service pulls and uploads denied claim documentation to retail vendor or shipping carrier portals, disputing on your behalf.

Benefits also include:

• 30x faster and 1/8th the cost of manual processing
• Quicker and higher recovery rates
• Scalability that adjusts to the size or seasonality of your business
• Automated, no-paper solution, ideal for working in any environment (from home included)
• Reduction of Days Deductions Outstanding (DDO) by disputing claims BEFORE they are deducted 
• Easy setup with minimal IT involvement required
• Happier employees freed from tedious, repetitive work
• And more!

To help you further evaluate the benefits of automating your retailer and shipping carrier chargeback and deduction process, below are some additional detailed resources.