Nowadays, many businesses offer a discount to motivate consumers to purchase more of a product, a wider variety of products, or to choose the product over a competitor’s choice, depending on your company’s objectives. Rebates and discounts are two different types of cost reductions that help a company’s overall sales, either directly or indirectly.
Rebates are a form of payment made after the fact that lowers the total cost of a good or service at a later date. This distinguishes rebates from discounts in that you pay the entire sum of the bill and only receive a portion of it back at a later date.
Most producers and retailers outsource brand rebate management to reap the benefits of a rebate program without the hassle. We’re proud to deliver a variety of rebate management services to suit your business’s needs at vistaar.
A good rebate program rewards customers and channels sales partners for their purchases while also benefiting the company by increasing sales, increasing customer retention, and collecting valuable customer data. Internal rebate administration, on the other hand, consumes time and energy that could be better used on other activities.
Customer rebate management software: Increase your sales and profit margins
Since rebate may make up the majority of a company’s profit for small to medium companies, and even a small change in the procedure may contribute to the discovery of millions of dollars for large businesses, it’s critical for any organization involved in rebate to review their current rebate management method regularly and recognize areas for improvement. The foundation for all of this is a focused rebate management software.
Many companies begin by handling rebates in spreadsheets like Excel or by relying on data from trading partners, only to discover that it’s a slippery slope! Reduced labor hours and costs due to automated refund calculations! Vistaar helps reduce the amount of time it takes to manage, measure, and validate rebates. You can get rid of several spreadsheets, save time for your employees, and boost productivity.
Features of rebate management software
- Easy to use – The user can complete tasks quickly and efficiently thanks to an easy-to-use interface that incorporates intuitive visual cues. The main aim is to make life simpler for the customer and radically simplify the discount management process with features that help easy and fast setup processes.
- Accuracy – It is not necessary to export data and measure accruals in several programs; this is a formula for inefficiency and error. A unified system can produce reports and analyze data in real-time, allowing financial impacts to be identified and the best discounts and rewards to be determined.
- Automated – Both rates and discounts that have been settled upon with the consumer and detailed in the trade agreement can be calculated easily and reliably by the system. It also allows for inclusions/exclusions and date efficacy, reducing the need for manual intervention during order entry.
Our Smart Rebate makes it simple for companies to build and maintain a variety of complex backend customer services, such as customer growth programs, chargebacks, and rebates.