IMARK Plumbing reinforced its commitment to members and suppliers on February 1 by providing a significant software update, delivering powerful data analytics with the release of the IMARK Plumbing Dashboard 2.0.
Dashboard 2.0 focuses on the members’ ability to track purchases by supplier and easily identify opportunities to convert purchases to the IMARK supplier partners. It also provides IMARK suppliers targeted opportunities for market share increases and additional revenue from members.
Improved User Experience
The dashboard is configured to help you drill down into each area to view more detailed information. Navigation is simple—all you need to do is click on the tile and it will present you with the next level of detail. At the top left-hand side of each dashboard will be the “breadcrumbs” of your journey, which make it easy to go back to the previous screen or any other previous screen including the home page.
As a member or supplier, the first thing you will notice is the clean, modular look. You will have 4-6 main tiles that will lead you to: My Dashboard, Rebate Management, User Management and Category Management modules. Once you are in My Dashboard, the Financial Health module is where you will find all your purchases by supplier, the overall rebates for each of the rebate program types and how close you are to achieving the next tier in a growth program. Rebate management is one of the places you will see the entire supplier rebate library and each of their individual rebate programs.
The User Management module will allow you to see who has access to your Dashboard within your individual company. Users will continue to be controlled by the IMARK SSO portal access. Category Management and Supplier Management are where you can map your product categories to the standardized categories to ensure that the product conversion opportunity, IMARK Plumbing’s proprietary AI/ML algorithm, is properly categorizing your individual products to the universal product hierarchy.
The new tile format will also allow you to view your dashboards on your mobile device or tablet. Each tile will automatically adjust to the device you are using. You must still login through the IMARK portal for security.
Key Takeaways:
- Track purchases and rebate earnings.
- Easy to use, “one click” drill down for more details.
- Access from the IMARK portal.
- Map your “in-house” product categories to the “universal” product categories for more accurate product conversion opportunities.
- Mobile and tablet accessible.
Maximizing Your ROI on Purchases
The top two asks from members over the past five years have been: “Where can I see how much I need to buy to achieve the next tier” and “Which suppliers should I buy from to maximize my rebate for the year?”
Introducing Rebate Optimization for the members:
Within the Rebate Optimization section, you can see how your earnings compare to previous years, drill down into the different rebate types (Base, Growth and Gain Share) that provide the greatest ROI on your future purchases. Members will be able to filter the highest ROI rebate programs to easily determine how much you need to buy to attain the next rebate tier.
All the rebate programs with the highest ROI are “one click” away from all the program details like the basic program information, product inclusions/exclusions, how the rebate is calculated, special conditions and how much you need to purchase along with the rebate you will earn. No more leaving rebates on the table because you were a few dollars short of achieving the next tier!
Missed Opportunity Conversion gives members alternatives for purchasing related goods and earning rebates from IMARK suppliers. For example, if a distributor buys $50,000 worth of fittings from a manufacturer outside the buying group, an IMARK supplier may provide a 4% rebate on fittings. If the fittings are converted to the IMARK supplier, this translates into $2,000 in rebate earnings for the member and $50,000 additional revenue for the IMARK supplier at the end of the year, which was previously overlooked.
Key Takeaways:
Members:
- Priority given to IMARK supplier rebate programs offering the best ROI.
- All rebate program details in one place—terms, products and exclusions.
- Specific product conversion opportunities to IMARK suppliers.
IMARK Suppliers:
- Buyers will be motivated to buy more to attain the next rebate tier.
- All IMARK suppliers are represented; suppliers with the highest ROI are highlighted.
- Buyers have a clear understanding of product inclusions/exclusions and rebate program details.
Data Security and Transfers
As a responsible organization offering rebate management software that deals with data and analytics, we recognize the importance of ensuring data security. At Tredence, we ensure adherence to all applicable data loss protection regulations, established data management guidelines and privacy policies. In addition, we ensure appropriate organizational and technical measures in our rebate management system to protect your data against unlawful or unauthorized processing and/or against alteration, accidental loss, disclosure or access or unlawful destruction of or damage.
Information Security Management System (ISMS) ISO 27001:2013 Certification SOC2: Type 2 attestation
We have completed the American Institute of Certified Public Accountants Trust Services Criteria for internal controls relevant to security, availability, processing integrity and confidentiality.
Facilitating Business Growth
The dashboards ensure business goals are clearly identified and communicated between suppliers and members. Rebates offered to members help drive increased rebate earnings and supplier revenue growth. This means you can seamlessly tap into business opportunities, power mutual growth and reach revenue targets.
Fact: Suppliers sell 21% more and members earn 25% more when actively using The Dashboard – statistics from 2022/Rebate.ai
IMARK supplier dashboard displaying current purchasing trends by member for each rebate programs offered:
Improving Efficiency and Building Trust and Loyalty
When suppliers and members work with a single source of truth, the entire rebate management process becomes more efficient and accurate. It allows everyone to review deals, track payments and monitor programs and procedures in a single pane view. This capability improves transparency and visibility, winning the trust of all members and suppliers.
Managing Trading Partner Relationships
The IMARK Plumbing group handles hundreds of rebate programs, each corresponding with more than 150 different IMARK suppliers.
Dashboard 2.0 provides accessibility to all supplier rebate programs in detail. The rebate library is a great source for all IMARK supplier rebate programs available to the members. It also provides contextual insights based on historical data and rebate attainment performance. With such real-time data inputs, you can indulge in productive discussions between members and IMARK suppliers such that everyone’s investments get rewarded with maximized rebate earnings and increased revenue.
Providing Data Quality Management
Our AI-powered rebate management system leverages data to offer business and revenue benefits. Functionalities like data cleansing, validation and enrichment curate the massive volume of rebate data. It equips all users with clean, trustworthy data that empowers them with actionable insights to boost their decision-making intelligence.
Providing Equal Growth Opportunities for All
One of the unique capabilities of the dashboards—they are an equal opportunity provider for members and IMARK suppliers.
As a distributor member, for your convenience, our interactive dashboard maps all purchases made to each supplier’s growth rebate programs to track the achievement of each tier threshold by clearly identifying the ROI on your future purchases. This helps you identify relevant opportunities and converse with potential suppliers to strike rewarding deals supporting mutually beneficial market share gains.
If you are an IMARK supplier, your customized dashboard provides you with a hunting list comprising the top members who purchase products from competitors outside of the group. You can target these conversion opportunities for increased revenue, true market share gains, and provide the highest return on your sales expense.
Dashboard 2.0 is IMARK Plumbing’s commitment to bringing “world-class” multi-dimensional intelligence and clarity to the complex ecosystem of rebates providing a competitive edge for all IMARK members and IMARK suppliers.
For more information, visit: Rebate.ai.
Steve Zingsheim
Steve Zingsheim is the co-founder of Rebate.ai. He is deeply rooted in the commercial building product markets with a keen understanding of how the markets work, sales and marketing in B2B commercial environments and using data to provide insights into improving pricing and rebate revenue for distributors and suppliers. His early working career was in foodservice distribution, and he was an executive at a premier plumbing fixture, Division 10 Manufacturers, for nearly 20 years and has been improving how companies make data actionable for 10 years. He can be reached at steven.zingsheim@tredence.com. For more information, visit www.tredence.com or www.rebate.ai