While we know retailer deductions and shipper claims are a burden for manufacturer, distributor, and supplier A/R departments, but what about other areas of the business? This blog series examines why streamlining chargeback and deduction processing with automation matters to other departments as well. In this post: I.T.
Why Automating Retailer Deductions Matters to I.T.
Your I.T. department may or may not be aware of what a drain processing retailer claims and deductions is to your company, both in manpower hours and from a profitability standpoint. However, understanding this fact in itself isn't always enough of a reason for an I.T. team to prioritize assisting with a solution. Below are a few additional points that are also helpful they understand.
1. Retailer deductions and shipper claims negatively impact company revenue
Yet, they are part of everyday life for suppliers, manufacturers, and distributors. Given the negative affect retailer deductions have on the company's profit margin, finding a solution to process them more efficiently should be a first concern and a company-wide initiative.
2. Implementation is easy
We all know how busy I.T. departments are, but getting started with iNymbus is not a complicated project. It's simply building a bridge and exchanging data, and requires a one-time setup to identify what documents are needed to push data on a regular basis to our cloud-based program. This typically takes a matter of hours from start to finish, and once it's done, it's done.
3. Compliance is a nonissue
Rightfully so, I.T. is often concerned about data breaches. However iNymbus is a SaaS-based company, and follows the same federal laws banks do to protect their data. I.T. can rest assured that their data is and will remain protected and secure.
The bottom line: Investing the little time and effort it takes to implement the iNymbus solution to automate retailer deductions and claims, has been found to reduce processing costs by at least 80% and will have an immense impact on the overall revenue of the company. More on how using technology to process chargebacks and deductions can benefit suppliers, manufacturers, and distributors can be found in our resource guide below!