Do you have a Love-Hate Relationship with Vendor-Funded Promotions?
Author:Matt Posey, NetSuite Practice Director
Do you look forward to or dread managing vendor-funded promotions in your retail business? They can be a great sales driver, but they can also be complicated and time-consuming to manage. You’re tracking deal variations by date, items, locations and other parameters, all to make sure reporting and payments are accurate. One of the toughest challenges is that most of the work is manual, making the entire process error-prone and a big time commitment for your team.
That’s why we developed the Deal Management application for NetSuite. We saw too many retailers struggling with something that can be simplified and automated… so we came up with a solution.
Our Deal Management App – specifically designed for retailers using NetSuite ERP – allows you to automate the tracking and reporting of vendor-funded deals from suppliers so that you can efficiently share the information with a vendor as proof of the promoted sales quantity and collect the agreed-upon amount.
A single source for tracking and reporting
Whether you have a few dozen or a few hundred vendor-funded promotions each year, Deal Management is the one app you need to efficiently capture and track sales; accurately report that information to the vendor; and collect on the vendor funds more quickly.
- Faster payments and better margins
- Sharper visibility and insights
- Simplified, more accurate record-keeping so no money is left on the table
- Save hours of time tracking and collecting on deals
- Gain control over tracking your own results rather than relying on the vendor to report them based on what was shipped versus sold
The generic deal apps out there don’t deliver retail-specific features. Our Deal Management app for NetSuite has the ability to:
- Capture the specific level of detail you need – including supplier, item, selling location and dates – to simplify the reporting and money collection from suppliers.
- Link a deal with a promotion set-up in NetSuite for validating deal performance.
- Accept complex deal details into NetSuite before the active deal period, including vendor, item, discount amount, dates, location and promotion.
- Give you flexibility in the way you enter item, supplier, and timing details of products qualified to receive funds.
- After the deal ends, report to the vendor which items on each deal sold on promotion and the agreed-upon dollar amount owed to you.
Stop the love-hate relationship with vendor-funded promotions! Go here to learn more details about our Deal Management app for NetSuite.