June 29, 2024

How NotCo Leveraged Vividly to Optimize Deductions Workflows and Boost Financial Performance

Vividly Team
Case Studies

Founded in 2015, NotCo is a fast-growing food technology company that uses artificial intelligence to create plant-based alternatives to animal-based food products. Dedicated to sustainability and flavor, NotCo aims to revolutionize food production, making delicious, eco-friendly food accessible to everyone, everywhere.

Like many CPG companies experiencing rapid growth, as NotCo looked to expand its presence in the United States, it encountered the challenge of managing increasingly complex trade deductions.

As businesses scale, the complexity of tracking and categorizing deductions increases, often leading to inefficiencies and errors that can impact financial performance. Effective deduction management is essential for maintaining accurate financial records, optimizing trade spend, and ensuring long-term sustainability.

But without the right tools, even the most innovative companies can struggle to keep up with the demands of a growing market.

That's when the team at NotCo knew it was time for a change and switched to Vividly's deduction and trade promotion management software.

NotCo was able to:

  • Move off a less-intuitive TPM
  • Benefit from an easy process with SAP
  • Quickly clean up $2m in deductions
  • Optimize workflows and headcount

According to Patricia Lino Cavalcante, NotCo’s Accounts Receivable Team Leader, NotCo’s rapid growth was a double-edged sword. Entering the U.S. market meant that the company’s existing trade promotion and deduction management tools and processes needed to be up to scratch, but unfortunately, that wasn’t the case.

"Our previous [TPM] software was cumbersome and complicated. The layout prolonged the deduction process and overwhelmed us with irrelevant information. Integrating with our SAP system was challenging, risking inaccuracies and costly errors in our financial records.”

That’s when Patricia’s team began evaluating other solutions.

Navigating a New Market with A Cumbersome TPM System

It was clear that continuing without changing their existing trade promotion management solution was not an option.

“The layout was very complicated and the data in the [old TPM tool] was disorganized. I still had to do a lot of cleaning and filtering. We needed something more clean and straightforward because [with the old TPM] it was very difficult to record our deductions correctly and it directly affected our P&L.”

NotCo needed a robust solution that could integrate seamlessly into their operations and support sustainable growth, leading to the exploration of our tailored solutions.

In order to properly manage their trade spend and deductions, NotCo needed:

  • An end-to-end deduction management and trade spend solution that could handle their growing deductions workload without escalating costs
  • TPM software that was easy enough for the entire team to set up and use
  • A solution that could offer not only a cutting-edge technological solution but also expertise in the CPG industry

How Vividly Helped NotCo Streamline Deduction Management

Prior to switching to Vividly's deduction and trade promotion management software, deductions were a huge hassle for NotCo. They had thousands of deductions in SAP but were struggling to classify, organize, and track them properly.

“We had no idea what GL account the deductions would hit, or their impact on our revenue. We had all the raw data but had no idea how to take the next step of handling them.”

Once NotCo switched to Vividly, they immediately saw improvements in their deduction management processes. The impact was tangible, enabling their team to clean up over $2,000,000 worth of deductions in their system.

Working with Vividly, NotCo was able to:

  • Easily organize and track all their deductions data: Vividly easily integrates with their ERP (SAP), or allows for a simple drag and drop process of deduction data, which simplifies the process of cleaning, organizing, and tracking deductions for Patricia and her team.
  • Bridge the knowledge gap: Vividly’s team of CPG deductions experts offered Patricia and her team best practices and hands-on training sessions during the implementation process
  • Optimize resource use: Implementing Vividly has enabled NotCo to optimize its existing workforce rather than increase headcount. Patricia and her team can now focus on strategic initiatives by automating routine tasks, and increasing productivity without incurring additional costs.

"With Vividly, we found a solution that streamlined our deduction processes and seamlessly shared data with our SAP system,” says Patricia. “The clarity and straightforwardness of Vividly's system have transformed our operations, making our financial management more accurate. Switching to Vividly has simplified our workflows, significantly reduced the risk of errors, and enhanced our financial soundness."

About Vividly

Vividly stands as the industry leader in trade spend management, dedicated to boosting ROI for CPG companies. Specializing in meticulous trade promotion planning, enhanced sales forecasting, and streamlined deduction management, our implementation process is up to 48% faster than conventional approaches — enabling businesses to scale effectively and economically. Vividly's deduction and trade promotion management software simplifies complex deduction processes, ensuring sustainable growth and maximizing promotional impact for CPG brands in competitive markets.

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