Deduction Recovery
Powered by HRG
Revenue Assurance
Woodridge Retail Group's deduction recovery solutions are powered by HRG, a pioneer in deductions, including compliance, promotional, allowances, and post-audit defense, as a few examples. Clients include some of the largest brands in every category across all the major retailers.
We also identify potential future deductions by auditing ahead of the retailers' cycles and providing best practice training.
Learn more.
Auditing
Best Practice Training
Consulting
We use our proprietary technology and years of experience to provide a comprehensive review of transactions to assist suppliers’ recovery of lost revenue in the supply chain and post-audit deductions.
We help suppliers understand the broader landscape at the larger retailers, including changes in the retail practices that cost suppliers money, how to prevent emails from misinterpreting, and binding suppliers to an unfavorable deal.
We provide consulting services for suppliers that include, but are not limited to, preparation of supplier agreements, proposals for deal presentations, and presentations to retailers for collecting funds due to suppliers.
"In the end, all business operations can be reduced to three words: people, product and profits."
- Lee Iacocca
Unleash Hidden Profits with Deduction Recovery
Woodridge Retail Group’s Deduction Recovery solutions play a crucial role in enhancing suppliers' profitability by addressing and recovering various deductions made by retailers. Here's how we can contribute to increasing your profitability:
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Deduction Identification and Analysis: The team thoroughly reviews and analyzes the retailers' deductions from the supplier's invoices. This includes scrutinizing chargebacks, discounts, allowances, and other deductions to ensure accuracy and validity.
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Dispute Resolution: Often, retailers make deductions due to errors, discrepancies, or misunderstandings. The recovery team engages with the retailer's accounts payable and purchasing departments to resolve disputes and rectify unjustified deductions. This process ensures that the supplier is not unfairly burdened with unnecessary costs.
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Process Improvement: The recovery team can identify patterns or trends indicative of internal or systemic issues by analyzing the reasons behind deductions. This information can guide process improvements within the supplier's operations to minimize future deductions and streamline business processes.
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Negotiation and Collaboration: The team establishes open lines of communication with retailers to negotiate better terms, clarify expectations, and collaborate on ways to minimize deductions. This proactive approach can result in mutually beneficial outcomes that improve both parties' profitability.
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Documentation and Compliance: A robust documentation process is essential to support the supplier's case during deduction disputes. The recovery team ensures that all relevant documentation, including invoices, contracts, and communication records, are organized and readily accessible to facilitate successful recovery efforts.
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Recovery Maximization: The primary goal of the recovery team is to recover as much of the deducted amount as possible. By diligently pursuing these recoveries, the team ensures that the supplier is reimbursed for any valid deductions, directly boosting the supplier's bottom line.
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Financial Accuracy: By reducing errors and inaccuracies in billing, invoicing, and order fulfillment, the recovery team contributes to the supplier's financial accuracy. This prevents revenue leakage caused by incorrect deductions and improves overall financial health.
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Relationship Building: Effective communication and dispute resolution efforts build stronger relationships between suppliers and retailers. A positive relationship can lead to increased collaboration, better terms, and more favorable business opportunities, ultimately benefiting the supplier's profitability.
In summary, Woodridge Retail Group’s Deduction Recovery solutions aid suppliers in increasing profitability by rectifying unjustified deductions, improving processes, negotiating effectively, and fostering better collaboration with retailers. Our efforts reduce financial losses and enhance the supplier's overall financial performance.
Woodridge Retail Group’s solutions are powered by HRG, a pioneer in deduction recovery – including compliance, promotional, allowances, and post-audit defense, as a few examples. Clients include some of the largest brands in every category across all the major retailers.
Over a billion dollars recovered and counting. What are you waiting for? Let’s talk.