Press release
COVID-19 causes disruption for 83% of distributors and their supply chain
Today Enable – specialists in rebate management software revealed the results of their Q2 survey calls focused on the COVID-19 pandemic and how this has impacted B2B rebate deals for many distributors and their supply chain.Notably, nearly 83% percent of companies reported supply chain disruptions in some capacity due to COVID-19, with it having a highly negative affect on 30% of those surveyed including no sales due to closures. On the opposite end of the scale 10% of businesses stayed the same and 7% of businesses experience a positive outcome due to increased consumer demand.
Andrew Butt, CEO of Enable said:
‘We commissioned this survey to help us not only to learn and improve our product, but more importantly the lives of sales, purchasing and finance teams who negotiate and execute rebate deals throughout the supply chain. Rebates drive behaviour and, when implemented correctly, will help to fuel the economic recovery by providing the right incentives to the right trading partners at the right times.’
Other significant findings include:
• More than half (52%) are still not sure what measures they will put in place to mitigate the impact now and after restrictions are lifted
• 47% of businesses have seen their revenue decrease between 10% - 80%
• 31% of those surveyed took advantage of the UK governments furlough scheme.
• 33% said they have seen closures in some kind especially those in the construction industry (10%)
• 14% are finding it difficult to sell their goods due to customers being closed
• Only 15% are working in collaboration with supplier’s
B2B deal related findings include:
Being experts in B2B deals, Enable wasn’t surprised to find that companies are still using outdated processes such as spreadsheets (34%) and traditional ways of signing of their trading agreements (44%). Plus, 64% found many challenges with their current deal management system such as key person dependency and time consuming. Therefore, this enforces the need for the digitalization of deal management for many sales, purchasing and finance teams.
More than half (56%) also said they are renegotiating the general terms of their trading agreements to assist in the recovery once the pandemic restrictions are lifted.
Methodology
The charity calls were conducted in Q2, the survey’s 100 respondents were from US and UK businesses involved in rebates and B2B deals.
Respondent roles range from operations (16%) to CXO (13%) plus we spoke to those involved in finance (11%) and procurement (9%) across the supply chain. The largest quantity of responders at 47% were part of the commercial team, who arguably are on the front line of their respective businesses with the most telling insights.
Enable also had a charity element to this survey, in total they will be donating $2500 to the Coronavirus Relief Fund in the US and $2500 to the Stratford-upon-Avon foodbank in the UK.
To explore the findings in more details, download the report here: https://inbound.enable.com/the-impact-of-covid-19-on-b2b-rebate-deals
About Enable
So much more than rebate management, Enable’s software helps suppliers, distributors and wholesalers to drive mutually profitable growth, while improving cash flow and reducing risk. Leading manufacturers and distributors in the UK and North America depend on their software to collaboratively plan, execute and track complex trading agreements involving millions in rebates, discounts, royalties, purchase income and back margins. For more information visit us at www.enable.com
Enable
10-12 The Courtyard
Timothy's Bridge Road
Stratford-upon-Avon
CV37 9NP
United Kingdom
03303112808
So much more than rebate management. Enable is the collaboration platform for maximizing the performance of your B2B deals while improving financial transparency and operational efficiency.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release COVID-19 causes disruption for 83% of distributors and their supply chain here
News-ID: 2113158 • Views: …
More Releases for B2B
B2B Telecommunication Market Report 2024 - B2B Telecommunication Market Size, Tr …
"The Business Research Company recently released a comprehensive report on the Global B2B Telecommunication Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.
Ready to Dive into Something Exciting? Get Your Free Exclusive Sample…
Global B2B Emails: Premier Destination for Verified B2B Emails and Lead Generati …
Discover how GlobalB2BEmails.com is revolutionizing B2B email acquisition for modern businesses. With a focus on simplicity, affordability, and user satisfaction, GlobalB2BEmails.com empowers businesses to reach their target audience effectively. Experience seamless access to verified B2B emails and unlock new opportunities for growth and success with GlobalB2BEmails.com.
In the digital age, where marketing plays a pivotal role in driving business growth, access to verified B2B emails is essential for success. Amidst the…
B2B Marketplace
All set to redefine India's growing e-commerce sector, DIAL42 is making its way into the B2B marketplace by providing services in four major domains: Transport and Logistics, B2B e-commerce and services, Medical services, and Foods & Beverages. We provide a highly integrated platform which brings together the country's leading manufacturers, suppliers, wholesalers, dealers and retailers for SMEs, MSMEs, and large-scale businesses.
Based in Gurugram, Haryana, DIAL42 is dedicated to simplifying…
Best B2B Service Providers in United States | United States B2B Market Research …
The market research is a proficient process of gathering information linked to the industry, market trends, customer behaviour, demographics and numerous other relevant information of the marketer’s product and services. Market research is an essential for the important of any business: new and existing. Through the market research you get a thorough understanding of your competition and industry. That’s the reason Ken Research convey you with an extreme market research…
Best B2B Service Providers in Thailand, Thailand B2B Market Research Reports - K …
Thailand has made the remarkable progress in the social and economic improvement, shifting from a low-income to an upper middle-income region in less than a generation. As such, Thailand has been a broadly cited improvement accomplish story, with sustained robust growth and impressive poverty deduction.
In addition, Thailand is renowned for its universal health care program (UHC) and accomplishment in the child nutrition, but quality of education remains a feeble…
B2B Data Exchange Market Is Booming Worldwide | Informatica, EIX Systems, Adepti …
HTF MI recently introduced Global B2B Data Exchange Market study with in-depth overview, describing about the Product / Industry Scope and elaborates market outlook and status to 2023. The market Study is segmented by key regions which is accelerating the marketization. At present, the market is developing its presence and some of the key players from the complete study are Informatica, EIX Systems, Adeptia, Inc., B2B Commerce (M) Sdn. Bhd.…