Tibersoft has long been known for its exceptional audit capabilities, assisting clients in identifying, preventing, and reclaiming duplicate charges on their trade claims. Today, Tibersoft has expanded its reach, launching a specialized solution designed specifically for manufacturers managing trade claims in the K-12 segment.
The K-12 market is unique in the sense that the trade process is bid-based. School districts or large purchasing cooperatives issue bid requests for products, to which manufacturers respond. Once the bids are reviewed, an “award letter,” such as those provided by Interflex, is dispatched to the winning manufacturer. While this process seems straightforward, complexities emerge as products make their way through supply chain intermediaries and trade claims come into play. In a market where margins are razor thin, it’s critically important to make every trade dollar count, and to ensure that none of it gets lost to double dips.
Often, when a school (that’s part of a district or purchasing co-op) places an order, linking that school to the entity to which it belongs can be a challenge. Thanks to strategic enhancements in the Tibersoft OPTRADE database, which offers location-level visibility, such connections can now be effortlessly established. Moreover, the award letter plays a pivotal role in the trade claim process for schools. It serves as a reference point, ensuring trade claims are valid, and helps to spot, prevent, and recover double dips.
In one case, Tibersoft’s K-12 solution enabled one manufacturer to identify that 17% of a single trade claim source over a 90-day span was invalid and should not have been claimed. This discovery translated to substantial trade savings, which fall directly to the bottom line. Considering the magnitude of the K-12 market – with over 44 million meals served daily in US schools – it’s evident why this sector is paramount for our clients and manufacturers serving this demographic.
How has Tibersoft achieved this?
With the recent investment in Oracle cloud infrastructure, Tibersoft is able to provide niche focused solutions, such as the one for K-12, that were not previously available. The combination of design flexibility coupled with the existing OPTRADE database allows for cost-effective solutions with a fast turnaround time, which means faster ROI on projects for our customers.
“Staying current with our technology partners is a critical part of being able to offer flexible, fast and customized solutions like this one,” commented Chris Hart, VP of Operations at Tibersoft.
To explore how Tibersoft can revolutionize your K12 trade claims process, contact us for a free consultation.