We have standardized our process and improved our settlement rate to 90%, an improvement that allowed us to reclaim millions of dollars over the last few years.”Senior IT Manager
Refine, standardize, and automate deduction claim management
With a wide variety of pet-related product lines, multiple reporting formats, and tens of thousands of data records to analyze every month, a large, multi-brand petcare company found it increasingly challenging to manage deduction claims from its largest retailers successfully. According to a senior IT manager with the company, “There are so many different data sources that one has access to when trying to understand your company’s deductions. People are going back and forth to different portals, looking at different reports, it's a very manual and tedious process.”
Automated Deduction Validation and Resolution
As the petcare company searched for a solution it requested proposals from several software developers, but none of the suggested solutions met the company’s deduction-specific needs. Rather than searching for additional options, the company decided to work with the Nuqleous® team, a decision driven largely by the Nuqleous team’s unique familiarity with the retail industry.
“In addition to being data experts, the Nuqleous folks understand retail because they've been immersed in this industry for so long. That’s why I love working with them. I could just ideate what I was thinking, and they knew exactly where I was going. I didn't have to sit there, hold their hand, and explain everything. They just got it.”
Streamline is a cloud-based deduction management platform that intelligently joins multiple retailer and supplier data sources to drive fact-based deduction claims and settlements. By following an exceptions-based reporting model and allowing users to establish efficient workflows, Streamline provides a faster settlement process and enables higher dollar recovery.
Once it was implemented, Streamline brought much-needed efficiency to the global company’s complex deduction process. Rather than manually gathering and analyzing retail data, company analysts were able to use Streamline to triangulate multiple data sources and resolve their deductions with just a few clicks. And while seamless collaboration was the key to creating Streamline’s effective and efficient deduction resolution platform, the ultimate measure of the software’s success was found in the deduction resolutions themselves.
Efficient Claim Analysis and Increased Resolution Returns
“The beauty of Streamline is that it contains everything you need to resolve a deduction,” observed the petcare company manager. “Many of our deductions are automatically resolved because the software’s built-in intelligence resolves them based on the data it compiles.” He added that the solution’s automation frees his team to focus on other deduction types that require more in-depth analysis. And while the automation of deduction claims has made the resolution process more efficient, Streamline’s accuracy has translated into impressive returns on the company’s deduction claims.
Before implementing Streamline’s intelligent deduction management solution, the company maintained an average settlement rate of 55%. “By using the platform’s efficient workflow, we have standardized our process and improved our settlement rate to 90%, an improvement that allowed us to reclaim millions over the last few years. Today, thanks to Streamline, we’re protecting our bottom line by systematically challenging every disputable line item that comes through using a fact based approach.”
Settlement Rate without Nuqleous
Settlement Rate with Nuqleous