Claims from retailers and shippers are becoming an increasing issue for consumer packaged goods manufacturers and distributors. As retailers get more automated and sophisticated, they are able to take rapid-fire claims, such as shortages, chargebacks, returns, and pricing, against manufacturers creating enormous paperwork and processing problems, and cutting into hard won revenue.
iNymbus provides an automation of accounts receivable solution that eliminates manual retailer and shipper claims processing for manufacturers, suppliers, and distributors. iNymbus uses cloud robotic process automation and AI to automatically read retailer portals, gathering and preparing necessary claims paperwork, packaging claims, and uploading the claim packets to vendor portals.
1. Automated Document Retrieval
Whether it's in a portal, EDI, or even email, iNymbus efficiently gathers all claim documentation automatically.
Seamlessly organize all claim documentation per audit or retailer requirements.
Provide business partners with instant access to claim documentation.
Upload denied claim packets to vendor portals or send via automatic emails, fax, or print and mail.
- FEATURES OF INYMBUS AR DEDUCTIONS SOFTWARE
- Laser-focused on retailer and shipper claims, with an overarching goal of processing them quickly and efficiently with limited human interaction.
- Cloud data storage combined with robotic automation applies the latest technology and thought leadership to retail deductions and chargeback processing problems.
- iNymbus can take in any type of data input– PDF, data files, extracts from receivable systems, vendor portals, Excel files — and manipulate the claim data into the format required by individual retail portals.
- iNymbus onboarding is personalized for each company and their claims needs, as no two companies have exactly the same processing situation.
- BENEFITS OF ACCOUNTS RECEIVABLE AUTOMATION
- A reduction in claims processing costs by over 80%.
- The speed of processing claims will be increased by an astounding amount. What previously took a clerk over a week to process, will be handled in an hour (30X processing speed increase).
- Days Deductions Outstanding (DDO) will be reduced by 30% to 50% depending upon how behind the manufacturer has gotten in processing claims.
- Invalid claims caused by processing problems will be eliminated. Many companies report seeing a 10% increase in claims recovery rate.
- Retail portals will continue to change and with new requirements for processing, as much as quarterly. iNymbus evolves and learns constantly, and continues to modify its own processes, eliminating the need for manufacturers to stay abreast of retailer and shipper requirements in the claims arena.
- The company’s I.T. department is not needed assist with data manipulation and processing. Once private data exchanges are set up, the iNymbus process can run on its own with no human intervention, constantly culling necessary documentation, creating claim packets and submitting claims upon the company’s behalf.
- iNymbus automatically scales up and scales down with the amount of volume in claims incurred by the company. Seasonality creates absolutely no impact.
- The Collections team can actually work on exceptions and resolve real business process issues, rather than managing paperwork created by onerous claims processing requirements from retailers.
- iNymbus can work with any retailers including Walmart, Amazon, Bed Bath & Beyond, Target, Kohl’s, J.C. Penny, Fedex, UPS and many more.