When it comes to managing a Channel Compliance Program, one strategy many OEMs with mature programs employs is to perform ongoing monitoring and analytics across various data sources such as POS reporting, claims, OEM shipments, credits and or payments issued, etc., with the objective of monitoring channel partner compliance and claims.
Often times, OEMs use a simple Excel analysis or the use of a business intelligence and visualization tool like PowerBI with quarterly trends which helps to reactively make decisions. At Connor, our technology-first approach is to systematize Deeper Analytics to make predictions to help companies be more proactive in monitoring and in making smarter decisions. For example, we help OEM’s identify erroneous claims, overpayments, and non-compliance in enough time to allow the OEM to stop or recover the payment/activity.
Ingests Disparate Data Sets in Native Formats
Data is the backbone of any successful analytics initiative; however, one of the biggest challenges to operationalizing analytics is the inability to make sense of disparate and dirty data. The Connor Data Platform engine uses machine learning to perform a combination of automated data cleansing and format manipulation that also relies upon simplified human review and approval. Implementing data normalization and data validation processes are key to addressing this initial challenge for downstream analytics and requires thought and planning to do it well.
Data Analytics and Business Intelligence
Once data has been cleaned, validated, and normalized, the Connor Data Platform applies algorithmic analysis to identify potential issues and red flags. Beyond looking at individual metrics for outliers, the platform takes Connor’s experience and expertise in compliance and applies it at scale across joined, multi-sourced data sets. The resulting intelligence can enhance compliance efforts in both recovery and preemptive communication, with possible application to marketing and sales efforts.
Data Platform Outputs
Platform outputs are customizable and may include a variety of formats ranging from dashboards, reports, visualizations, statistical analysis, automated emails, and may be used to identify areas for improvement, issues for resolution, and specific identification of partners requiring follow up by the OEM. Some example uses include:
Utilize multiple internal and external data sets and leverage that information to identify ineffective programs and non-compliant activities, manage channel partner effectiveness and increase bottom-line revenue.
Partnering with Experts to Develop Enforcement Strategies
Connor is re-imagining channel compliance with a globally distributed team of consultants with deep Big 4 and industry experience, and local expertise. Our technology-first approach is tailored to your specific channel environment and is powered by our dedicated team of passionate compliance experts.
With customized support from Connor Consulting, your channel audit program can pay for itself within 12 months. In fact, past channel programs have historically exceeded 14x ROIs.
Read the Entire Series of Blogs Focused on Channel Auditing Best Practices
If you haven’t been following this series of blogs, you can access the previous installments below:
- The OEM’s role in Enforcing Channel Partner Compliance
- Gray Market 101: Definitions, Risk Factors, and How to Combat it
- The Benefits of Monitoring Channel Partners and Tips to Get Started
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