iMANY DEDUCTIONS

What does DEDUCTIONS do?

IMANY Deductions enables the effective tracking, monitoring and control of claimed deductions by providing fact-based information critical for the resolution and collection of billing and payment discrepancies throughout the deduction lifecycle. Robust reporting capabilities enable customer service, claims, promotions, account receivable, credit/collection, and field service personnel to follow-up and resolve deductions quickly and efficiently

Why is DEDUCTIONS important?

Critical for the better management of cash flow and working capital is containing revenue leakage caused by improper deductions and reducing invoice processing and reconciliation costs. Aligning trade promotions and deductions processes improves staff efficiency and effectiveness and enhances customer satisfaction.

For whom is DEDUCTIONS designed?

iMANY Deductions is designed for deduction analysts and credit managers that need effective tracking, monitoring and control of deduction claim processing throughout the deduction lifecycle.

KEY BENEFITS

Resolution and root cause analysis

Uncover trends in frequent claim deductions and implement appropriate controls on individual customer behavior. Guide users through the entire resolution process while operating within corporate policies.

Gain control of deductions receivables

Monitor and maintain all deductions details through a recorded deduction-history database for governance and compliance reporting, future follow-up, and post-audits. Track promotional payments and billbacks and auto-reconcile debit and credit memos.

Reduce Days Deductions Outstanding (DDO)

iMANY Deductions provides the ability uncover DDO period-to-period customer trends and identify deduction-related issues through a series of automated checks that generate actionable alerts to discrepancies. User-defined workflows enables to-do list generation based on company and customer priorities; application of payments through flexible auto-write-off and batch matching processes eliminating thousands of deductions; and automated follow-up correspondence that streamline the resolution process.

KEY FEATURES

Follow-up

iMANY Deductions provides a Follow Up capability that functions as a actionable alert to ensure research and followed-up in a timely manner. Leveraging user-defined workflows defined in the Action Profiles for each deduction type ensure that notifications and alerts are assigned to pre-determined users for each step of the Action Profile to prevent any misplaced or overlooked deductions.

Resolve deductions based on matching controls

iMANY Deductions enables users to specify matching controls to automatically offset debits and credits. Configure the matching process to check each deduction against the deduction database by setting auto-match criteria at the business and/or customer-level. Match against parent/child relationships and specify grouping and tracking prefixes and set business-specific and customer-specific small and high balance write-off tolerances. Set a small balance write-off reason field with the ability to specify the G/L account for the write-off balances.

Robust Reporting

By leveraging the detailed deductions data, IMANY Deductions provides deep insight with robust static and dynamic self-service reporting that meets business needs.

KEY CAPABILITIES

Multi-reason code assignment

Often when a customer takes a deduction, the reason for the claim is unknown. Follow-ups on the deduction claim can uncover multiple reasons. Using iMANY Deductions, a user can split a deduction into its component reasons, assigning a unique reason code to each reason.

Transferring deductions between accounts

iMANY Deductions enables users to transfer deductions from one customer to another customer across businesses.

Action Profiles

Users can define an Action Profile for each type of deduction and customer deduction claim. Action Profiles determine the steps that will be taken on a particular type of deduction and include details on individuals responsible for each step of the deduction claim; time-period before the customer will be contacted again and type of contact that will be made.

Perform mass write-offs on multiple deductions

iMANY Deductions provides the ability to write-off a group of when multiple deductions need to be written off.