Discover Dollar: Enabling Retailers to Resolve Overpayments and Revenue Leakages
The retail business is going through a tremendous change in the way it is being operated. “With the advent of new age e-commerce and social media, the dynamics of retail has changed and profit margins have suffered. With the prevailing price wars and aggressive competition, Retailers now have no-say on retail price and they are focusing on cutting down costs, increasing margins negotiated with vendors and most importantly on vendor income in form of allowances collected for promotions run in the store,” says Subrahmanya Rao, Co-founder & CEO of Bangalore based Discover Dollar. The company helps retailers optimize their margins and allowances collected from vendors and resolve leakages. Discover Dollar enables retailers to detect and resolve overpayments, missed discounts and unrecovered vendor incomes. Being a member of “SAP Accelerator”, the company has built a revolutionary solution on SAP’s most successful big data platform - SAP Hana. Discover Dollar works closely with SAP to address customer’s pain point. The solution featured among “Top 5 Most Innovative Solutions” by SAP in their flagship event SAPPHIRE 2014 in Orlando, Florida. The company was also a finalist in NASSCOM “10K Pitch” among 7000+ applicants across India.
Every retailer loses millions of dollars due to overpayments and leakages even if their systems are robust and world-class. Discover Dollar offers specialized Audit Recovery Service to recover clients’ lost dollars from their valuable data. “Typical areas where retailers lose money are – pricing errors, missed cash discounts, leakages in collection of vendor incomes, promotional discounts, miscalculated rebates etc. We run ad-hoc analytics and dig deeper into data and source of overpayments and recover them from vendors on behalf of our clients,” says Praveen Kumar, Co-Founder & CTO of Discover Dollar.
The firm also performs root-cause-analysis to help its clients prevent these issues from happening in future. One of the revolutionary solutions provided by the company is Discover Dollar Resolve which can automatically detect and resolve overpayments and leakages. It analyzes various data sources within the enterprise including structured data like Purchase Orders, Invoices, Vendor Files and even unstructured data like emails, vendor contracts and agreements. It identifies potential leakages even before retailer overpays and notifies the relevant person in the organization to resolve it over a click of button.
Comprehending the importance of business intelligence, Discover Dollar helps retailers get deeper insights to achieve sustainable profits. The company’s state-of-the-art analytics engine analyzes historical data on pricing, pattern of price movements, promotional discounts claimed and received from vendors, the success rates of deals. It provides immensely valuable recommendation retailers to get merchandise at best prices. It also aids in negotiating and optimizing promotional deal and vendor income which contributes to higher profitability and sustainability.
While most of the players of this segment try to recover money almost a year after transactions are made, Discover Dollar follows a proactive approach to resolve overpayments even before they happen. With this approach, the company currently serves the North American and European market, and is now expanding its reach to India and South Asia. Discover Dollar can be reached at www.discoverdollar.com or help@discoverdollar.com.
Discover Dollar enables retailers to detect and resolve overpayments, missed discounts and unrecovered vendor incomes
Comprehending the importance of business intelligence, Discover Dollar helps retailers get deeper insights to achieve sustainable profits. The company’s state-of-the-art analytics engine analyzes historical data on pricing, pattern of price movements, promotional discounts claimed and received from vendors, the success rates of deals. It provides immensely valuable recommendation retailers to get merchandise at best prices. It also aids in negotiating and optimizing promotional deal and vendor income which contributes to higher profitability and sustainability.
While most of the players of this segment try to recover money almost a year after transactions are made, Discover Dollar follows a proactive approach to resolve overpayments even before they happen. With this approach, the company currently serves the North American and European market, and is now expanding its reach to India and South Asia. Discover Dollar can be reached at www.discoverdollar.com or help@discoverdollar.com.
