It’s Time to Start Processing Rebates and Royalties Using Commission Plan
Did you know? Your Commission Plan software does more than just commissions; it also handles rebates and royalties.
In many organizations, one person or department typically handles commissions, another handles rebates, and another handles royalties. Since these tasks all take similar functions and skills, this means your staff is tripling their workload.
Find out how Commission Plan software for Microsoft Dynamics GP takes care of all these processes for you quickly, accurately, and stress free.
How Rebates Work in Commission Plan
Rebates calculate just like a commission, except the “payment” goes to your customer. You can choose to send them a rebate directly or apply it to their customer account. It really is that easy.
Case study: One of our clients only processed rebates once a year because it was such a massive task. As a result, customers started to short-pay their invoices knowing they would get a rebate later. You can imagine how this dragged down an already-painful rebate process into an accounting nightmare. When our client started using Commission Plan for rebates, all those problems disappeared.
How Royalties Work in Commission Plan
Royalties calculate by item, again just like a commission, except the payment goes to the author, artist, photographer, or other creator of the item.
Just like paying a commission to a salesperson, the payment will be fully transparent, sent directly to the royalty recipient, and processed in just a few clicks with your other Accounts Payable tasks.
Again, it really is that easy.
It Makes Sense to Handle Rebates and Royalties in Commission Plan
We talk a lot about how increased transparency in your commissions process makes your salespeople happier and can reduce turnover. By extending Commission Plan’s powers into your rebate and royalty processes, you can also make customers and creators happier because they will clearly understand payment details. They will also like getting paid faster than they did when the process was manual.
Even better, this efficiency and transparency helps your staff. When you process rebates, royalties, and commissions in one system, you will finally be able to accurately right-size your pricing. Why? Because you will be able to clearly drill down to the actual cost of your goods per line item, after all rebates, royalties, and commissions have been applied. Just take a moment to imagine what you could do with that information.
Since 2002, companies across every sector have relied on EthoTech for the right tool for tracking, calculating, and paying variable compensation. We provide solutions, integration, and support that is focused solely on integrated variable compensation software for Microsoft Dynamics GP. It’s all we do, and we do it better than anyone. Contact EthoTech to learn more.