The Startup CPG Podcast #72 How to Optimize the Deductions Management Process
I once received a check from a distributor for $500, but it listed a ton of invoices. I dug in and that check was for $40,000 worth of product - it was a combination of unauthorized free fills that led to a broker conversation and double charges for a big distributor promotion plan that was expensive before doubling it. But the amount of time it took to track down all the info, dispute, follow up, and receive a check back was astronomical, and that was just one of the many instances to investigate. So how can you protect your margins from invalid deductions and understand what’s going on in your business even with valid deductions? It’s not easy, so today we have Bill Poore, a Senior Client Success Manager at Inmar Intelligence with over a decade in deductions experience. Inmar has a DeductionsLink software platform that helps reduce invalid deductions and simplify workflows - reducing deductions administrative work by up to 80%.
Listen in as Bill covers:
- Types of deductions
- Common deduction pain points
- How technology can be leveraged to sort out all the portals, PDFs, and even stacks of paper and understand what’s going on in your business
- How to evaluate when to use a vendor for deduction management
- What insights to look for from a deductions management process and how to use that information in your business
- What it looks like to dispute deductions - with and without outside help
- How to prepare your brand for working with a deductions management vendor
- Questions to ask a potential vendor
- Expectations for the deductions management process and when to expect returns
- And more!
Thank you to our partner Inmar for sponsoring this episode.
Episode Links:
Show Links:
- Join the Startup CPG Slack community (9K+ members and growing!)
- Follow @startupcpg
- Visit host Jessi's Linkedin or website
- Questions or comments about the episode? Email Jessi at jessi@startupcpg.com