Challenges with Traditional Approaches to Rebates and Promotion Management:
In today’s fiercely competitive environment, the effective and timely management of rebate and promotion programs is critical. Designing and optimizing these programs is essential for several industries—from rebate management in drug manufacturing to holiday promotions for major retailers.
Managing these rebates and promotion programs, from initial contracting between partners all the way through to settlement, can create several challenges such as:
- Poor visibility across all rebates and promotional agreements with each partner, leading to missed opportunities for better-negotiated pricing
- Inability to effectively measure and analyze the rebates and promotion program performance
- Wasted staff time on manual tracking, management, and measurement
- Inability to track and manage complicated formulae and accrual calculations
- Lost revenue and reduced margins due to poor tracking and underutilized promotional budgets.
- Longer cycle times required to design and execute rebates and promotion programs using manual processes and disconnected systems.