Rewarding channel partners is one unrealized managerial activity where brands can save time and reduce their operational costs. This can be done by ‘not’ partnering with multiple payment vendors just to manage channel rewards.
What if there was a platform through which you can manage your loyalty schemes end-to-end and get access to extensive rewarding options for your channel partners? Presenting ‘O4S Redemption Value Management Tool’ – a one-of-a-kind platform where brands can reward their channel partners in diverse ways without having to onboard multiple payment vendors.
Multiple Vendors, Multiple Challenges
Till now, brands and manufacturers had to partner with multiple vendors to digitally manage loyalty schemes for their channel partners. But, working with multiple vendors comes with several challenges.
- Cumbersome Management – Different vendors have different conditions that brands must agree upon. This becomes challenging especially when brands have to collaborate with multiple vendors.
- It Takes Time To Introduce New Reward Options – If brands were to introduce a new reward program, they also need to hunt for the kind of vendor who can assist them with it. Once again, hunting for the vendor and partnering with them while getting all the internal approvals is a time-consuming and rigorous process which brands can choose to bypass easily.
- No Comprehensive View – The absence of a unified platform makes it difficult for brands to keep an eye on all their redemption transactions at once. What if brands could see all of their transactions on a single screen and evaluate the initiatives that are working best for them?
Rewarding Channel Partners Made Easy With O4S Redemption Value Management
With the O4S redemption value management, brands can forget the hassle of managing multiple payment vendors and streamline their process of onboarding, segmenting, managing and nurturing relations with channel partners in multiple ways –
- Savings on Service Charges – With this tool, brands can save up to 50% on service charges. Outsourcing claim management to O4S will help brands cut down on their administrative costs and eliminate the need for third-party vendors.
- Efficient Claim Management – We help you manage and streamline the rebate claim process like a pro so much so that you can witness significant savings on time and effort.
- Accurate & Transparent Reporting – The tool provides you with in-depth remittance reports, TDS deductions, and redemption value usage ensuring transparency and seamless financial management.
- Compliance With Tax Regulations – O4S will assist you in meeting your tax obligations by providing TDS reports and guiding you throughout the filling procedure. We ensure compliance with Section 194R by deducting TDS as per the applicable rules and providing reports for easy filing.
- Real-Time Tracking – The portal enable brands to monitor the utilisation of redemption value, track their claims on any given date, and view comprehensive reports at the same time for data-oriented decision-making.
- Centralized Claim Management – The speciality of this tool is that no matter how many reward programs you run, no matter how many channel partners you have, you can manage and track claims on a single screen without your having to juggle through multiple portals.
- 24/7 Assistance – Our team is available round the clock to provide support and assistance in anything and everything related to claims management.
1. How does O4S assist with TDS transfer?
We ensure compliance with Section 194R by deducting TDS as per the applicable rules and providing reports for easy filing –
- Customer deposits redemption value in O4S’s bank account.
- Channel partners claim loyalty points through the channel app managed by O4S.
- The claimed amount is deducted from the redemption value brands deposited with O4S.
- TDS is deducted from the partner’s claimed amount.
- For claims up to INR 20,000, the full amount is remitted without any TDS deduction.
- For claims exceeding INR 20,000, a 10% TDS deduction is applied to the amount.
- The final amount after TDS deduction(s) is transferred to the channel partner’s bank account.
- O4S provides a detailed report of the TDS deductions to file with the Income Tax department.
2. How to book expenses & file TDS?
- The comprehensive report contains the partner’s name, PAN details (if available), claimed amount, TDS amount, date of remittance, section of payment & rate of tax deduction.
- Brands need to file the TDS for their respective channel partners as per the report submitted by O4S. Brands can book the redemption value at their expense.
- O4S does not book the redemption value at its own expense but acts as a service provider for the transfers. The redemption value deposited by you in the O4S bank account is based on the debit note raised by us. No TDS applies to the redemption value deposited by you.
- A monthly GST invoice for the bank and service fee will be raised to the brand which can be booked as an expense for the service provided by the O4S for managing the redemption value.
3. How does the O4S redemption value work?
The O4S redemption value management is a one-of-a-kind solution for brands and manufacturers to unify the rewards redemption process for their channel partners. The solutions integrate easily with the company’s existing infrastructure and offer the following benefits –
- Efficient claims management
- Compliance with tax regulations
- Cost savings
- Accurate & transparent reporting
- Timely payment to channel partners
- Centralised management of channel rewards
- Real-time tracking & monitoring
- Enhance accuracy & efficiency
- Easy to scale & offers flexibility
Get in touch with one of our product experts to integrate O4S Redemption Value Management in your existing channel sales framework.
Click here to schedule a personalised demo.