How to choose a contract management system

Posted by Andrew Butt on 18-Jun-2018 10:27:34

The decision to choose a contract management system is often driven by a need to model complex purchasing agreements that cannot be met using spreadsheets or existing ERP systems.

The first decision to make is about the type of contract management system that you need.

Do you operate in an environment where complex discounts and rebates are prevalent?  If the answer is “yes” then you may actually need a Rebate Management System.

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Topics: Rebate Management, Contract Management

7 common problems with accounting for rebates

Posted by Andrew Butt on 15-Jun-2018 14:23:00

As experts in rebate management, we have come across (and fixed) many problems with rebate management processes.  Here are the 7 most common things that businesses need to fix in order to improve profitability and growth.

1. Problems capturing rebate agreements in core business systems

Companies tend to look for a specialist solution to rebate management when they reach a point where their core business systems are proven to be inadequate.  We have seen several scenarios:

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Topics: Rebate Management, IFRS 15

5 ways to improve your rebate management system

Posted by Andrew Butt on 13-Jun-2018 11:31:15

Due to the intricacies of most supplier trade agreements, rebate accounting is a notoriously complex operation. Many organisations still manage their rebates with spreadsheets or rely on their suppliers to make the calculations, despite this leaving them at high risk of errors and omissions that could lack audit compliance and lead to significant revenue loss.

To improve upon your current rebate management system, it’s necessary to take full control of the rebate process and the difficulties that arise from trade agreements.

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Topics: Rebate Management

Take control of your rebate debtors

Posted by Andrew Butt on 23-May-2018 09:15:00

In our experience, many businesses that receive rebate revenue from suppliers, don't have the means to be able to check that it is correct. 

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Topics: Rebate Management, Rebate Accounting, Rebate Management System

How rebate management systems drive profit

Posted by Andrew Butt on 04-Apr-2018 08:00:00

If you manage procurement contracts with complex supplier rebates, then you may have reached the point where your current contract management system or ERP system doesn’t provide the functionality you need.  That’s where a rebate management system comes in.

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Topics: Rebate Management, Client Stories, Rebate Management & Growth, Rebate Management System

Using DealTrack “out of the box” and Enable expertise to solve rebate problems fast

Posted by Andrew Butt on 27-Mar-2018 11:20:32

Background

This building supplies company has over 50 branches and is growing.  They recognised that having smooth business processes would be an essential foundation for their growth plans, and whilst most parts of the business had been systemised, the area of rebate management remained an anomaly.

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Topics: Rebate Management, Client Stories, Industry Sector: Building Materials, ERP Vendor Rebate Modules

Buying group purchasing system - 7 essential features

Posted by Andrew Butt on 27-Feb-2018 09:16:00

Buying Groups, as the name suggests, are formed to give buying power to smaller independent companies through purchase consolidation.

Whilst buying groups don’t typically have control over the systems implemented by members, they do need information from members in order to negotiate the best possible deals on their behalf.

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Topics: Rebate Management, Industry Sector: Buying Groups

Best practice rebate management

Posted by Andrew Butt on 26-Feb-2018 10:36:00

Rebate Management refers to the management of discount claims that are based on volumes of purchases over time.

To some companies, that rebate is treated as a bonus. But to others, rebates form a significant proportion of their revenue and for these companies accurate management is absolutely essential.

The management and processing of rebates is challenging, with significant financial risks if something goes wrong due to loss of data or human error.

Many rebate arrangements lack support in financial accounting systems, such as targeted incentives and multistrand rebates. Keeping a track of rebates when purchasing is decentralised or where the trading agreement is made by a buying group creates further challenges.

So what can purchasers do about these challenges in order to maintain an effective management process?

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Topics: Rebate Management

Spring 2018 webinar series: Profitable growth from rebate management

Posted by Andrew Butt on 14-Feb-2018 11:34:06

For spring / early summer we have a series of three webinars planned to share more detail about our 3 step approach to profitable growth through:

  1. mastering rebate accounting and maximising profit from rebate deals,

  2. being prepared for and executing on smarter supplier negotiations,

  3. collaborating with suppliers for mutually profitable growth.

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Topics: Rebate Management, Procurement Excellence, Rebate Management & Compliance, Rebate Accounting, Industry Sector: Building Materials, Industry Sector: Wholesale Distribution, Rebate Management & Growth, Industry Sector: Retail, Industry Sector: Buying Groups, Rebate Management System

Managing complex trading agreements — 7 keys to success

Posted by David Hunt on 25-Jan-2018 11:07:00

With increasing global competition, ever-more complex trading agreements are being created.

Effective management and control of complex trading agreements that include supplier rebates is notoriously difficult. Most standard accounting and purchasing software packages will not cope with the variety and complexity of pricing strategies and rebate agreements.

But a solution that is disjointed or based on spreadsheets introduces the possibility of missing data, human error and inaccurate reporting.

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Topics: Rebate Management