Using Vistex technology to increase the speed, compliance and accuracy of SPA management
Special pricing agreements (SPAs) are a great way to manage contract compliance and ensure that every channel partner is competitive. For manufacturers, SPAs are a great way to give your distribution partners a fair chance to stay competitive. Properly executed, a SPA will ensure your customers receive the correct price and place the responsibility to gain market share on the distributor. But how does a manufacturer execute successful SPAs with so many distribution channels and different incentives? From our experience, we’ve worked with many clients who have disparate systems managing each part of the whole answer. Some may use a combination of software applications, manual spreadsheets or nothing at all to effectively manage the entire lifecycle. These are the four ways our solutions bring value to the high-tech industry:
Our rules-based applications enable manufacturers to define highly complex contract parameters. We bring the complexity of SPAs into our solution to simplify the definition, approval and communication of contract benefits. Our robust approval processes bring in contract language, benefits and communicates to the distributors by automatically creating an executable version. We have seen our clients manage up to 20,000 programs using our contract management tool.
Our partner portal further enables the collaboration of manufacturers and distributors with a highly innovative front-office partner portal. The partner portal enables the red lining and negotiation process to ensure that both entities agree on the contract details. Tools like audit tracking, chat history and automatic notifications speed up the process of contract execution.
The next big challenge in the high-tech industry is the relationship with your distribution partners. This means timely payment of claims for the distribution services provided. As a manufacturer, you may struggle with receiving claims in multiple formats from hundreds of manufacturers. Some of the manufacturers we work with will even receive hundreds of formats from a single manufacturer!
Our highly flexible data translator can effectively automate the process of receiving different file formats and automatically create claims with the aim of increasing efficiencies to pay your distribution partners. We have seen successful organizations use our applications to process over 100 million files per day!
Inventory Channel Management
We’ve saved our customers millions of dollars by ensuring that they are paying claims for the correct amount and quantity. We further drive our passion for ensuring clients are maximizing their revenue by keeping tracking of inventory throughout the entire chain. Our current high-tech manufacturing partners are confident that they are paying their distributors quickly and fairly because they have visibility of inventory and its value at every point in the supply chain.
Real-time, relevant and predictive. Analytics provides visibility on the heartbeat of your distribution channel. We enable manufacturers to see real-time data, for example, the current inventory at any stage of the distribution channel. Second, it provides relevant data from the user, meaning that the data is current and actionable. And lastly, predictive analytics will ensure you are going to market with the most effective SPA programs to drive the most revenue, profit and efficiency to your organization.