Are You Claiming Rebates
for Undelivered Services?
Did you know on average Verified’s clients have been able to reclaim rebates at 20% of contract values (with some recovering up to 40%). Businesses can face significant hurdles when trying to claim rebates for undelivered services. Insufficient evidence to support claims can cause significant, ongoing financial and operational loss.
Rebate Reporting – The Consequences of Manual Processes & Insufficient Evidence
Most companies assume there is 100% of service delivery, honouring the full contract value over the contract period. Often however, due to resourcing and skills shortages, even the best contractors often only achieve ~93% of a contract’s preventative maintenance deliverables.
The process of manually tracking services against contractual agreements typically involves sifting through piles of paperwork, emails, and disparate digital records. This approach is not only time-consuming but also susceptible to human error. Manual approaches lead to inefficiencies resulting in incomplete services and unclaimed rebates, essentially leaving money on the table.
Whilst rebate opportunities are identified and available to a business, customers often find themselves in a difficult position to negotiate rebates for undelivered services due to their lack of visibility and data. The end result is financial overpayment and failure to adhere to safety and regulatory standards for site and facilities.
The Impact of a Data Driven Approach
Our recent case study best demonstrates the impact of a technology-enabled, data driven approach to rebate reporting and claims. A leading retailer was facing challenges in reconciling the significant performance gap between contracted maintenance tasks and actual service delivery.
In order to gain visibility of site attendance and compliance, the client implemented Verified’s Contractor Management module, facilitating the transformation of their reporting. This provided the business enough detail and data to seek rebates on services completed outside of tolerance or missed altogether. By leveraging Verified’s capability to generate comprehensive and accurate performance reports, the company moved to a streamlined and automated system.
Within a month of implementation, the retailer recovered costs for undelivered services, securing a total of 40% savings annually on their contracts. Using Verified, they were able to use unequivocal proof to claim rebates for undelivered services, achieving substantial ongoing savings.
Achieving Greater Accuracy & Transparency
Reliable and trustworthy reporting provides clients with undeniable evidence for rebates when negotiating with third parties and contractors. Rebate reports easily detail every aspect of service delivery including compliance with relevant standards or regulations, dates, tolerances, frequency, and compliance with contracts. Verified’s accurate rebate reports ensure site transparency and contractor accountability whilst seamlessly enabling the recovery of costs related to undelivered services.
Did you know on average Verified’s clients have been able to reclaim rebates at 20% of contract values (with some recovering up to 40%). The Verified platform continues to not only facilitate, speed up and accurately quantify rebate claims but also significantly improve compliance and service delivery standards across organisations.
Businesses looking to overcome the challenge of insufficient evidence or manual processes will find Verified’s rebate functionality invaluable. The platform streamlines the process and serves as a comprehensive, evidenced base, ‘source of truth’ for rebate negotiations. Schedule a demo today and discover how Verified can streamline your rebate reporting process.