SAP today announced the launch of the SAP® Intelligent Trade Claims Management solution, which enables consumer products companies to increase their financial efficiency. SAP Intelligent Trade Claims Management is a cloud native solution in SAP’s industry cloud that applies intelligent technologies to automate and improve the trade claims process between consumer products companies and retailers.
By utilizing SAP Intelligent Trade Claims Management, companies are able to auto-match deductions instead of the previous time-consuming, inaccurate and costly manual matching process. The virtual assistant uses a combination of machine learning and artificial intelligence to automate claims processing, to recommend actions to accounts receivable analysts for faster exception handling, and to provide visibility from the retailers to the consumer products company. The solution enables brands such as MapleLeaf Foods Inc. to save money, improve compliance and reduce financial risk.
The consumer products industry is expected to grow to $14 trillion by 2025, and brands spend at least 20 per cent of their gross revenue on trade promotions with retailers. Furthermore, trade promotions are the second line item on a consumer products company’s profit and loss statement, and they have a direct impact on key performance indicators.
With an estimated 20 per cent of gross revenue tied up on the balance sheet, many companies write off thousands of small claims, aged deductions and invalid deductions. SAP Intelligent Trade Claims Management helps companies reduce their financial loss and reinvest the savings into growing their businesses. As this Harvard Business Review study notes, companies that survive economic downturns “master the delicate balance between cutting costs to survive today and investing to grow tomorrow do well after a recession.”
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This entry was posted on December 7, 2020 at 4:29 pm and is filed under Commentary with tags SAP. You can follow any responses to this entry through the RSS 2.0 feed.
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SAP & Consumer Products Companies Co-innovate Trade Claims Solution
SAP today announced the launch of the SAP® Intelligent Trade Claims Management solution, which enables consumer products companies to increase their financial efficiency. SAP Intelligent Trade Claims Management is a cloud native solution in SAP’s industry cloud that applies intelligent technologies to automate and improve the trade claims process between consumer products companies and retailers.
By utilizing SAP Intelligent Trade Claims Management, companies are able to auto-match deductions instead of the previous time-consuming, inaccurate and costly manual matching process. The virtual assistant uses a combination of machine learning and artificial intelligence to automate claims processing, to recommend actions to accounts receivable analysts for faster exception handling, and to provide visibility from the retailers to the consumer products company. The solution enables brands such as MapleLeaf Foods Inc. to save money, improve compliance and reduce financial risk.
The consumer products industry is expected to grow to $14 trillion by 2025, and brands spend at least 20 per cent of their gross revenue on trade promotions with retailers. Furthermore, trade promotions are the second line item on a consumer products company’s profit and loss statement, and they have a direct impact on key performance indicators.
With an estimated 20 per cent of gross revenue tied up on the balance sheet, many companies write off thousands of small claims, aged deductions and invalid deductions. SAP Intelligent Trade Claims Management helps companies reduce their financial loss and reinvest the savings into growing their businesses. As this Harvard Business Review study notes, companies that survive economic downturns “master the delicate balance between cutting costs to survive today and investing to grow tomorrow do well after a recession.”
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This entry was posted on December 7, 2020 at 4:29 pm and is filed under Commentary with tags SAP. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.