Pricefx Launches ChannelManager to Automate and Streamline the Claims Management Process
Pricefx, the global leader in cloud pricing software, launches ChannelManager, a new module on its award-winning pricing platform. Designed for manufacturers and suppliers in every industry, ChannelManager streamlines ship & debit and trade management processes by automating and validating distributor claims in a single management platform. This complements the existing capabilities of optimizing and managing promotions and special pricing. With ChannelManager, manufacturers can implement a quick and efficient claims management process that reduces miscalculations, decreases turnaround time and improves transparency – while delivering cost savings for all parties.
“Ship and debit programs are critical to the successful sale of bulk consumer and industrial goods, particularly when price adjustment agreements are enacted to offset market changes,” said Martin Wricke, Chief Product Officer and co-founder of Pricefx. “We realized that this industry was ripe for technology innovation and automation. Working with our global manufacturing customers, Pricefx designed ChannelManager to fill the gap in the ship and debit claims management process. Now our customers can take the manual handling out of claims, freeing up the workforce and producing accurate calculations with speed.”
When executed properly, off-invoice incentives are a win/win for the distributor and manufacturer. While distributor margins narrow somewhat during this period, they can claim these differences. However, the process involves complicated, costly and laborious tasks, which can drain manpower resources. There can be significant delays in submitting claims to the manufacturer due to the sheer amount of paperwork and calculations required. Miscalculations by the manufacturer can lead to distributors being paid too much or too little. There is the potential for false claims to be paid as well.
Pricefx now automates and simplifies this process. ChannelManager uses automated claim-based validation with configurable rules and cross-references the claim items with invoices, quotes and transactions. This solution accelerates the reconciliation process, reduces miscalculations and allows distributors to get reimbursed quickly.
ChannelManager integrates distributor claims management into one uniform platform, supporting multiple claim types, across regions and with varied validation rules. It also integrates easily with other modules from the Pricefx platform, as well as third party software. The approval workflow is flexible and can initiate various actions such as payouts through an ERP system.
Established in 2011 in Germany, Pricefx is the global leader in SaaS pricing software, offering a comprehensive suite of solutions that are fast to implement, flexible to configure and customize, and friendly to learn and use. Pricefx delivers a complete price optimization and management platform based on native cloud architecture, providing industry leading time to value and total cost of ownership advantages to customers. Their innovative solution works for both B2B and B2C enterprises of any size, in any industry, in any part of the world. Pricefx’s business model is entirely based on the satisfaction and loyalty of its customers. Today, Pricefx delivers Passion for Pricing to more than 90 customers in more than 37 countries worldwide. For more information, please visit www.pricefx.com.
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