Everyone likes benefits in the form of schemes. In the retail supply chain, distributors make additional investments on schemes as defined by the brand, which they pass on to the retailers. So, do distributors get these schemes reimbursed? Yes, of course !! Here’s how.
‘Claims’ play a key role to empower distributors to get spends reimbursed from the brands.
But although it sounds very simple, that the money distributors spend gets reimbursed by the FMCG companies, in reality, the process is very complex which involves multiple resources and a very time taking process.
And this, adds up to a huge cost for the brand.
Here, Bizom as a retail intelligence platform jumps into the role and makes it easier for everyone.
Bizom enables brands to set rules to generate various types of claims and get inputs from distributors wherever needed. Majorly, claims are defined as –
- Additional expenses, like – incentives, salary, any other additional expenses.
- Schemes claims which are auto-generated as per defined rules.
- Damage claims that are generated as per returns filed by the distributor and defined rules.
Once distributors punch in their claims, the data is collected and stored in the system.
But do brands need to hire people to review and process claims? Traditionally, yes. Before Bizom they had to.
But now, Bizom reviews, validates and enables sales & commercial managers to verify derived data and process it further.
Wondering what happens to rejected claims? The system allows the distributors to check the rejection along with reasons and re-submit with corrections.
Ok, now the claims are approved, but how does the distributor get to know if claims settlement is processed & completed? Bizom, as one of the business partners, directly integrates with the Finance management system to send and receive data. This helps distributors to track actual returns of their spending.
Thus, in this manner, Bizom Claims Management helps distributors & brands by generating claims just with a couple of clicks. It connects the complete claims cycle and reduces approx 70% of manpower and time.