Why Manual Dispute and Deduction Management is Costing You Time and Money

Why Manual Dispute and Deduction Management is Costing You Time and Money

Manual dispute and deduction management can be a time-consuming and costly process for businesses. When handled manually, these tasks often require a significant amount of staff time, leading to increased labor costs and potentially delayed resolutions.

Additionally, manual processes are more prone to errors, leading to incorrect resolutions, which can further impact the business's bottom line. Implementing an automated dispute and deduction management system can help eliminate these issues and improve efficiency while reducing costs. By automating these processes, businesses can save time and money while ensuring accurate and timely resolution of disputes and deductions.

How iNymbus Automated Dispute Management of Mid-sized Retailer:

One of iNymbus’s customer which is is a mid-sized company in the United States that sells consumer goods to retailers across the country. Their accounts receivable team is responsible for managing disputes and deductions related to Amazon and Walmart. Until recently, they had been using a manual process to manage these tasks, which was causing several issues.

Firstly, the manual process was very time-consuming, requiring a lot of staff time to investigate and resolve disputes and deductions. This was taking time away from other important tasks, and the backlog of disputes and deductions was beginning to pile up.

Secondly, the manual process was more prone to errors. Due to the high volume of disputes and deductions, staff members were frequently making mistakes, which resulted in incorrect resolutions. These errors were causing the company to lose money and impacting their bottom line.

Finally, the manual process was causing delays in resolution, which was negatively impacting their customer relations. Customers were becoming frustrated with the slow response time and lack of resolution, which was causing some of them to take their business elsewhere.

After recognizing these issues, the Company decided to implement an automated dispute and deduction management system with iNymbus. The new system helped streamline the process, reducing the amount of time needed to manage disputes and deductions. It also helped reduce errors, resulting in more accurate resolutions.

The implementation of the new system also had a positive impact on the company's bottom line. By resolving disputes and deductions more quickly, they were able to improve cash flow and reduce write-offs and bad debts. Additionally, customers were pleased with the faster resolution times, improving their overall satisfaction with the company.

Overall, the Company's decision to implement an automated dispute and deduction management system proved to be a wise investment, improving their efficiency, accuracy, and customer satisfaction while reducing their costs and now their AR team no longer have to do manual work and they can work on more productive things now!

The benefits of automated dispute and deduction management are:

- Increased efficiency

- Lower labor costs

- Reduced likelihood of errors

- Improved customer satisfaction

- Reduction in labor costs

- Improved cash flow

- Reduction in write-offs and bad debts

However, with the help of technology and automation, businesses can streamline their dispute and automate deduction management processes and reduce costs while improving accuracy and efficiency. iNymbus’s Deduction eXchange is one such solution that provides an automated platform for managing deductions from major retailers such as Amazon, Walmart, Target, and many more. By automating the process, iNymbus helps businesses save time and money while ensuring accurate and timely resolution of disputes and deductions.