Up to 8% of Top Line Revenue Is Lost to Chargebacks: How Syncrofy’s New Compliance Solution Puts a Stop to That For Customers & SuppliersBy: Pasquale Gatti | August 19th, 2022
Today we announced the official release of the Syncrofy Compliance solution, a module of Syncrofy, our market-leading, multi-enterprise data platform.
Syncrofy works with existing applications to enable transparency, intelligence, and automation across a company’s supply chain network.
Today, organizations are fighting against a number of supply chain and logistical issues in a chaotic B2B landscape. Those who are unable to hold their suppliers accountable risk lost sales, process delays, and increased shipping costs. Conversely, suppliers need to have a way to dispute inaccurate chargebacks, challenge them, and recoup profits–while ensuring their business doesn’t miss a beat.
No matter the side of the supply chain, Syncrofy Compliance is the ultimate tool to ensure everyone stays on the same page, collaborates effectively, and achieves financial success.
Work With Your Partners, Not Against Them
With Syncrofy Compliance, companies can accelerate decision‑making with faster, easier, and more detailed visibility into mission‑critical supply chain data—even between their disparate partners, systems, and departments. The Syncrofy Compliance solution’s powerful features enables teams to:
- Minimize late payments, chargebacks, revenue leakage, and other waste points built into supply chain systems
- Create vendor scorecards on key metrics to compare suppliers on fill rate, lead time, errors and delays
- Manage customer or supplier compliance programs for ASN, OTIF, UCC, POA response and expiration
- Achieve four-way matching to identify quantity and price discrepancies
“In talking with customers and conducting our own research, we’re seeing more compliance teams turn to technology to help improve decision-making and manage risk,” said Mahesh Nandyala, Chief Product Office at CoEnterprise. “With Syncrofy Compliance, we’ve built an intuitive solution that will help both customers and suppliers resolve issues quickly and effectively so they can work towards achieving the perfect order.”
Syncrofy Compliance can help customers achieve:
- 50% reduction in overall supply chain costs
- 20% reduction in procurement costs
- 10% increase in revenue
Not Your Average Compliance Solution
The Syncrofy Compliance solution is different from other tools on the market because it can handle all EDI data (other solutions require multiple systems such as ERP, vendor portal, etc.). It also has several unique features, including:
- Dynamic dashboards to monitor & track compliance initiatives
- Chargeback management, a collaborative tool allowing seamless claim management across the entire trading partner network
- 10 configurable rules including on-time shipment/delivery, in-full delivery, data quality, and rejected shipments
- Customizable notifications to identify and proactively manage supply chain disruptions
Master Your Compliance With An Intuitive Supply Chain Platform
Syncrofy provides non-technical users with full supply chain visibility and actionable insights from day one—no need to configure, map, or develop a specialized data warehouse. With Syncrofy and the Compliance Solution by your side, you’ll be able to:
- Calculate fill rate and lead time for orders and shipments
- Save money by minimizing supply chain waste points
- Reconcile invoices against POs, shipment documentation, and receipts to identify quantity and price discrepancies
- Monitor and compare suppliers on KPIs to improve fulfillment accuracy and prevent stockouts
- Easily manage customer and supplier compliance programs
- Make smarter, better-informed decisions when it comes to your supply chain
Syncrofy already helps many Fortune 100 companies and SMBs across various industries and verticals see and analyze their data while improving their supply chain operations and processes. Syncrofy’s Compliance solution extends the value of Syncrofy by providing critical business insights across the supply chain for compliance teams.
To explore how Syncrofy Compliance can help your compliance program today, or to sign up for a complimentary demo, click here.
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