Retailers and distributor who use alcohol payments need to be more aware of electronic payment options – they're changing the industry for the better.
Don't Kick Yourself Over Kicked Kegs: Benefits Of Keg Deposit Reporting
How an industry-leading alcohol payments platform can help alcohol distributors better track keg deposits.
As an alcohol distributor, selling draft beer is one part of building your on and off premise business. Obviously, part of the sales includes charging a deposit for kegs and tracking them throughout the year. During this time, your retailers typically return the kegs during their next delivery in exchange for new product.
But as your breweries periodically audit your keg cooperage, do you have the tracking mechanisms in place to know where you stand? Further, do you know the status of your kegs held in your retailers' inventory and the total keg deposit amount each has paid?
The benefits of keg deposit reporting are extremely important when you have funds constantly streaming in, yet no way to efficiently organize all the data. On top of this, you need to know the number of kegs you have at retail and how much each retailer has. As part of your regulated keg deposit plan, all keg and deposit information can be tracked using an automated solution that is combined with your alcohol payment tracking in a single, centralized platform.
Using better payment management software ultimately helps you manage your keg inventories at retail.
SEE ALSO: 4 Things Every Alcohol Distributor Needs
Connecting Distributors with their Retailers
In the age of the cloud, keeping up on financial liability and staying aligned is more important than ever. Keg deposit reporting becomes easier when you use software enabling faster, more efficient communication between you and your retailers. Much of this works through data synchronization so both of you know what's occurring at any given time.
Most essential is having information in real-time so you know when kegs get returned and how many deposit fees come in each day. iControl can show you how this works using an industry-leading payment solution and more thorough metrics to keep on top of activity at retail locations.
Further Streamlining of Payments
Through the e-invoice system, your retail partners don't have to worry about writing checks or money orders to pay their deposits. Using centralized reconciliation, you won't have to consult multiple sources to find out where keg deposits come from.
Plus, when you have a single view of these payments in your accounting system, you help your finance department keep better tabs on deposits to avoid discrepancies. Joint credit checking and dispute resolution tools are newer features that aid in reconciling any keg deposit issues.
Thorough Tracking and Analytics
A more thorough analytics solution can help you keep on top of keg deposits. With real-time tools, you'll be able to gain access to more and better retail insights that you may have not realized was available.
More centralized order, delivery and credit reporting helps you keep on top of kegs you provide to retailers.
Having a closer watch on alcohol distribution gives you reporting like you've never had before through features like exception reporting, inventory management and credit tracking.
With hundreds to thousands of retailers you work with, having their data available in a centralized database is the best way to assure nothing gets missed.
Contact us here at iControl to learn about how our Software-as-a-Service (SaaS) platform can help you with keg deposit reporting and provide you with improved financial management.