3 Reasons to Add Rebate Management to your Pricing Strategy and Sales Workflows
Enterprises use rebate programs to incentivize sales and influence buying behavior, but few understand the real impact rebates have on their bottom line. Without a combined view into their pricing and incentive programs, companies cannot match precisely, and in real-time the actual sales, purchases, and margins against customers’ orders and agreements. They can’t analyze and control business profitability. And customers cannot track and maximize their earnings with the purchases they are making. As a result, organizations are unaware if they are effectively incentivizing performance-related purchases.
Historically, to address these problems, companies put additional, complex processes in place, such as hiring more people, building home-grown software, or using manual spreadsheets to manage rebates. But with a lack of rebates strategy, no automation, and uncoordinated sales tactics, such practices are simply not scalable and ultimately fail.
An Integrated Rebates Management Solution
PROS is excited to have joined forces with Enable to deliver a best-in class-price rebate management solution. This fully integrated solution, called PROS Rebate Management powered by Enable, solves several critical selling and pricing problems across industries, but particularly for suppliers and distributors in the durable and non-durable good market such as building materials, HVAC, food services, automotive and industrial equipment, and tools to name a few.
Companies seeking to gain the edge in digital commerce will look to AI-backed technology, such as the PROS and Enable solution, which combines industry-leading omnichannel pricing and configure price quote (CPQ) capabilities with a full suite rebate management platform.
Top 3 Benefits of PROS Rebate Management powered by Enable
Let’s take a look at how our solution solves top business challenges for our customers.
- Optimize Visibility in Business Performance and Profitability
Often managers lack visibility into rebate structures and accruals, and aren’t able to track and analyze deal success. With PROS Rebate Management powered by Enable organizations can dynamically see the impact of the rebate on the margin and revenue opportunity at the time of quoting and then determine the most competitive and profitable price. Commercial teams then have clear insight into the deal structure and off-invoice rebate incentives at the time of quote.
Businesses gain complete visibility into their incentive programs, even at the most granular level, so they can understand how these rebates are performing and what improvements to undertake to execute successful commercial strategies.
- Improve Customer Experience
When customers don’t have visibility into their rebate thresholds and purchase volume, the agreement and system data may not match, causing disputed rebate claims and eroding consumer trust. Companies need to incentivize buyer purchasing and loyalty through faster and more accurate sales quotes by using transparent and clear incentive programs.
Also, a competitive and fully optimized price paired with rebates delivered in real-time improves the buying experience; buyers are incentivized to purchase more and maintain the relationship with their supplier.
- Increase Operational Efficiency
With PROS Rebate Management powered by Enable, enterprises will achieve greater operational efficiency by eliminating slow, manual rebate management processes and replacing them with automated calculations, and accelerated workflows and approvals. Pricing managers will be able to push dynamic AI-optimized prices that consider off-invoice concessions, gaining a real-time view into profitability across quotes and agreements, and ensuring pricing compliance on a global scale. And selling teams can deliver faster and more precise quotes to their customers.
PROS Rebate Management powered by Enable combines industry-leading CPQ capabilities with a fully featured rebate management platform. It is an end-to-end omnichannel pricing and selling platform that removes unnecessary complexity and friction, empowering pricing and selling teams with insights into the deal structure and how best to apply incentives to ensure the most competitive and profitable sale. It offers a centralized view for all rebate calculations, analyses, overrides and approvals allowing all parties to gain an understanding of the deal structure and threshold details, to come to an agreement and avoid disputes on the rebates claimed.
With PROS Rebate Management powered by Enable you can:
- offer different rebate types with dynamically optimized prices,
- streamline the quoting/approval process,
- handle complex rebate agreements,
- dynamically calculate margins with and without rebates,
- manage rebates upstream and downstream in a single platform,
- leverage a single data source, and
- use workflow and automation and reporting to manage, forecast and analyze rebate agreements.
You can check out more about our partnership with Enable here: PROS and Enable Deliver End-to-End Pricing and Rebate Solution | PROS
You also may be interested in this solution brief: PROS and Enable Rebate Management for Omnichannel Selling | PROS
We invite you to connect with us to talk through the possibilities.