We’re always making changes to enhance the customer experience with FORGE. Read below for a quick update on some of the exciting new features in version 8.0.
Automated Effective Rates
Also known as a ‘blended rate’, this new feature provides the user with an effective blended rate that considers the weighted share of discounted business. This feature allows manufacturers to essentially offer a lower [or zero] earned income rate on deeply discounted volume for distributors that deduct all of their earned income.
By leveraging daily data feeds from the USDA, New York Board of Trade, Chicago Mercantile Exchange and other sources of commodity values, FORGE can now automate updates for formula-based contracts. Pricing is updated on a user-driven schedule [daily, weekly, monthly] for each contract while taking into account factors such as yield loss, packaging, transportation, SG&A and other cost factors.
Core Feature Upgrades
Current FORGE tools for automating earned income and brokerage payments [e.g., Auto Pay] and tracking program-level claim history [e.g., the dollar sign icon in the application] have both been upgraded to provide additional research and analytical capabilities.