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The Startup CPG Podcast

#72 How to Optimize the Deductions Management Process

The Startup CPG Podcast

Startup CPG

Startup, Food, Business, Beverage, Cpg, Entrepreneurship

4.9642 Ratings

🗓️ 6 December 2022

⏱️ 44 minutes

🧾️ Download transcript

Summary

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.

Transcript

Click on a timestamp to play from that location

0:00.0

Once you start disputing invalid deductions with certain distributors or retailers, they do make note of that and then they tend to respond to you or they kind of understand that, all right, they're watching their deductions.

0:17.3

Welcome to the Startup CPG podcast. I'm your host, Jesse Freytag. I once received a check from a

0:23.1

distributor for $500, but it listed a ton of invoices. I dug in and that check was for $40,000

0:29.3

worth of product. It was a combination of unauthorized refills that led to a broker conversation

0:34.9

and double charges for a big distributor promotion plan

0:38.3

that was expensive before doubling it.

0:40.3

But the amount of time it took to track down all that info, dispute, follow-up, and receive a

0:46.3

checkback was astronomical, and that was just one of the many instances to investigate.

0:51.3

So how can you protect your margins from invalid deductions and understand

0:55.9

what's going on in your business even with valid deductions? It's not easy, so today we

1:00.8

have built a senior client success manager at INMAR Intelligence with over a decade in deductions

1:06.4

management experience. InMAR has a deductionsed software platform that helps reduce invalid deductions and simplify

1:13.6

workflows, reducing deductions administrative work by up to 80%.

1:18.6

Listen-in as bill covers, types of deductions, common deduction pain points, how technology can be leveraged

1:25.6

to sort out all the portals, PDFs, and even stacks of paper and understand what's going on in your business.

1:31.0

How to evaluate when to use a vendor for deductions management?

1:34.8

What insights to look for from a deductions management process and how to use that information in your business?

1:40.7

What it can look like to dispute deductions with and without outside help, how to prepare

1:45.6

your brand for working with a deductions management vendor, questions to ask a potential vendor,

1:51.3

expectations for the deductions management process and when to expect returns, and more.

2:20.7

Hi, Bill. Welcome to the show today. How are you? Doing well. How are you doing? I'm doing really well. I am very excited to talk about deductions because it's such a hot topic in our community and excited to have an expert like yourself here. So would love if you could tell us a little bit about yourself, your background, and about Inmar.

2:21.4

Sure.

...

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