In the midst of the holiday season, it's a fond time for many (parties, gifts, sweet treats, oh my!) but for those who work daily to process chargebacks and deductions, the holidays may bring up some contrary emotions. During this seasonal period of increased consumerism, the volume of retailer chargebacks and deductions is extraordinary throughout and immediately following the holidays.
Editor's Note: This blog post was originally posted in 2018 and the frustration with chargebacks and deductions is more relevant as ever. Click here to learn more.
We recently spoke to one of our customers, a Walmart distributor, about this very topic. Prior to their implementation of iNymbus in 2016, our distributor was processing up to 1,500 deductions monthly and literally running a full 2 years behind in their efforts to resolve them.
The volume was so high, they had 3 full-time resources dedicated to working solely on Walmart deductions. Due to other needs driven by the busy season, it was atypical to even look at deductions in the fourth quarter. There simply was not time to get to them, resulting in pushing processing to late February (at the very earliest,) but more likely to the following spring.
Upon stumbling across iNymbus, our distributor was very skeptical of the solution, assuming it would take too much time, money, and/or effort to implement. Automatic processing of deductions they had spent years being burdened with manually, simply sounded too good to be true. In fact it was so unimaginable, it didn't even seem worth exploring. However being it was not unusual for them to invoice Walmart over 5,000 invoices a week (more invoices = more deductions,) something had to be done.
Today, iNymbus can process an entire month's worth of Walmart deductions for our distributor in a couple of days, and it only took 2 weeks to implement. The seasonal stress associated with chargebacks and deductions has melted away, as iNymbus works automatically to keep up with the fourth quarter spike in deduction volume. Our distributor's staff has been freed from the monotony of deduction processing and is now focused on other higher-level tasks. What once was an especially burdensome quarter, is now no different than any other, with deductions being processed virtually on their own.