SAN MATEO, Calif. – March 16, 2010– DemandTec, Inc. (NASDAQ: DMAN), a leading provider of on-demand optimization solutions for retailers and consumer products manufacturers, today announced the launch of Allowance Billing, a new software service that builds on the capabilities of DemandTec’s Deal Management software service on the DemandTec TradePoint Network. Allowance Billing creates new efficiencies by automating and simplifying the invoicing and collection of trade funds between retailers and their consumer products manufacturer trading partners.
One of the major hurdles in effectively managing the trade funds process is the need to manually enter trade promotion data multiple times, from multiple systems, making it difficult for retailers to produce invoices for trade funds that are timely, accurate and complete. DemandTec’s Allowance Billing service automatically compiles all trade fund data together in a single, automated system enabling retailers to create invoices and accruals based on negotiated deal terms and transaction data in the Deal Management software service.
“While trade promotion dollars help drive significant retailer profit, invoicing for those funds continues to be a slow, inefficient and manual process,” said Derek Smith, Vice President of Retail Industry Marketing at DemandTec. “Allowance Billing enables retailers to produce invoices for trade funds and reduce the time consuming manual processes that have plagued the industry for years.”
With Allowance Billing, DemandTec’s retail customers can:
- Create invoices and accruals automatically based on deal terms and transaction data in Deal Management
- Reduce errors by eliminating the need to enter data multiple times
- Streamline the invoicing process and create accountability with workflow management
- Monitor transactional details to ensure all allowable funds are billed
- Distribute invoices electronically to manufacturers Allowance Billing and Deal Management are components of the DemandTec End-to-End Promotion Management™ solution, a comprehensive suite of software services on the DemandTec TradePoint Network that enable retailers and manufacturers to plan, optimize, and execute trade promotions and other targeted marketing programs
The DemandTec TradePoint Network is the Internet-based platform connecting all DemandTec software services and is used by retailers and their suppliers to collaborate on pricing, promotion, assortment, and other decisions. There are approximately 10,000 retailer and manufacturer end-users on the DemandTec TradePoint Network, who have collaborated on over 3 million trade deals to date.
Allowance Billing will be generally available as part of DemandTec’s quarterly software release planned for April 2010.
DemandTec (NASDAQ: DMAN) enables retailers and consumer products companies to optimize merchandising and marketing decisions, individually or collaboratively, to achieve their sales volume, revenue and profitability objectives. DemandTec software services utilize DemandTec`s science-based software platform to model and understand consumer behavior. DemandTec customers include more than 195 leading retailers and consumer products manufacturers such as Ahold USA, Best Buy, ConAgra Foods, Delhaize America, General Mills, H-E-B Grocery Co., Hormel Foods, Monoprix, PETCO, Safeway, Sara Lee, The Home Depot, Walmart and WH Smith. Connected via the DemandTec TradePoint Network™, DemandTec customers have collaborated online with over 3 million trade deals.
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This press release contains forward-looking statements regarding DemandTec`s expectations, hopes, plans, intentions or strategies, including statements about the benefits of DemandTec`s solutions. These forward-looking statements involve risks and uncertainties, as well as assumptions that, if they do not fully materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. The risks and uncertainties include those described in DemandTec`s documents filed with or furnished to the Securities and Exchange Commission. All forward-looking statements in this press release are based on information available to DemandTec as of the date hereof, and DemandTec assumes no obligation to update these forward-looking statements.
Armen Najarian, DemandTec, Inc.
Tim Shanahan, DemandTec, Inc.