#72 How to Optimize the Deductions Management Process

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 deductionsCommon deduction pain pointsHow technology can be leveraged to sort out all the portals, PDFs, and even stacks of paper and understand what’s going on in your businessHow to evaluate when to use a vendor for deduction managementWhat insights to look for from a deductions management process and how to use that information in your businessWhat it looks like to dispute deductions - with and without outside helpHow to prepare your brand for working with a deductions management vendorQuestions to ask a potential vendorExpectations for the deductions management process and when to expect returnsAnd more!Thank you to our partner Inmar for sponsoring this episode.Episode Links:Inmar websiteBill’s LinkedInShow Links:Join the Startup CPG Slack community (9K+ members and growing!)Follow @startupcpgVisit host Jessi's Linkedin or websiteQuestions or comments about the episode? Email Jessi at [email protected]