PLEASANTON, CA--(Marketwired - Jan 27, 2014) - iTradeNetwork, Inc. the leading provider of supply chain management and intelligence solutions to the food industry, today announced the general availability of the iTradeNetwork Enhanced Billback Solution. This new cloud-based solution simplifies and standardizes the way rebate claims are requested, verified, and managed. The Enhanced Billback Solution is the latest addition to iTradeNetwork's comprehensive suite of optimization solutions that bring efficiency and improve the accuracy of data within the billions of transactions that occur between trading partners across the food industry every year.
The iTradeNetwork Enhanced Billback Solution helps manufacturers and distributors address the time-consuming and error-laden tasks associated with verifying rebate billback claims and payment accuracy.
The Enhanced Billback Solution:
- Provides a simple and standards-based way for distributors and other buying organizations to electronically submit billback reports to manufacturers
- Enables real-time synchronization with trading partner's product catalogs to ensure data accuracy and consistency
- Establishes a normalized integration source for billback claims to the manufacturer from distributors and other buying organizations
- Presents manufacturers and distributors with a simple and common web based user interface for reviewing, editing, and verifying billback claims
- Ensures that each line item is presented using the manufacturer's product identification codes, eliminating manual data mapping steps
- Provides the ability to compare contract terms and actual sales data so that discrepancies can be quickly identified and addressed
The new solution has been piloted with existing iTradeNetwork customers.
"iTradeNetwork's Enhanced Billback Module helps us to simplify and automate our most unwieldy financial processes with a simple, cost-saving solution," said Brad Dowie, Trade Marketing Manager for Ocean Spray. "We now process rebate claims with better accuracy and in less than half the time than previously possible. This helps us to improve customer satisfaction while also having a positive impact on our bottom line."
"Billbacks are an important part of the relationship between distributors and manufacturers. Quickly reconciling and ensuring accuracy is a major pain point," said Joe Bergera, President of iTradeNetwork. "In order to address the problem, we leveraged our data management and business process expertise to automate cumbersome workflows, eliminate errors, and streamline the experience for all parties."
"The Billback process, while sounding simple, can get complex when a manufacturer and distributor work independently," said Lora Cecere, Founder and CEO, Supply Chain Insights. "iTradeNetwork's solution is designed to be collaborative, enabling a common and real-time view of the qualifying transactions. This can improve accuracy and drives down cost."
About iTradeNetwork, Inc.
iTradeNetwork, Inc. is the leading global provider of on-demand supply chain management and intelligence solutions to the retail, hospitality, and foodservice industries. Built upon deep industry expertise, a rich data foundation, and an extensive trading partner network, iTradeNetwork's collaborative solutions allow distributors, manufacturers, operators, retailers, suppliers and wholesalers of all sizes to reduce cost, grow revenue, and strengthen trading partner relationships. iTradeNetwork is a unit of Roper Industries, a Standard and Poor's S&P 500 index company.
© 2014 iTradeNetwork, Inc. All rights reserved. iTradeNetwork and the iTradeNetwork logo design are either registered trademarks or service marks of iTradeNetwork, Inc. in the United States and/or other countries. All other trademarks and registered trademarks are property of their respective holders.