POSConnection, a collaborative effort between NEMRA and SPARXiQ, is now live. POSConnection is the next phase of NEMRA’s successful POS initiative.
POSConnection is a collaborative effort between NEMRA and SPARXiQ to streamline the POS data collection process between distributors and manufacturers to facilitate accuracy and timeliness of rep compensation.
Supported by a pilot group of manufacturers, data is transmitted through the hub. Currently, over 60 electrical distributors are providing data…some for one manufacturer, some for multiple.
POSConnection is a data highway and helps distributors streamline their POS reporting by standardizing on reporting formats and transmission. Information is sent from the distributor to the hub, algorithmically normalized against a supplier provided product database to ensure UPC or catalog number accuracy, and then aggregated with data from other distributors, from the same manufacturer, into one file for forwarding to the manufacturer.
Rep principals, through a portal, can view POS reported product sales information by distributor to assist in ensuring they are receiving sales credit. No end-user customer information is available for reps through the POS hub.
The result is that the manufacturer receives one (1) data file, with all distributors reporting in the same process, at the same time, and the information is accurate. The automation of the process saves time, improves accuracy and allows the manufacturer to quickly upload the file into their reporting/commission system.
“We’re excited that POSConnection is now up and running and encourage manufacturers to support this initiative to streamline processes, reduce operational costs, and more effectively gather information to support POS compensation”, said Jim Johnson, President of NEMRA. “We worked with SPARXiQ to address industry concerns regarding data security, and ensuring that information could not be aggregated amongst suppliers, analyzed, or resold to third parties”.
According to Mark McGready, Director of Strategic Analytics at SPARXiQ, “This platform will support and enable the industry and representatives to move forward with a cost-effective solution, addressing a very important need. Our successful pilot group demonstrated we are ready to scale to support this very important industry initiative.”
For more information on POSConnection visit www.posconnection.com or contact Mark McGready at mark.mcready@sparxiq.com.
Tagged with NEMRA, POS, SPARXiQ