Companies lose out on billions of dollars every year through their incentive programs as a result of duplicate claims, inconsistent invoices, misinterpreted program requirements, and much more. Without a proper process for review, fraud or misinterpreted claims in your rebate program can detrimentally impact your bottom line and damage your credibility. In order to reduce
Offering a big rebate can get consumer attention, but not always in a good way. Rebate fraud can pose major problems for brands trying to move out old stock of products, gain momentum for something new or simply expand a revenue stream.
Black Friday is around the corner, leaving plenty of consumers with visions of massive sales and a chance to purchase items they may otherwise not even consider buying. For brands, this means an incredibly competitive period.
In a recent ruling, the U.S. Court of Appeals for the Third Circuit Court overturned an IRS decision that Giant Eagle, a supermarket chain, was not entitled to make a $3.7 million deduction on the expenses associated with loyalty discounts from its tax returns, PricewaterhouseCoopers reported.
Fraud has become more of an issue for many types of payment processes as technology has advanced, and rebates are no different.
Many channel incentive programs are leaking money to invalid claims and fraudsters. In fact, without proper auditing in place companies are likely wasting in excess of 13% of total spend. Here’s how to start fixing it.
If you are familiar with our e-book, Fraud: The Most Overlooked Opportunity, you are aware that 360 Incentives has put a lot of energy into researching opportunities to help our clients improve the efficiency of their incentive spend. A massive opportunity in most companies is in the area of fraudulent claim reduction. In the
One of the most common questions people ask us in the Risk and Compliance department (RAC) is something along the lines of “what are people trying to get away with these days?” Naturally, we assume the best and most issues that pop up in our claims auditing have to do with honest mistakes such
By Jason Atkins July 29, 2013 In July I keynoted the Incentive Marketing Association’s Annual Executive Summit session on technology. In a talk entitled “Connect Through Technology,” I spoke about the way technology and customer lifetime value can drive consumer advocacy for a company or product and reshape how promotional programs are executed today. In
By: Jason Atkins Upon reading Kevin Martin’s article, 7 Ways To Cut Incentive Fraud yesterday, I was reminded of a handy checklist we created for a talk I gave to some Deloitte auditors a few months ago. It’s called the Auditor’s Promotion Checklist. Internally, we refer to it as the line auditor’s cheat sheat, and it’s