5 Tips to Avoid EDI Chargebacks
We understand that dealing with EDI chargebacks in the fashion industry can be a tedious process and it take up your valuable time in improving your business. For example, you just got your remittance payment checks from Nordstroms, Saks Fifth Avenue and Bloomingdales, but the amounts are less than you expect because they charged back for some issues. That's why we partnered with our great friend, Robert Prather, who has over 30 years of experience in the industry and an expert on recovering chargebacks so you have the tools to succeed. Read on to start avoiding chargebacks!
- Ensure that you have the most current Routing Guide and the RIGHT people in your organization know how to read and follow it- One of the biggest issues I find in the industry today is the lack of understanding and compliance to a Retailers Routing Guide.
- Be sure that the person managing your chargebacks has the capability to properly identify EXACTLY why you were charged back- An example of this is a Macy's Label Charge for $8.50. It isn't always because they couldn't scan the label.
- Set up a weekly/monthly meeting with all Department Managers to discuss the chargebacks and their effect on profitability- Most companies work in silos; one department has no idea the effect it has on the other.
- Be sure your ERP system set up to handle the EDI/ASN requirements of the companies you’re selling to. Are there ways to be exempt while you become compliant? - How much money are you losing because of rejected/wrong EDI transmissions and the violations that go with it?
- Are you working with your Retail partner to properly address the causes for recurring chargebacks? Is it the right person?- Most companies continue to do the same thing and expect different results. It's imperative that you not only know who to speak to at the Retailer, but how to present and resolve the issue as well.
AIMS360 & Robert Prather have partnered up to offer customers a free one hour assessment of their chargeback process paid by AIMS360. Robert Prather will meet with you at your office and conduct a general assessment of how you’re processing, reconciling and recovering chargebacks. An assessment report will be prepared and delivered.
Fill out the form to get your free assessment.
Robert has over 30 years of experience in the industry and is an expert on the topic of Recovering Chargebacks for apparel companies, Logistic Claim Management, Root Cause Analysis and Claim Reduction.
