Rebates: we need better management
What if there was a better system for managing rebates in the animal health sector? A solution that not only integrates real-time data but also offers a manufacturer all the tools to manage each step in the rebate process.
Effective rebate management must go beyond simply processing figures and invoices. Instead, it’s necessary to establish a system that manages the multitude of pricing schemes, engages your customers in the contract process, provides a full audit trail in the calculation process and ultimately aids in driving customer loyalty, greater visibility, and eliminating costly errors.
We need… Precise Management
Effective rebate scheme management – also known as pricing management – is where it all begins. We need the tools so that customers can model, forecast and create rebate schemes and manage the authorization processes. Improved functionality should include:
- Multiple product groups
- Seasonal marketing promotions
- Customer price adjustments
- Overrides to schemes or discounts
- Effective management of sign-off and authorization
We need… Better Contract Management
Gaining commitment from rebate scheme customers should be a fast and effective process for field staff. Sales teams should have the right mobile tools to discuss and commit to contracts and place orders on in-season offers. The engagement process should be transparent on both sides – critical in a business environment where face-to-face time is limited.
We need… Better Rebate Processing
The largest headache for any customer is the processing of rebates – both the processing of sales data against customer commitments and complex rebate schemes. Added to that is the constantly changing landscape of corporatization, consolidation of businesses, price changes, scheme changes, buying group commitments, incorrect data.
The solution: provide customers with a rebate processing tool that allows checkpoints, data rollback, audit trails and traceability.
We need… Genuine and Enduring Customer Loyalty
Customer loyalty comes from better communication, and a more engaging and intuitive experience.
Granting greater visibility to sales teams allows them to easily access information and discuss current commitment levels and rebate status. More transparent, more visible, and opportunities for improved agreements. It’s a win-win.
Another option: a loyalty portal. Rebates can take many forms – discounts, payments, loyalty points, vouchers, etc. Creating a loyalty scheme for customers via an online loyalty portal helps them engage beyond the latest invoice:
- Complete payment history and performance
- Rebate purchase modeling
- Net pricing
What does this mean? Users can monitor their own performance, incentivizing them to exceed their goals and reach higher discounts. It means a guaranteed marketing opportunity in a space your customers will visit regularly. It means a customer experience that – at last – benefits provider and customer alike.
We need… to End the Rebate Headache
“Change is possible,” says Richard Sibbit, Managing Director of Animal Health at Proagrica, independent provider of connectivity solutions for the industry. “All parties need access to a suite of rebate tools, and with accurate master data management and visibility and traceability in the rebate supply chain, a pain-free rebate management process becomes possible. These are all fundamental pieces in the rebate toolbox for animal health which will ultimately drive growth and secure strong relationships.”
Proagrica, part of RELX Group, is a global provider of independent connectivity and data-led insight across the agriculture and animal health markets. We deliver actionable intelligence to drive business growth across the value chain. Our superior products and services connect and empower industry participants to address their key needs around trading, productivity and compliance.
Our solutions are built around the key competences of data connectivity and data analytics delivering seamless supply chain management, supply chain standards compliance, and customer insight and engagement, essential for businesses looking to improve their value offering and expand in the modern marketplace.
Proagrica also encompasses performance-boosting farm management software brand Farmplan, and industry-leading media platforms, including Farmers Weekly.
RELX is a global provider of information-based analytics and decision tools for professional and business customers. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs over 30,000 people, of whom almost half are in North America. The shares of RELX PLC, the parent company, are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX.