Deduction management software helps businesses manage disputes and deductions. These deductions include rebates, discounts, returns, or other changes made to invoices or payments.
Deduction management solutions offer tools to centralize the deduction process and streamline workflows. This encourages efficiency, shortens outcome times, and reduces the impact on cash flow.
A deduction management solution can support a business's financial operation by escalating disputes and evaluating lifecycles. This helps companies identify opportunities to manage potential risks better.
Companies finance and accounts receivable teams, often utilize deduction management software to streamline disputes, prevent revenue loss, and ensure cash is gathered on time. This software frequently integrates with other financial systems, ERP software and CRM software.
To qualify for inclusion in the Deduction Management category, a product must:
Evaluate revenue loss and discover opportunities for profit
Provide reporting and visibility into unwarranted deductions
Manage vendor accounts and calculate global trade ROI
Reduce the impact of deductions on revenue