Returns Management
Trade Financials-Returns supports the entire lifecycle of product return reimbursement, from initial submission to final reconciliation and credit. Manufacturers, wholesale distributors, pharmacy chains, and even returns processing companies can leverage Trade Financials to gain precision and efficiency in returns reimbursement. In addition, when combined with the native returned product validation checking of Product Security, Trade Financials helps keep counterfeit product from entering legitimate supply chain channels.
Returns Submission capabilities enable companies to prepare for returns authorization and claim submission with the supporting evidence required to ensure fast and exact credit. Regardless if you prepare returns using established EDI 180 protocols or rely on more traditional methods of submitting returns claims, Trade Financials can improve your business.
- Gain more precise returns authorization through improved visibility into current product inventory
- Configure sending supporting serialized product pedigree data to your supplier that corresponds with each product identified on a prepared returned goods authorization (RGA)
- Track submitted claims through to closure, providing complete audit trails tying product movement with financial reimbursement
- Manage exceptions through the Nexus discovery and control interface that links Trade Financials directly to Product Security and other enterprise systems for research
- Identify any appropriate negative chargebacks required under contract. Then, leverage built-in integration to Trade Financials-Chargebacks to assist in preparing these claims
- Report on returns submission performance across several financial, product, and partner dimensions
Returns Reconciliation capabilities enhance the returns reimbursement process by improving both the initial authorization procedure as well as the inbound claim verification process.
- Improve initial vetting of returned product authorization requests by validation against matching pedigree data
- Verify received product returns against preauthorized claims
- Leverage the Nexus interface to quickly review, investigate, and resolve exceptions caused by product mismatches, quantity errors, return code inaccuracies, or claim amount miscalculations
- Report on returns reconciliation performance across several financial, product, and partner dimensions
