B2B organizations distributing their products through partners rely on channel incentive programs to support and grow revenue, including rebates and SPIFFs. Managing, implementing and ensuring compliance for channel incentive programs is a complex and time consuming task. It is virtually impossible to effectively promote, manage and measure the success of rebates, SPIFFs, or other channel incentive programs via manual processes and ad hoc systems. The lack of streamlined and automated processes can lead to incorrect overpayment of claims, potentially costing thousands or millions of dollars each year. Incorrect channel incentive management can also lead to incorrect revenue recognition and sales commission payments.
Automate and streamline the rebate management cycle
Entomo automates and streamlines the entire “request-approve-claim-validate-authorize-payment” cycle. Regardless of the type of channel incentive, the process starts with the partner requesting or registering for a rebate or other incentive program by using Entomo’s SmartHub® Partner Portal. The request is then auto-routed for approval. Once the approved activity has been performed, claims are submitted via the Partner Portal and automatically validated and authorized for payment or credit. If a claim is rejected, you can review the claim details and perform a manual override if necessary, with comments and an audit trail. Payment authorizations are automatically transmitted to the appropriate financial system for payment.
FULL rebate Program MANAGEMENT
Configure multiple global rebate, SPIFF, or other incentive programs in SmartHub. There is no limit to the number of programs that can be configured.
Incentive parameters that can be defined include but are not limited to:
- Time period
- Accrual rates
- Payment caps
These program definitions are used along with transaction data to determine fund or rebate accruals. SmartHub provides the ability to do automated accruals and authorize payments, without the partner having to make an explicit claim.