HDS Sales Discounts and Bonuses
An important sale can be won or lost in a matter of hours or days, which is why a company needs the right tools to help them make quick decisions. Automatic approval workflows for sales discounts and bonuses can be managed quickly and easily in HDS Sales Discount.
How Sales Discount works:
- Standard pricing policy is set within the system.
- Any deviation from the price list goes through an approval workflow.
- Discounts or bonuses for achieved targets with sales distribution channels are calculated.
- The system verifies the calculation and runs an approval workflow .
- Credit notes are issued based on approved requests.
Benefits of using sales discount optimization solutions
Paperless approval process and archives gives you easy access to electronic proof of approvals for compliance with legislation or internal rules or an eventual audit.
Gross Margin optimization
Closely manage the sales pricing process to maximize margin levels by requiring the sales teams to justify to their managers any exceptions to the standard price list. Keeping in mind that Sales Discounts can represent a very significant amount of a company’s profit.
Assures control and visibility in the sales discount or bonus process through a clear trace of all approvals. Reduces unauthorized or inappropriate credit notes.
Flexible, reactive decision-making
Offers automatic approval for set prices and accelerates the process of validation for special discounts or bonuses so sales teams can seal the deal quickly.
Automatic workflows make it easier for teams to obtain approval anywhere, anytime.
Reliability of data
Proper approval is required for sales discounts to be implemented or entered into the ERP. Resolves major issue of approval of credit notes.
- Processes requests, uploads files and checks computations
- Manages approval hierarchy at all levels
- Checks discounts against pre-set limits
- Secure and automatic archiving for desired time frame
- Archives document modification history and final approval
- Generates reports on approved amounts, discount volumes, etc, by distributer, per period, by sales person
- Manages multiple currencies
- ERP integration possible
- Can be interfaced with ERP, including customer database
- Automated process for generating and approving credit notes
- Implements approval process for the payout of bonuses based on sales targets
At Schneider Electric in Greece, sales teams use Sales Discount & Bonus to request authorization for and calculate discounts over a pre-entered standard price list or bonuses for achieved targets with sales distributions. Discounts are negotiated once a year, but the system is flexible enough to allow for exceptions while staying within a formal approval process. The results have allowed Schneider to better control sales discounts and gain visibility over the entire process and to create a sales bonus workflow simplifying the issuance of approved credit notes while also reducing employee fraud.