In today’s networked economy, relationships with partners are more critical than every before to a business’s success. The difference between good and bad partner relationships can mean the difference in success and failure. Enterprises have spent billions of dollars on managing their own data. But internal systems are not sufficient by themselves to manage complex relationships with partners. Technology and communications capabilities will lead to even more partnerships and business collaboration in the future, and forward-looking organizations are looking for solutions to help them integrate and manage the financial processes that drive partner relationships – complex contracts and revenues-sharing scenarios unheard of even a few years ago. When shopping for partner solutions, organizations must ask the same questions that govern any IT purchase: Does the solution meet my needs? Can it be deployed quickly? Will it integrate with my existing IT infrastructure? And as my business and partnerships grow and change, can the solution keep pace?
The Partner Settlement Software Solution
The LiveApp Solution for Partner Settlement enables companies to succeed in the new connected economy. The Solution delivers business agility by enabling you to manage thousands of unique partner contracts that generate millions of transactions a day and handle the many data feeds that automatically settle contractual agreements.
Companies with large partner networks use LiveApp Solution for Partner Settlement to manage complexities of financial relationships with partners that include:
Whether internal or external, the resolution of conflicts is where the majority of time in partner settlement is spent. Exceptions are often the most costly and time-consuming tasks in a company’s partner programs. LiveApp Solution for Partner Settlement automatically handles exceptions and automatically reprocesses all transactions affected by the modified or cancelled record. The Solution includes a complete audit trail back to the data source, a Web interface, and even reports information to the partner on why an incentive was not met.
LiveApp Solution for Partner Settlement organizes, processes, calculates, reconciles, facilitates payments and receipts, and provides output payment files and reports. The Solution extends your organization’s infrastructure by typically serving as a subsidiary ledger to a company’s installed financial system.
As with all LiveApp Solutions, Partner Settlement can grow and evolve along with your organization and partnerships. Eighty percent of modifications to the solution can be through an administrative interface by business users rather than IT staff, putting control of the solution’s growth into the hands of those that best understand your changing business needs – and those of your partners.