In this episode of The Procurement Software Podcast, host James welcomes Mark Gilham from Enable to discuss the complexities and opportunities surrounding rebates in procurement.
They explore how effective tracking and reporting of rebates can lead to significant savings for organisations.
Tune in to discover practical strategies that can help your organisation navigate the opportunities of effective rebate and post-signature contract management.
Rebates, and their procurement savings potential
In this podcast episode, Mark Gilham from Enable highlights the importance of strong communication between procurement and finance teams when managing rebates. He explains that procurement often focuses on savings, while finance looks at the broader financial impact. Open dialogue is essential to ensure both teams are aligned, particularly when dealing with one-off rebates that can affect financial forecasts.
Mark also stresses the importance of building strong relationships between the two departments to better understand each other's goals and challenges. Collaboration between procurement and finance can prevent misalignment and ensure smoother rebate management.
Additionally, Mark discusses how technology, such as Enable’s platform, provides a single source of truth for rebate agreements and performance tracking. This transparency helps both teams access the same data, reducing misunderstandings and driving more informed decision-making, ultimately improving financial outcomes for the organisation.
Timestamps:
[00:01:10] Rebates and procurement challenges.
[00:06:38] Procurement and rebate management.
[00:09:05] Performance-based rebate structures.
[00:12:36] Communication with finance teams.
[00:18:30] Collaborative rebate management platform.
[00:20:03] Contract management tool capabilities.
[00:27:12] AI in procurement technology.
[00:28:10] AI in rebate management applications.
And that wraps up another episode of The Procurement Software Podcast!
Thanks again for listening, and do please leave us a review on Apple Podcasts or rate us on Spotify. Every one helps!
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Stay in touch!
1. Connect with Mark Gilham on LinkedIn (www.linkedin.com/in/markgilham/)
2. Check out Enable (www.enable.com/)
3. Download our Tech Map for Enterprise (store.procurementsoftware.site/tech-map-for-enterprise)
4. Download our Tech Map for Mid-Market (store.procurementsoftware.site/tech-map-for-mid-market-businesses)
5. Download our Tech Map for SMEs (store.procurementsoftware.site/tech-map-for-smes)
6. Find your perfect procurement tech solution in our Software Finder app (app.procurementsoftware.site/)
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8. Book an Intro Call (calendly.com/jamesmeads/30-minute-intro-call) and let’s talk all things Digital Procurement!
9. Connect with James on LinkedIn (linkedin.com/in/james-meads/)