Uploaded on Jun 25, 2024
iNymbus is a tech company that offers automated solution for financial operations, helping finance teams work more efficiently and Data-driven decisions.
Kohls
Deduction: Automate Disputing with iNymbus Kohl’s Deduction: Automate Disputing Kohl's is one of the leading retail chains in America, with more than 65 million customers and 1,100 stores in 49 states. It provides great opportunities for expanding business. However, these opportunities come at a cost. As a vendor or supplier, dealing with deductions and chargebacks is an inevitable part of the retail business. Unresolved deductions can pose challenges in maintaining healthy accounts receivable and cash flow. Businesses have tried numerous deduction management systems to tackle deductions, from outsourcing deduction automation to hiring a large number of employees. It still remains a problem for a lot of suppliers, especially for those who deal with multiple medium-sized retailers like Kohl's. In this article, we will dive deep into various ways suppliers deal with deductions, benefits, and drawbacks of each one of them, and we'll discuss if this process of disputing Kohl's deductions can be automated. Copyright © 2024 iNymbus.All rights reserved. 2 Kohl’s Deduction: Automate Disputing Traditional Method of Disputing Kohl’s Chargebacks : Vendors traditionally dispute Kohl's claims manually through the Traverse portal, which allows them to track as well as dispute deductions. The portal provides suppliers with these tools: View vendor compliance charge information File Vendor compliance chargeback disputes View photos and other supporting chargeback data Upload documents or image files for disputes View the status of disputes There are numerous problems with disputing deductions manually, one of them being locating the invoices with deductions. Managing deductions from multiple retailers makes this process even more challenging, as analysts must remember how each portal works. Copyright © 2024 iNymbus.All rights reserved. 3 Kohl’s Deduction: Automate Disputing How To Navigate On The Traverse Portal To Find Invoice With Dedutions: Access the Click on Head to "Vendor Tools" Traverse portal. “Find Charges” in the right and select the navigation menu. date range. You will now have a list of invoices with deductions, each of them tagged with a deduction code. Unlike other retailers who directly provide descriptions for a deduction, one needs to interpret Kohl's deduction code, making the process of disputing even more complicated. It is crucial to have a deep understanding of these codes, as what documents to submit depends on which code is issued. Copyright © 2024 iNymbus.All rights reserved. 4 Kohl’s Deduction: Automate Disputing Common Kohl's Deduction Codes: • ASN11 • ASN12 • PG01 • PG03 Dispute Deductions on Traverse Portal: Navigate to 01 STEP “Create Disputes” 01 to initiate dispute resolution 02 Fill in the STEP Upload supporting 03 chargeback STEP docs in the 02 details. 03 "Attachments" section. 04 Click STEP "Submit" to 04 file the dispute. Copyright © 2024 iNymbus.All rights reserved. 5 Kohl’s Deduction: Automate Disputing What is Wrong With The Traditional Method While Kohl's Traverse portal provides tools for deduction management, vendors face major obstacles using traditional manual methods for processing deductions and resolving disputes. Processing deductions and resolving disputes manually is time-consuming and resource-heavy. Vendors spend too much time on identifying deductions and deduction resolution, which slows things down and leaves fewer resources for growing the business. Vendors dealing with deductions from different retailers, like Kohl's and others, face a heavy workload. Each retailer has its own rules and processes for deductions, making it harder to manage. Handling deductions from many retailers makes it even tougher to deal with claims and solve disputes, leading to more mistakes and missed issues during resolution. Copyright © 2024 iNymbus.All rights reserved. 6 Kohl’s Deduction: Automate Disputing How iNymbus Automates Kohl’s Claims What if I told you that you can automate this whole process end-to-end? Not only that, you can automate disputing deductions from 25+ retailers. YES, you heard it right. iNymbus can be your one-stop deduction management software. Our automation software uses cutting-edge RPA technology to increase efficiency and reduce the cost of claims management. We even provide advanced claim data so that suppliers can find where the claims are coming from in the first place. In the market, there are various claim management software options, but what sets us apart is our ability to support over 25 retailers and to readily add more at customers' requests. Click to Learn More How iNymbus Supports 25+ Retailers. Copyright © 2024 iNymbus.All rights reserved. 7 Kohl’s Deduction: Automate Disputing Here is how we helped a giant supplier with $2 Billion in annual revenue tackle deductions from over 20 retailers. We support not only retail giants like Amazon and Walmart but also medium-sized retailers like Nordstrom and Ulta that do email disputing. Copyright © 2024 iNymbus.All rights reserved. 8
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