Retail, CPG and Logistics
Business-Process-as-a-Service (BPaaS) = (IT+BPM) is the way forward for trade promotion management
In today’s fast-changing world with technology evolving at a faster pace, CPG organizations need to re-think their strategies to manage their trade promotions effectively efficiently and to have a positive impact on the experience of both internal and external stakeholders in every possible interactions. A well-integrated Trade Promotions Management (TPM) system with comprehensive “Information Technology (IT) and business process management (BPM) called “BPaaS” combined solution can help organizations streamline business processes to have a positive impact on the bottom line.
BPaaS model will provide an integrated, end-to-end view of trade promotions from trade planning and promotion execution to trade financial management and post-event analytics. The integrated solution will give CPG organizations the ability to track and manage trade promotion management-related activities such as promotion entries in ERP, managing price increases, discounts, credit limit management, accruals, trade deductions management etc., across multiple channels and retailers. It would also provide a centralized team and a platform for tracking and analyzing the promotion performance in real-time. This provides insights for informed decision-making and will result in improved promotional performance and maximized return on investments.
Some of the benefits of the BPaaS-integrated TPM model are:
- Enhanced efficiencies: An integrated BPaaS model with embedded IT helps in automating many admin-related activities in managing trade promotions such as promotion entry, contract management, and streamlined approvals, that are manual in nature, resulting in significant time savings. This increased efficiency allows companies to focus on strategic tasks and make better use of their resources.
- Improved Data Management: An integrated TPM system provides real-time access to accurate and complete data from various systems and disparate tools, thus enabling companies to make quicker and more informed decisions that would result in promotions with intended ROI.
- Improved Collaboration: An integrated TPM system will allow organizations to centralize the IT+BPM activities and have a centralized platform for collaboration and communication; this results in improved coordination and better alignment of trade promotion processes among different functions like Sales, Finance, and Supply Chain, as well as with Retailers.
- Establish and Improve Visibility: The TPM platform with an ability to provide a comprehensive view of trade promotion activities, including spend, performance, and ROI, will enable organizations to make data-driven decisions and course-correct their trade promotions tactics accordingly.
- Better Customer Experience: An integrated TPM system helps companies arrive at trade conditions that are in line with past performance and top them up with analytics and retailers’ feedback and inputs to deliver better customer experiences.
An integrated BPaaS TPM model offers many benefits to CPG organizations looking to transform their trade promotions processes. By streamlining processes, improving data management, and providing better visibility, an integrated TPM system can help companies improve their bottom line and deliver better customer experiences.
It is evident that an integrated TPM system is the future of trade promotion management as the industry continues to evolve and change. It is important for CPG organizations to stay ahead of the curve by continuously reviewing and improving their TPM processes.
How can Infosys BPM help?
Infosys BPM with CPG outsourcing has helped its CPG clients recognize and attain the objectives of an ideal TPM business and IT processes. Our comprehensive TPM services include business process advisory and consulting services, TPM managed services, TPM technology/platform advisory, consulting, and implementation services, along with data and analytics advisory.