Negotiating deals for buying groups and businesses that have grown though acquisition or merger is a challenge.
The starting point is usually to review purchase history and that means consolidating information from multiple systems.
To further complicate things, the true value of historical transactions can be hard to calculate for those businesses where trading agreements involve substantial amounts in rebates or retrospective discounts.
That's where DealTrack comes in.
DealTrack is a rebate management system. But it doesn't JUST manage rebate claims.
In order to carry out the core task of managing rebates, DealTrack was designed to gather information from disparate ERP systems, spreadsheets and other sources. That data is used within DealTrack to provide consolidated views of transaction history together with accurate reporting and forecasting of supplier rebate income.
This information provides a fantastic platform to commence negotiations.
With accurate information on historical transactions, rebate thresholds achieved and true contract values, procurement teams are in an excellent starting position for any trading negotiation.
But DealTrack goes few steps further than that:
Modeling and forecasting deals
DealTrack has functionality to model deals based on historical data and create forecasts for comparison. In this way, procurement teams can effectively perform what-if analysis on the deal parameters in order to calculate the optimal terms on which to start the negotiations.
Workflow enabled trading agreement tracking
Once the deals have been modelled, the user can create a PDF of the trading agreement (within DealTrack) and the software will track approvals through both internal and external parties (suppliers).
The end result is an agreement based on sound facts, that has a proven audit trail.
Other time-saving features
As well as having the obvious time-saving benefits of being able to see transactional data from all systems in one place, DealTrack offers some other great efficiencies for the procurement team:
- You can choose to give your suppliers the ability to maintain product catalogue information themselves through a secure supplier portal - saving you the time and effort of keeping product information up to date in your own systems
- Rebate earnings are automatically calculated and reported on by the system - no more spreadsheet issues and significant time savings
- In built version control over trading agreements can also be seen as a time saver
- Easy to use modeling capability is a huge time saver. This enables the procurement team to instantly review the impact that changing one or more deal parameters would have on a branch, a category or across all sites.
To find out how DealTrack integrates with ANY system and provides a complete solution for negotiating your trading agreements and managing rebate claims, please download our guide "An ERP-agnostic solution to centralised procurement and rebate management".
Discover how DealTrack drives profitable growth through the management of complex trading agreements in a multiple-ERP systems landscape.