Still Stuck with Your limitations of a traditional ERP system? Upgrade to a Comprehensive Rebate Management Platform to Improve your Rebate ROI
Is your business still using the traditional Enterprise Resource Planning (ERP) system to manage rebate programs?
Are you missing opportunities because deal management is manual and too cumbersome?
Are you constantly leaving money on the table due to outdated, siloed rebate management processes?
If you’ve answered even one of these questions with a resounding ‘yes’, it’s time to empower yourself with a smart and data-driven rebate management platform.
You must be thinking, “Why do I need an AI-powered rebate management platform and what does it offer over my ERP system?”
The answer is, the rebate landscape has evolved significantly over the last few years. Your teams are continuously designing, tracking, and executing complex rebate agreements, and this is where the capabilities of a legacy ERP system often fall short.
In order to manage rebates productively, you need a purpose-built platform that will ensure transparency internally and with partners, identify areas of improvement in rebate programs, and enable you to respond with agility to changes in market dynamics. Most ERP systems allow you to record rebates, but not much beyond that. Besides making your processes more transparent and streamlined, a rebate management platform offers a host of other benefits over a legacy ERP System.
Benefits of an AI-powered rebate management platform over an ERP system
A rebate management system will give your business an edge over competitors in the following areas:
Cost: An ERP system is expensive to deploy, maintain, and manage. You’ll need to spend on implementation, integration, subscription, and licensing costs. Also, as your business evolves and expands its client base or product offerings, you need to spend more on IT support, hardware, add-on services, and software. On the other hand, a rebate management system is a comprehensive solution catering to all aspects of your rebate programs without any dependency on external tools or software. Also, there are no hidden costs.
Implementation time: Deploying an ERP system is a long process of initiating, configuring, validating, deploying, and optimizing the existing business processes, which demands the presence of rebate accounting experts who can predict and fix potential issues during the process. Despite taking all precautions, 50% of ERP implementations fail the first time around. On the other hand, the implementation time of a rebate management platform is significantly lower. Also, the platform integrates easily with the existing ERP system.
Data migration: Depending on the size of your business, an ERP system may take a considerable amount of time to migrate data from disparate data sources. This process can be even more complex for businesses that use multiple software to manage different aspects of rebate accounting. However, a rebate management platform is cloud-based and can extract data from various sources while providing all stakeholders with a real-time view. Traditional ERP systems lack this feature.
Customization: Though some ERP systems provide customized solutions, they are often expensive and time-consuming. Data security is also a huge concern, as most ERP systems rely on third-party vendors for maintenance, security issue resolution and upgrades. Cloud-based rebate management platforms, however, are user-friendly, customizable, and do not require expert skills to handle operations.
Advanced analytics: Rebate programs are updated regularly based on a host of factors, including meeting sales targets, marketing commitments, seasonal trends, and product performances. Such program alterations increase the complexity of rebate programs and the associated data manipulation. In the case of ERP systems, data processing is often carried out in siloed tools like spreadsheets and then fed into the system. With increasing volumes of data, these tools tend to break or malfunction, hampering the process flow. This issue is common in incentive-based rebate programs or Special Pricing Agreements (SPAs). An AI-powered rebate management system has the intelligence to assess complex rebate programs and provide recommendations to stimulate business growth.
One-stop-shop: Often, businesses that use ERP systems rely on other documentation processes, such as spreadsheets, for rebate accounting. In fact, 92% of current ERP systems require manual intervention for data inputting and sharing, which gives way to errors, impacting the efficiency of your business. However, a rebate management platform handles all functions associated with rebate programs and processes without relying on other external software.
Deal negotiations: Most ERP systems are not designed to play an integral role in negotiating and closing the right deals. An AI-powered rebate management platform is designed to aid you in deal negotiation and agreement implementation due to its data-driven decision-making capabilities.
Stakeholder relationships: Manual rebate calculation for ERP systems results in mistakes, delays, disputes, and backtracking that is detrimental to business relationships. A rebate management platform offers transparent and collaborative rebate accounting processes that benefit stakeholders, thus minimizing friction between parties and establishing smooth relationships.
|Traditional ERP system||An Intelligent Rebate Management Platform|
|Primary purpose||Manages day-to-day rebate activities||Automates rebate proceedings|
|Data manipulation||Performed in excel sheets and then fed into the system||End-to-end data management inside the platform|
|Response to market fluctuations||No response||Suggests improvisations according to market trends|
|Data handling capacity||Acts as a data repository||Leverages data to offer business and revenue benefits|
|Impact on rebate ROI||No impact||Provides suggestions to improve ROI|
|Visibility of rebate earnings||Does not offer||Provides real-time visibility of rebate earnings for all stakeholders|
|Member performance tracking||Difficult to track||Tracks each member’s performance precisely|
|Integration capability||Can be integrated with limited eCommerce platforms, and software||Can be integrated with any existing ERP systems and software|
Why should you choose rebate.ai?
Rebate.ai is an AI-powered, all-encompassing rebate management platform to accelerate the growth and profits of your rebate business.
These case studies testify to who we are and what we do. Read our success stories to understand how Rebate.ai has empowered many businesses with 5x revenue growth. Yours can be next!
- In a buying group, distributors onboarded into Rebate.ai earned 27% higher rebates than non-onboarded users. To know how, click here.
- If you are a manufacturer and you want to learn howai enabled manufacturers to outperform their sales target by 21%, check this out.
- Do you know how a buying group’s members used Rebate.ai and reduced their overall time spent on rebate accounting by almost 70%? Learn here.
Making the Right Choice Can Multiply Your Rebate Earnings
Resorting to compromises or workarounds to increase rebate earnings is not a good plan if rebates are a critical revenue stream for your business.
The stress-free way to improve rebate ROI is to schedule a demo with our experts and stay assured that your rebate earnings are growing multifold.