Consumer Goods Industry Deduction Management Services
Smyyth’s full range of Accounts Receivable and Reconciliation and Profit Recovery solutions are custom tailored for consumer goods companies. Our decades in the business have demonstrated that huge profits are lost due to inadequate skills or software to drive the auditing, resolution and recovery of excessive customer deductions. Even in the best managed companies, this profit leakage is often budgeted as a “cost of doing business”. Our experience is that it doesn’t have to be this way. Cash recoveries can be doubled while rooting out the systemic, repeat causes of these infractions. We have the skills, staff and the special Carixa software to solve your problem of any scale or scope.
Deductions: Plague on profits
Consumer Goods Industry is a specialty of Smyyth. Suppliers face challenges resulting from large transaction volumes and industry trade practices, including trade promotions, returns and vendor compliance issues. Dealing with large retailers is complex, especially considering the business rules mandated for billing and fulfillment.
The result is significant revenue dilution caused by myriad of customer deductions and disputes constitutes a significant profit loss for suppliers. Smyyth’s business model and Carixa technology is especially suited for this industry, as it provides the tracking, root cause identification, and collaborative workflow to optimize efficiency and recapture of erroneous deductions. Moreover, we are comfortable with very large volumes.
Ship and Bill Correctly – Stop Errors, Deductions and Compliance Penalties
By collaboration with the Vendor Compliance Federation, Smyyth is making available the Compliance Clearinghouse™, an automated, expert service that alerts you to changes in customer purchasing compliance, EDI, packaging, labeling, billing and shipping rules so that you can avoid product, billing and shipping errors, and save the cost of the related expensive deductions and penalties.
- Consulting to improve the Deduction and Accounts Receivable process
- Auditing customer deductions to recover errors and root causes
- Straightening-out purchase order compliance
- Comprehensive AR Outsourcing
- Cure projects for deduction backlogs
- Deduction Management
- Trade Promotions
- Logistics claims and deductions
- Massive Account Reconciliation
- Returns matching
- …any deduction category
Our experience covers all aspects of the industry from CPG, food, electronics, home entertainment to fashion goods.