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3 Things You Need to Know Before Choosing Rebate Management Software

Thu, Jan 19, 2017

Sophisticated rebate management software excels where the basic accounting in most ERP’s fall short. The software can handle much more complexity with little to no more effort needed.

When you upgrade from spreadsheets to software, it’s like going from swimming against the current to just going with the flow. It’s easier, takes much less effort, and it also makes you more competitive.

Sounds pretty good right? Well before you drop everything and rush out with wallet in hand, there is a few things you should know before choosing rebate management software for your organization.

1.  Know your level of sales and trade promotions maturity

Understanding your level of sales and trade promotions maturity is important. Do you have any management of or control over your trade promotions management? Have you attempted to manage and control your trade promotions but it is a manual process?

By knowing the maturity of your business, you won’t skip ahead of more important tasks that need to be done. Knowing your level of sales and trade promotions maturity can also help identify what functionality you need from rebate management software. 

2.  Know your business inside out

Can you tell how many rebate lines you process every month? What about the payment terms of those rebates? Without this information it’s like buying a round peg and finding out you have a square hole. It’s expensive and the software won’t do what you need it to do.

You need to understand the expectations placed on your business, by customers claiming rebates. For example, if customers send in their claims in spreadsheets, you should be able to transfer that data into the software easily and accurately. As a result, with the right software, you will work faster and smarter when managing your rebates.   

3.  Know the functionality you need

I know this sounds like I’m stating the obvious. However, you should know the functionality you need and be prepared to fight against heavy customization. While some customization will always be necessary, especially in large organizations, try to do as little as possible. Less is more in this case. If you need more functionality than the base product, it’s not the right product for your company.

This will help make future upgrades and maintenance much easier. 

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