What’s the one thing most businesses struggle to master? It’s not finding customers, making money or handling people. It’s managing time.
John F. Kennedy once said, “We must use time as a tool, not as a couch”, and that’s honestly something we need to incorporate in our work/business lives.
Procrastination, coupled with a lack of tech interventions, makes business processes lose their ability to build smoother operations, both internally and externally.
In the FMCG supply chain, one such process is managing claims. Businesses that use traditional methods to manage the claims made by their sales teams and distributors, largely end up wasting time and the couch gets filled with piles of paperwork, creating a large gap in the claims processing cycle and a larger lack of motivation amongst these stakeholders.
Think about it. If salespeople who shell money out of their own pockets to travel markets and meet clients, are not reimbursed in time. Will they remain motivated or turn sceptical?
If distributors who are pumping in money to buy the brand’s products are not paid in time for their claims, will there be a harmonious relationship between the brand and the distributor? Will they have the faith to invest more in the brand?
So, to make sure that small bills don’t come in the way of building a strong FMCG business, leading FMCG companies are choosing to incorporate a Claims Management System within their supply chain, in order to reduce the piles of paperwork, reduce the time taken to file and sanction claims and to increase the satisfaction of employees and channel partners rampantly.
Our clients who are using Bizom’s Claims Management solution, have evidently been able to bring down their claims processing cycle from months and weeks to days and have been able to increase their net promoter score and the investment from distributors in their business.
Another significant business impact is that, having a claims management system that automates the entire process, enables companies to get clear real-time visibility on how much money they owe these stakeholders.
Yet, the most basic importance of a claims management system remains the fact that it enables salespeople and distributors to save tons of time and money in personally travelling to the company or sending their bills via courier. They can simply punch in their claims anytime from any location and continue to invest their time and efforts in increasing the business.
Is your business still using a redundant method of managing business claims?
Connect with us to know how leading FMCG brands are managing time, business relationships and bills better with Bizom Claims Management. Send us a mail at firstname.lastname@example.org and schedule a free demo.