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Netformx PartnerCentral Drives Profitability from Partner Reward ProgramsSAN JOSE, Calif. --(Business Wire)-- Netformx®, the leader in sales enablement and profit acceleration solutions that help customers win more digital enterprise opportunities, announced today that Netformx PartnerCentral showed its customers more than $30 million in potential incremental rebates for Cisco's (News - Alert) most recent 6-month Value Incentive Program (VIP), directly impacting their bottom line. The PartnerCentral SaaS platform helps technology providers increase profitability by automating the process of capturing more reward dollars, reducing labor-intensive and manual tasks to ensure compliance, and significantly improving the visibility and management of vendor reward and certification programs. The Netformx analysis of the 6-month VIP23 period showed
Cisco partners typically use ad hoc manual methods to manage their company's vendor promotions and certifications-if they track anything at all. As a result, they may not complete all the steps to qualify for the rebates and then get paid. Rebates may not be recorded or paid as earned because, for example,
Replacing manual processes, PartnerCentral obtains data from multiple sources and applies sophisticated algorithms that correlate the results to improve operational efficiencies and profitability. PartnerCentral automatically analyzes the data to identify potential situations that invalidate or increase the rebate and highlights them to the partner. The partner can then dispute relevant transactions with the vendor. As announced in September, PartnerCentral is now integrated into Netformx DesignXpert® version 16.0. As a result, during the initial solution design phase DesignXpert automatically provides intelligent suggestions for part alternates and/or promotion and incentive program replacements. This makes it even easier, in the current VIP24 period, for partners to increase profitability and gross margins. The study results are based on an analysis of Cisco's VIP23 which was effective from January 26 through July 26, 2014. Participating partners in Cisco VIP programs receive payments for each VIP period when they meet or exceed program requirements. Key Facts
"Partners take Cisco's word on VIP reward payouts since to verify and validate its accuracy is an extremely time consuming manual task, especially with the volume of deals we do with Cisco," said John Bristol, Practice Director at Trace 3. "PartnerCentral checks every deal, validates it for VIP payout, and then correlates with what we are actually getting paid. PartnerCentral's ability to cross check VIP payouts is very valuable and has resulted in immediate growth in our reward rebates." "Our study showed that partners aspire to design-to-profit, such as generating proposals that take into account VIP-eligible SKU's. However, many Cisco partners are not doing an effective job at operationalizing-to-profit by ensuring that they complete all the steps to qualify the rebates and then get paid," said Ittai Bareket (News - Alert), Chief Executive Officer at Netformx. "We are delighted to see a record number of customers using PartnerCentral to maximize their program participation and rewards." Resources
About Netformx Netformx is the leader in sales enablement and profit acceleration solutions that help customers win more digital enterprise opportunities. Netformx's customers include service providers, systems integrators, and equipment vendors who rely on our award-winning solutions to design and sell the information, communications, and technology solutions demanded by enterprises across the globe. Netformx has over 2,680 solution providers as customers in more than 144 countries. Customers include AT&T, Belgacom (News - Alert), Bell, CDW, CenturyLink, Cisco, Dimension Data, HP, Insight, Juniper, Orange Business Services, Sprint, Swisscom, Telstra, Verizon, and WWT. The Netformx KnowledgeBase™ is the only comprehensive multi-vendor content library for technology products, including specifications, validation rules, pricing, ordering information, and discovery mappings from top technology suppliers including Cisco, Brocade, HP, Juniper, Avaya, APC, Belden, Polycom (News - Alert), and Riverbed. More information can be found at www.Netformx.com.
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