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PSG Manages Deductions and Chargebacks with Centreviews RPA Bots

Industry: Financial Services

Headquarters in New York, NY

Founded in 1999

Profit Solutions Group, Inc. (PSG), needed a solution to help their clients better organize and retrieve their key documents to help them find the information they need to fight chargebacks.

Using Centreviews RPA Bots, PSG was able to provide an automated solution that automatically captures and links the sales orders with all the related documentation created in the process from order to receipt of payment.

  • Centralized hub for receivables and all supporting documents.
  • The system reduces penalties.
  • PSG is a preferred vendor because their clients are happy.
  • Background

    Profit Solutions Group, Inc. (PSGI), located in New York City, is a company that specializes in the recovery of chargebacks and deductions.

    PSG assists many vendors in various consumer product sectors and is uniquely positioned to help those companies cope with the sheer magnitude of the various types and classifications of chargebacks. PSG has been instrumental in decreasing the dilution rate of their clients, and thus increasing their clients’ ability to grow their business through additional credit lines and working capital. In addition to the recovery solutions, Profit Solutions Group, Inc. provides a consulting service to help companies restructure their back-office and help implement best practices.

  • Challenge

    PSG needed a way to quickly access and critical documents to fight chargeback claims.

    PSG is frequently called in to help businesses deal with a large number of receivable chargebacks that have been mounting over a significant period of time. Clients use PSG to help reduce its dilution rate, which is the amount of money a company loses each year due to chargebacks, deductions, and other issues.

    If a company that generates sales revenue of $100 million per year has a dilution rate of ten percent, that’s $10 million in losses each year that disappears from the bottom line. In helping those businesses dispute the claims, PSG often found it difficult to access and find the documents needed to help prove that the chargebacks were filed in error or without authorization. In some cases, the documents couldn’t be located at all and even when it could, a large number of man-hours were often wasted searching for it.

    With Centreviews RPA Bots, PSG is able to set up an environment where all supporting documents are captured from the systems where they are created or scanned into the system and indexed. Because every pertinent document is linked for each transaction, clients no longer have to scramble to find the documentation they need to fight chargeback claims. They are able to search on any document type by its identifier, i.e. invoice number, BOL number, etc. and get instant access to all the associated documents.

  • Solution

    Using Centreviews RPA bots, files from disparate systems are all captured and linked in one place.

    Once an order is received in the client’s ERP system, the order is electronically sent to the Centreviews. The remainder of the documentation associated with that order can be either captured electronically or scanned if it is paper-based.

    Centreviews receives files from disparate systems, such as warehouse management systems, transportation providers systems, bank lockbox, customer portals, etc., thus ensuring all documentation is captured and linked in one place. Centreviews has the ability to store this information for many years, which means that if a customer like Kmart or Kohl’s comes back years later saying there was a mistake and issues a post-audit deduction, the PSG client now has the ability to pull the documentation necessary to negate many of the post-audit chargebacks.

    Another benefit of Centreviews is that PSG’s clients can train their employees to send an email confirming details in writing using a Bcc email address that is tied to Centreviews so that the emails are automatically linked to the associated transaction. This key provision removes the “he said, she said” possibility that a retailer customer can take advantage of. Without a copy of the email, a retailer customer can dispute a prior conversation regarding such issues as change of shipping dates, waiving of late fees, or any other problematic situations that may require approval from the retailer in writing. The retailer customer is asked to acknowledge the agreed-upon change of terms in writing and communicate it back in an email.

  • Results

    Now that there’s a centralized hub for AR documents, PSG’s clients are happy and save money.

    Thanks to Centreviews, PSG can now assist clients set up a receivables solution that not only helps them dispute chargebacks but also puts protections in place to prevent future penalties and reduce dilution. This system helps PSG’s clients save significant money, thus making the firm a preferred solutions provider for the many consumer product industry companies interested in reducing the amount of money they are penalized each year for chargebacks and deductions.