Managing claims and deductions from your customers is critical to your business bottom line. Inefficient processes can lead to long resolution times increasing DDO and causing revenue leakage. And although many claims and deductions can be attributed to the cost of doing business, such as rebates and promotions, there remains plenty of other causes that can be reduced or simply eliminated. Market Medium puts the right tools at your fingertips so you can track, analyze and resolve claims and deductions quickly and accurately.

Features And Benefits

Proactive Claims and Deductions Management

  • Increase recovery rates and eliminate preventable and invalid deductions
  • Visibility to all claims and deductions in one simple to use dashboard
  • Reduce cost per transaction by shortening the deduction resolution cycle
  • Reduce DDO (Days Deductions Outstanding)
  • Eliminate costly duplicates and overpayments
  • Analyze and understand the cost and root cause of claims and deductions
  • Maintain compliance with enhanced controls and comprehensive audit trails

Workflow and Task Automation

  • Automate assignment of claims and deductions with Market Medium’s rules engine
  • Easily configure rules for auto settlement of claims and deductions based on reasons, thresholds, reference numbers and other attributes
  • Auto-match and resolve all trade deductions based on eligible promotion balances
  • Reduce communication bottlenecks with scalable workflow for collaboration and approvals
  • Automate the escalation claims and deductions based on age, reason and amount
  • Enable the collection of deduction backups and POD’s from your customers and freight carriers

Features

  • Centralized repository for customer disputes, claims and deductions
  • Flexible rules-based settlement engine to auto-settle claims and deductions
  • Configurable rules to automate and route claims and deduction to the proper team
  • Customizable workflow for approvals and sharing information with team members
  • Comprehensive audit trail on all actions and activities performed on claims and deductions
  • Quick and seamless integration with your AP and AR modules to generate the proper settlements for your trading partners
  • Interactive dashboard to analyze and sort claims and deductions by channel, partner, geography, spend, and more
  • Analytics for root cause analysis and cost of claims and deductions