As a foodservice manufacturer, you probably have either trade promotion software or a homegrown process of managing your foodservice trade spending. If you are a manufacturer with foodservice brokers, you may also pay broker commissions. The question is: does your trade promotion software or process allow you to easily manage and process those broker commissions?
Foodservice brokers can be great partners for your organization because they have a lot of resources and connections at their fingertips. They also have specific expertise in select retail or segments of foodservice. Additionally, they have market coverage with cost efficiency since they typically represent multiple manufacturers. So, it’s important to understand the benefits your brokers offer since you’ll be paying them a commission.
What exactly are broker commissions? Broker commissions are monies paid to the broker based on a percentage for products sold. Brokers work hard for your business so it’s important to ensure you have a good broker commission calculation process set up.
The GoSimple™ foodservice trade promotion management platform offers the ability to track and process broker commissions in an easy and automated process. How does it work?
- Create a contract for your broker listing the products, distributors, and percentage to be paid
- Send your sales data to GoSimple via a data feed
- GoSimple loads your sales data into the system
- GoSimple will bump up your broker commission contract against your sales data and calculate the amount to be paid to the broker based on the broker commission contract
- Need exclusions from paid invoices? No problem. The GoSimple trade promotion management solution can back out the items from the total calculated amount.
- Have the process run at specific times each month to automate the process
- Automatically issue check to the to the foodservice broker
- Detailed reporting by broker/distributor/product/month
Don’t handle broker commissions in a separate tool from your trade promotion management software. Keep it all in one place. Manage your contracts, claims, deduction balances, earned income, growth payments, and broker commission payments in one single tool with GoSimple. All of this data is related so why would you have separate systems to handle them? Luckily, you don’t have to with GoSimple! Request your demo today!