Getting quick access to all the data for your
current deals is easy with rebate management software. It is no longer necessary for people to extract data from spreadsheets or files on someone’s desktop when using these tools. As a result, you have access to the rebate data you need, without having to rely on updates from colleagues. It saves you time, improves decision-making, identifies risks, and improves collaboration. To manage rebates effectively, data visibility is crucial.
How does data management present challenges and risks?
B2B rebate management challenges include, but are not limited to:
- Lack of visibility and access to accurate rebate data,
- Having difficulty understanding rebate deals and predicting rebate earnings and payments, potentially resulting in significant financial reporting issues;
- Disagreements and poor relationships between partners.
A long-term goal should be your primary goal when it comes to maximizing the value of your data.
What is the importance of data accuracy in rebate management?
Data tracking, measurement, analysis, and reporting require a consistent, coherent, and usable data set. It is challenging to manage rebates without rebate management software. As a matter of fact, it’s nearly impossible. It changes everything when suppliers and manufacturers share information in one system.
Transparency suddenly becomes a reality for your deals. Having all your deal information consolidated across multiple departments and locations will enable you to make informed decisions by having access to the latest data, as well as ensure a full audit trail.
Having the right digital tools can unlock more strategic business value
Fortunately, the right rebate management software can solve many of these challenges. It’s true: Digital acceleration requires a new, structured approach. Sadly, it’s not enough to mandate tools – they have to be used.
Maybe it’s time to get some help if you aren’t already using a tool to derive insights from all deal management scenarios? Find out more: Schedule a demo with IMA360!
Let IMA360 improve your processes to increase your revenue and optimize profits across your enterprise. Call today to schedule a demo.
