Automated Data Integration with Top Three-Tier National Wine Distributors Now Available
Automated Data Integration with Top Three-Tier National Distributors Now Available to Improve Wine Industry Price Management Processes
FOR IMMEDIATE RELEASE
NAPA, CA — Tradeparency is happy to announce the latest release of their full-cycle trade promotion management solution: the first-ever system to automate billbacks and depletion allowances between wineries and top national distributors to facilitate faster payments and less overall friction in the process.
“Billbacks and depletion allowances are a major part of the three-tier wine industry,” says Doug Hoogervorst, Founder and President at Business Impact, Tradeparency’s parent company. “It is one of the most common complaints we hear — that the process for submitting and receiving billbacks is cumbersome and often error-prone. The lack of automation has severely hindered growth for some wineries and negatively impacts how they work with the top distributors in the country. As a solution that focuses exclusively on helping wineries and importers get really clear on their financials and distributor programs, we knew that automating this process would be a game-changer, so we built it.”
Tradeparency’s automated data integration is built into the centralized pricing and promotions management platform to streamline the process for billbacks and depletion allowances by allowing wineries to upload .CSV or Excel files provided from top three-tier wine distributors — including Southern Glazers Wine and Spirits, RNDC, and Winebow, to process invoices. The system then completes a fully automated billback process that verifies distributor invoices with active depletion allowance deals and promotional programs, crosschecks, and processes them, ensuring accuracy and speed can coexist. In a season of high-volume wine sales and universal resource shortages, this solution delivers a better overall experience to the distributors that wineries rely on, with accuracy, while reducing manual workloads.
“The entire billback and depletion allowance exercise in this industry has been antiquated for some time,” notes Andrew Ridling, Co-Founder and VP of Product Management at Tradeparency. “Too often wineries are taxed with extensive manual processing and crosschecks while still falling prey to erroneous payouts or depletions. With this automation, wineries can be more secure that what they payout is what was owed, and distributors can enjoy faster payment and a smoother process.”
This new automation extends beyond the major distributor networks. It provides the ability for wineries to build and upload a number of templates that only require their distributors to supply electronic files in a consistent format.
“Automation is the key to success for the wineries and distributors,” Hoogervost says. “It’s time we get more of our industry digitally transformed, so we can limit the burden on staff, reduce inaccuracies and improve revenues. By taking out the tedious, manual processes, wineries and distributors can focus more time on strategic initiatives that improve winery and distributor relationships overall, and everyone in the chain can do more with less.”
Tradeparency announces this automation capability as a bit of a pre-release, with increased automation and improved data processing coming in Q1 of 2022.
To learn more about Tradeparency, check it out.
In the competitive wine market, we know firsthand that price is the holy grail of your brand and bottom line, and that is why Tradeparency was born. Tradeparency delivers total control and visibility of your trade spend management through a complete pricing, promotion, and depletion allowance solution that brings your finance, sales, and IT teams together and plugs your margin leaks instantly.
Our promotion, rebate, and billback software is built by technology leaders and data fanatics in the wine industry and is made specifically for the needs of three-tier wineries and wine importers. Tradeparency works to immediately eliminate the costly and error-prone reliance on manually managing and reconciling negotiated distributor pricing or relying on incomplete depletion data that ultimately cost you profits.
Removing all the manual reconciliation, approvals, and invoice processing by using a full-cycle price management solution, Tradeparency ensures that you never pay out unwarranted funds, and you can accurately track every dollar across all your markets and programs, including by-the-glass.
It’s not just transparent trading; it’s complete Tradeparency.