cover art for Enable with Andrew Butt | E302

Fintech Impact

Enable with Andrew Butt | E302

Ep. 302

Jason talks to Andrew Butt, Co-Founder and CEO of Enable. Enable is a platform for managing B2B rebates a problem that exists at scale. Andrew describes Enable as a cloud-based platform fostering collaboration among supply chain stakeholders, including manufacturers, distributors, and retailers, focusing on trading agreements.

Episode Highlights:

  • 01:03 Andrew shares the history of Enable, rooted in his background of building software. He recounts encountering the complex rebate management issue at a fast-growing UK distributor, where manual Excel spreadsheets were used due to ERP limitations.
  • 04:30 Andrew adds the loyalty element to rebate programs, drawing parallels with consumer loyalty programs like air miles or coffee shop rewards. The discussion emphasizes the role of rebates in fostering loyalty and influencing consumer behaviour.
  • 07:23 Andrew and Jason discuss the reconciliation challenges in traditional systems, including conflicts, different data sets, and timing issues. This conversation underscores the importance of transparency and collaboration in overcoming these challenges.
  • 11:24 Andrew highlights the importance of alignment across the supply chain, emphasizing that effective rebate management fosters collaboration among trading partners and how their platform serves as a tool for aligning interests, meeting customer needs, and sharing rewards to enhance overall supply chain performance.
  • 17:20 Jason explores the concept of the platform evolving into a more dynamic marketplace where rebate agreements resemble an auction-like system for which Andrew acknowledges the potential for negotiations and dynamic offers, drawing parallels to Google Adwords' instantaneous pricing model.
  • 22:40 The excitement for Andrew lies in the transition from being a piece of software to evolving into a network. The prospect of becoming a network-driven model and the associated opportunities ahead drive Andrew's enthusiasm.

Key Points:

  1. Rebates play a crucial role in business models, with manufacturers strategically using them to incentivize behaviours like volume purchasing. 
  2. The complexity of rebate management is highlighted, with instances where businesses rely on rebates for profitability, and more than 75% of global trade involves rebates.
  3. The future trajectory involves expanding coverage for various rebate agreements, providing more insights, and transitioning from a simplifying tool to a strategic driver for business performance.

Tweetable Quotes:

  • "Rebates aren't just discounts; they strategically shape behaviours. More than 75% of global trade involves rebates, and for distributors, rebates make up an average of 100% of profit."
  • "Automation in rebate management isn't just a time-saver; it's a game-changer. Freeing up personnel from manual tasks and providing valuable insights for informed decisions."
  • “Negotiations and dynamic offers become a reality, drawing parallels to Google AdWords’ instantaneous pricing model."

Resources Mentioned:

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