Trade promotion failures are often pinned on the sales team but is that fair? In this video, we unpack why accounting and finance should take a leading role in driving Trade Promotion Management (TPM) success.
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00:00Typically, accounting should be the owner of the whole thing end to end.
00:04Yes.
00:05And in some companies that the general accounting department or the controllers group might disagree with me.
00:11But the important thing is that your ERP system is your books of record.
00:16Right.
00:17And the information that goes in the ERP system is the ownership of the accounting group.
00:21At the end of the day, when if things don't work out, they are the first ones who have to answer the questions coming out from the management team and coming maybe even.
00:30From the auditors.
00:30So it is in their interest to bring it all together.
00:34And also, they are the ones who have the visibility because they may not be involved in writing the promotion plans,
00:41but they are very much involved in taking the results of those promotion plans and turning them into a monthly accrual.
00:50More important, the deductions that are on the balance sheet are under the general accounting group is the one that has the most visibility.
00:58And the accrual that remains at the end of every month relating to your promotional activities is another important element which is owned by the accounting.
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