Newest AFS Trade Promotion Management Foodservice Release Continues to Increase Productivity in Managing Trade Spend
Phoenix, AZ. – April 4, 2016 – AFS Technologies, a leading global provider of software solutions purpose-built for consumer goods companies, today announced the release of its upgraded AFS™ Trade Promotion Management Foodservice (TPM Foodservice). The latest release helps foodservice manufacturers drive greater value from their operators with an innovative micro-focused strategy for coupon redemption and a proactive approach for managing tax compliance. The new release also offers enhanced functionality that will enable more efficient trade spend management with fewer resources.
TPM Foodservice has been supporting Operator “Street Coupon” through Fixed Rate or Buy-One-Get-One promotions for the past few years. The newly launched Operator Coupon Portal complements this functionality by providing a Web application for operators to download and redeem coupons. Operators can also track their payments through their own personal accounts and can receive email payment status notifications.
The portal is a strategic tool for foodservice manufacturers. It gives them more visibility into individual coupon redemption and reconciliation so they understand which coupons are high performers and determine which coupon strategy should be continued or repeated. Additionally, the robust built-in reporting capabilities enable the manufacturer to extrapolate the data to analyze trends at the regional and operator level. The portal also includes reports to gain insights into coupon investments along with incorporating operator coupon data.
Coupon management in the foodservice industry poses potential issues with income tax compliancy and reporting to the IRS. This new portal takes preventative steps by requiring the operator to provide a tax ID and W-9 form during registration, which is validated in real-time. This streamlines the process for managing 1099s and eliminating potential government penalties.
This release highlights AFS’ continued focus in delivering automation to better enable our customers to manage their contracts and reconcile their deductions. New and enhanced features include the following:
- New functionality in the manufacturer settings allow TPM administrators to enable auto-renewals and reset contract estimated volume. Auto-renewal enables a user to define criteria that will be used to identify annual contracts that can be renewed automatically. There is also the ability to automatically reset the estimated volume of a defined product or category that has no reported volume—which eliminates the need to continuously amend contracts that can impact budgets and month-end/year-end accrual reporting.
- Administrators can now easily re-assign operators to the correct node in their organization hierarchy from the home dashboard enabling accurate data reporting.
- New enhancements to increase productivity:
- Be more efficient with the “Add Product” expansion screen in our uClaim module.
- Analyze trade spend trends over a 24-month period with our updated Settlement, Pending and Deductions Graphs
- Reduce data entry time with pre-populated data fields from the deduction feed, including customer (claimant), invoice number and amount requested.
“This release exemplifies AFS’ deep connection and understanding of the changing dynamics of the foodservice manufacturing industry. As a true partner to our clients we focus on supporting new trends such as operator coupons while also driving to increase productivity where margins are traditionally thin. This is what we refer to as being purpose-built. When we host our annual user conference this week, we’ll be highlighting these new capabilities,” said Richard Nicholas, CEO of AFS Technologies.
We will be unveiling the new release for AFS TPM Foodservice during the AFS 2016 User Conference in Phoenix, Ariz., from April 6-8, 2016. View the user conference agenda.
About AFS Technologies
AFS Technologies (AFS) is the leading provider of software solutions purpose-built for consumer goods companies. We are committed to generating improved outcomes at the point of purchase coupled with generating efficiencies in trade spend, retail execution and supply chain. With experience developed over its 30-year history, AFS serves more than 1,300 customers of all sizes in more than 50 countries around the world. The AFS products are innovative, configurable solutions that are proven to optimize your potential with automated processes, improved productivity and rapid time to value.
To learn more about AFS, visit www.afsi.com.