Smartwyre® Expands Incentive Capabilities for Suppliers

DENVER—Smartwyre® today announced new settlement capabilities that help agricultural manufacturers and distributors manage incentive statements, changing liabilities, approvals, and payment records in Smartwyre.

The new capabilities allow suppliers to capture incentive liabilities as they accrue, create customer statements, account for changes as they receive additional transactions, and issue true-up statements when amounts change. Suppliers can also manage settlement approvals and record payments against statements.

For commercial and finance teams, the added flexibility can help suppliers begin settling incentive earnings before every transaction is final. Suppliers can decide when to settle with customers, account for later changes without recreating prior work, and better coordinate customer payout timing with cash flow needs.

“Suppliers need flexibility in how they manage incentive payments,” said Elias Tavarez, Chief Revenue Officer at Smartwyre.“ The timing that works for one customer may not work for another, and the amount owed can continue to change as new transactions come in. Giving commercial and finance teams a clear record of what is owed and what has changed gives them more control over when they settle with customers.”

The release expands Smartwyre’s role in the incentive lifecycle beyond program management and liability calculation and into settlement. Program terms, transaction data, calculated earnings, statements, approvals, and payment records can remain associated in Smartwyre as an incentive moves from calculation through settlement.

These capabilities also represent the first phase of Smartwyre Payments. Future releases will allow suppliers to make customer payments directly through Smartwyre, extending the process from calculating what is owed to moving funds.

“Smartwyre already has the program and transaction data that determines what a customer has earned,” Tavarez said. “Payments is the next step. Our goal is for customers to manage the commercial process from program creation through settlement and payment in Smartwyre.”

The new settlement capabilities are available today to eligible Smartwyre customers.