Solving the Invoice Deduction Puzzle
If you're selling to big box stores like Walmart, Bed Bath & Beyond, and others, you probably struggle with retailer invoice deductions. Best-in-class consumer goods companies deal with invoice deductions, too. Not surprisingly, these companies rack up fewer invoice deduction penalties overall. They also have systems in place to track, dispute and recover invoice deductions when they do occur.
If your ERP system does not include invoice deduction management tools, then you are missing out on critical functionality that can help you minimise the incidence of invoice deductions, and recover erroneous deductions when they do occur.
Complying with retailer requirements is the first step toward eliminating invoice deductions from your balance sheet. Choosing an ERP application that has built in compliance tools, and offers complete visibility across your organisation, will help you meet mandates such as EDI, labelling, packaging requirements and a host of other rules that retailers throw your way.
What to do about erroneous invoice deductions? The right ERP application will help you drill into the reasons behind invoice deductions, and enable you to easily document and prove your case to resolve erroneous deductions. The right ERP solution will also help you find the root cause of legitimate invoice deductions, so you can remediate your processes and minimise the occurrence of future incidents.
If invoice deductions are chipping away at your profitability, take a good hard look at the software and processes you are using to comply with retailer mandates. Most likely, you can benefit from a best practice review from the experts at Apprise Software. And if your ERP solution does not include the compliance tools you need right out-of-the-box, it's time to consider upgrading to a consumer goods specific ERP solution with integrated invoice deduction management tools, like Apprise.
Click here to learn more about our invoice deduction management tools.