Over 85 percent of organizations are losing money due to an ineffective RTV (return to vendor) strategy, with some larger companies losing up to $500K or more each year.
While the problem has always been acknowledged and understood, Belmero Inc.’s ‘Return To Vendor Managed Service’ is the first to address the common causes and frustrations of RTV processes.
At present, many organizations do not have a central group that oversees and coordinates the problem, resulting in them having no way to analyze their internal process. As a result, vendor return instructions are improperly followed, and organizations are not receiving a considerable amount of credits that are owed to them.
For these reasons, Belmero launched its cost-effective ‘RTV managed service’ to act as the central hub, entering data, managing information and coordinating the process on behalf of the company, saving vital labor costs and time. The service is focused on making sure an organization receives all of the credits that they deserve.
A ‘vendor return help desk’ gives users a point of contact, with Belmero staff entering key return information from the user into the central system. Once this is received, Belmero contacts the vendor for approval and if approved, acquires a return authorization number and instructions. Belmero then contacts the vendor and requests the return with the authorization number, and updates the return in the ERP software, along with any relevant tracking information.
In many cases, returns are not being processed in the inventory correctly, so Belmero monitors the vendor return inventory disposition, identifying ageing RTVs, and liaising with the inventory team. This allows better control and accuracy to be implemented.
Belmero’s RTV service also monitors debit memo creation, providing end-to-end visibility, and ensuring they make it to accounts payable.
As well as everyday benefits for organizations, Belmero can also provide vital intelligence that could enable more efficient business practices and allow forecasting and planning to be more accurate. Notably, short-term information such as return lines and amounts history, returns by supplier, and returns by reason codes are all extremely useful.
Belmero’s RTV service is a complete and comprehensive solution that enables organizations to have end to end visibility of the financials around vendor returns while also realizing more efficient systems & processes. The result for the organization is complete & accurate visibility to vendor returns, ultimately allowing credits to come back to the organization, increasing bottom line.
Belmero offers a 90-day money back guarantee. Find out more by logging on to www.belmero.com
Company Name: Belmero, Inc.
Contact Person: Robert Belknap Jr.
Phone: 612-276-5737 x2
Country: United States