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Claims are also known as chargebacks/billbacks, which involves a process whereby a manufacturer approves of a special price agreement with a distributor. Claim Processors receive a large amount of claims to be validated, processed, and reconciled in Accounting. This Learning Path will guide you through the different steps of creating a claim (request of payment) to the final payout records.
Business Pains & Challenges
Time-Consuming - how long does it take to validate the large amount of claims received?
Wrong Payment - is the claim payment calculation accurate? Any manual intervention?
Lack of Traceability - can you easily identify the validated claims versus the paid claims to avoid overpayments?
Difficult Submissions - how easy is it to resubmit the claims for additional proof?
Pricefx Solution - Channel Management
Pricefx offers a functionality that allows automatic validation of the ship & debit claims received from the distributors, retailers, and brokers to reduce the risk of calculation errors. The solution helps to match the transactions, POS, and claims against the rebate agreements. The capability is integrated with the company’s ERP system to reduce manual reconciliation and wrong payouts.
Overview Channel Management - Business User Knowledge Base - Pricefx Knowledge Base
Key Functionality Channel Management - Business User Knowledge Base - Pricefx Knowledge Base
Claim Types
Represent the templates with specific logic that you can use to speed up the process of creating new claims.
Claim Creation
Represent the work area where you can create, validate, and reconcile the claims.
Create a Claim - Business User Knowledge Base - Pricefx Knowledge Base
Claim Records
Represent the area where the validated, calculated, and approved claims are stored for further review and accounting processing.
Quiz 10: Channel Management