As data becomes increasingly valuable and critical to business continuity, manual processes, traditional systems and outdated enterprise resource planning (ERP) solutions cannot keep up.
The future is now, and it's in the cloud.
Cloud computing offers a compelling solution for redefining business functions like rebate management and future-proofing your company’s operations while also ensuring regulatory compliance. Today, more and more organizations are moving their IT infrastructure to the cloud. The COVID-19 pandemic has further accelerated this trend. According to Statista, “Cloud computing generated $400 billion in revenue for 2021 with projections at $482 billion this year.” A ~20% jump!
Cloud-based platforms are here to stay.
Cloud platforms have become an integral part of the modern B2B enterprise and will remain for many years. That’s why cautious leaders should reconsider their stance on this innovative technology. Network connection dependency shouldn’t hold you back anymore; with remote access on hand 24/7, there’re no downtimes or security breaches either (unless someone hacks into your system). The only drawback might come from trying new things during gradual transitions where mistakes happen, but don’t let them discourage you.
Here’s how a cloud-based rebate management platform helps B2B enterprises improve data visibility, security and agility.
Cloud provides a cost-effective, scalable and secure platform to store rebate data
A cloud platform allows enterprises to migrate their data and processes to a more secure location, unlike an in-house server. While it might seem daunting and risky, cloud service providers (CSPs) are adept at ensuring adherence to various security details such as encryption, authentication, and permissions that help safeguard data.
The “glue” that holds data and platforms together will be the cloud, allowing B2B leaders to use it as a disruptive force for change.
Cloud is a sustainable long-term solution for businesses aiming to minimize their carbon footprint
Gartner predicts that spending on cloud-based solutions will grow to almost $ 1.8 trillion in 2025. Besides being a cost-effective option, cloud computing is a sustainable long-term solution for businesses aiming to minimize their carbon footprint. According to a report by Accenture, cloud migration can reduce carbon dioxide emissions by 59 million tons per year.
Cloud boosts transparency, collaboration and accessibility
Compared to spreadsheets and siloed tools, a cloud platform enhances operational efficiency by streamlining the business processes, integrating access to various tools and applications, and enabling scale and speed of operations. Further, as remote users grow, businesses must become more agile and accessible. Cloud-based servers, thankfully, make mobility easier by giving access to real-time data from any location. As a result, users can view and share real-time information in and across their networks.
Cloud offers data redundancy
As a best practice, businesses need to have critical data periodically backed up and stored on local network servers. Cloud providers offer redundancy that minimizes data loss due to accidental deletions or unforeseen circumstances by backing up essential data off-site. Several cloud-based solutions offer built-in analytics that provides detailed, real-time insights and support data analysis. In addition, technical maintenance and support issues are minimal, with service providers offering reliable, hands-on expert support through the most widely available channels.
Reimagine B2B rebate management with cloud computing
Rebate programs are designed to provide incentives to buyers to secure long-term loyalty. The underlying premise here is a tradeoff of profit margin for higher customer volumes. Therefore, buying groups or distributors often integrate and interlink their enterprise rebate data in ERPs, CRMs and locally stored excel sheets. Though it helps maximize market share and minimize margin loss, rebate management becomes too complex to handle as data grows.
Automated, cloud platforms are critical to driving successful rebate programs
The benefits of automated rebate management software are immense. It helps minimize error rates and boost ROI with an agile cloud architecture that facilitates accessing large files without delays or problems, especially when compared to traditional data storage methods. Further,
- It improves enterprise-wide data accessibility and visibility by providing a single pane view of data points
- You can build portable AI/ML pipelines and run them on the cloud to predict, course-correct, and assess the performance of rebate programs in real-time
Cloud enables real-time synchronization
A centralized cloud-based software/platform enables synchronization in real-time across buying groups, manufacturers and retailers, making data tracking easier. In addition, it provides:
- Bird’s eye view of overall rebate performance health
- Granular and actionable insights, when combined with AI tools and services
- Real-time updates to expedite collaboration and lower the latency
A cloud-based platform not only helps with various challenges of B2B rebate management but also offers a sustainable way to improve the consistency and accuracy of data. For example, an online rebate platform can open the path for transparency, ensuring that your company’s reputation and rebate accrual values are maintained.
How does a cloud-based rebate management platform, such as Rebate.ai, help users?
The cloud-hosted rebate management software offers a hassle-free experience for businesses. It doesn’t compromise the existing infrastructure and ensures automatic updates and maintenance. Further, it
- Facilitates a faster and improved workflow
- Leads to exponential business growth and increased productivity
Allows users to limit access at the individual level, thus, safeguarding their data
The path ahead: Envision your enterprise future with a cloud-based rebate management platform
A cloud-based rebate management software, such as Rebate.ai, helps you get on the fast track to a more rewarding enterprise future. Imagine all of your buying groups, manufacturers and distributors tracking their rebates seamlessly – with one click! A seamless experience means no more manual entries or chasing down data scattered across different systems – everything is at everyone’s fingertips, so they are never lost in translation again (literally).
In addition, a cloud-based software/platform saves time which translates into money saved every month because now your resources aren’t being hashed out trying to figure things.
Interested in learning how Rebate.ai can turn rebate management into an exciting pursuit of revenue growth? Talk to our experts today and see how you can achieve higher profitability, improve rebate planning and enhance the financial control of rebates.