Shares of Best Buy are falling Tuesday after the nation's largest consumer electronics chain outlined long-term profit goals that displeased investors. The Richfield, Minnesota, company said that for fiscal 2021 it expects earnings per share of $4.75 to $5.00.
/ Co-op Accruals
Like rebates, there are a number of ways that errors can occur in advertising.
We go the extra mile to understand your procedures so that we can recover more
Cost of Money
Anticipation or Early Payment Discounts are another area of GALOSI’s expertise.
We understand the implications and remedies relative to the cost of money when
our clients pay early whether they intended or not.
Credit Memo Errors
Obviously a credit memo is a good thing unless it is paid or not
deducted at all. We have developed creative methods to uncover
credit memo problems.
Defectives or Spoiled Goods
Whether it is spoiled lunch meats or a defective lawnmower, we
will make sure you are credited correctly according to the many
applicable programs in the industry or according to your own policies.
We will analyze your data from dozens of different angles for those
pesky duplicate payments.We will also look for duplicate paybacks,
payments made to wrong suppliers and any other hybrid of duplicates.
Errors Involving Returns
There is a multitude of overpayments & under-deductions that
can occur in this area. We will make sure that you are only returning
the goods, not your profit!
Freight & Routing Errors
In some analysis, these errors can easily account for more than
half of the money recovered. We understand the idiosyncrasies associated
with freight and will perform well for you in this area.
With today’s razor-thin profit margins, pricing is a critical
area for our review. We will apply our knowledge of industry standards
and bracket pricing to your benefit.
Industry Specific Errors
Every industry has areas unique to them that should be reviewed
for overpayments. Whether it is conditional tariffs, tax parcels,
EDI fees, deadline penalties/rewards, etc.
You would be thoroughly amazed to see the many types of incorrect
upcharges we have seen added to invoices. For the most part, invoice
upcharges are plain & simply
New Store Allowances
There are many ways that suppliers are asked to participate in
new store openings; flat rate amounts, opening order discounts,
free product, etc.
Extension errors, arithmetic mistakes, fat finger aberrations or
other possible mistakes.
Price Protection is often overlooked and is still misunderstood
in our industry. GALOSI knows price protection and the many different
ways it should be analyzed whether in grocery, electronics or elsewhere.
Purchase Incentive Allowances
This is a huge area for grocers and other traditional retailers.
We review your invoices for missed or understated off-invoice and/or
Rebate programs are common place today yet they are rarely calculated & paid
with 100% accuracy, especially if your suppliers are providing
you with the figures. Let us recalculate your rebates as part of
Terms Discount Errors
Your reward for timely payment can sometimes be omitted or understated
even though you rightfully earned your discount. GALOSI produces
unmatched results in this area of recoveries.
Trade Discounts & Allowances
Many industries you are purchasing from have trade programs that
are often mis-communicated (or not communicated at all). Our trade
knowledge and super sleuthing are positives here.
Unapplied Cash & Open Credits
What typically happens when you don’t review your statements
for open credits? The credits are lost forever! We’ll make
sure that doesn’t happen.
Are you properly enforcing the policies you have instituted to
prevent additional expenses due to supplier mistakes? Let our expertise
help you out in this sensitive area.
Volume / Quantity Discounts
Again, GALOSI makes it our business to know of the different incentives
available for quantity purchasing. If you earned it, we’ll
make sure you got it!
Actually this allowance has many aliases but is still quite common
today. GALOSI is aware of the industries and situations where this
allowance is collectible.