You can easily configure the Marketing Development Funds (MDF) Module in Channeltivity to best fit your program’s needs, and ensure both you and your Partners are making the most of your program. The MDF Module simplifies the management of your entire MDF process by doing the following:
- Allowing funds to be issued to Partners with fund expiration dates. (Requires the "Balances & Fund Expiration" features to be enabled)
- Partners can make requests, respond to inquiries, and view their MDF Account Balance and history.
- Documents such as receipts or backup documents for reimbursement can be attached to requests once they've been submitted.
- You and your team can quickly approve requests, assign them, or request additional documentation.
- MDF email notifications and automatic reminders ensure everyone is kept in the loop.
(Requires the "Balances & Fund Expiration" features to be enabled in the MDF Module Settings.)
With the Balances feature enabled, you can issue funds to individual Partner Accounts and set expiration dates on the funds. If the funds allocated to the Partner aren't used, they will automatically expire and go away. To enable this feature go to Settings> MDF Module Settings.
(MDF Module Settings - Partner Balances & Fund Expiration)
Funds are issued to Partner's Accounts in Channeltivity using Credit Transactions. Credit Transactions are used to credit the Partner's Account with funds that are set aside for MDF Activities. The money in the Partner's Account is known as the Account Balance. When the Partner submits a request, they are requesting to use the money that was credited to their Account.
(MDF New Credit Transaction)
Submitting a Request:
Partners submit MDF requests by completing and submitting the MDF Request Form. (Configure and manage your MDF Request Form to fit your program)
(MDF Request Form)
Updating the Status & Assignment:
Once a Request has been submitted, a portal Admin will be notified via email. The User will then review the Request, update the status and assign it to the appropriate Internal User to manage. (Configure your MDF Email Notifications to ensure the correct Users are notified of new Requests and updates made to existing Requests.)
(New MDF Request)
Updating the status moves the Request to the appropriate step in the approval process. (To configure your workflow, check out: MDF Approval Workflow.)
(Change MDF Request Status & Assignment Window- Funds Allocated)
If additional information is needed for a Request, Users can leave comments requesting information and/or upload documents into the History section of the request. (Updating the history will trigger an email notification to Users associated with the Request.)
(New History Entry Window)
Reimbursement of Funds:
Once the MDF activity has been completed and all the necessary information has been collected, funds can be reimbursed. Reimbursements are issued by updating the status of the Request to the "Reimbursed" step in your approval workflow. Funds are debited automatically when you set an MDF Request to Reimbursed.
(Change MDF Request Status & Assignment Window - Reimbursement Issued)
MDF Email Reminders:
Automated Email Reminders ensure everyone is kept in the loop about MDF Requests, funds, and balances. Enable the below Reminders by going to Settings > Email > Automatic Email Reminders.
- New MDF Funds Available - Alerts Users of newly issued funds.
- MDF Balance Report - Includes current MDF balances.
- Expiring MDF Balances - Alerts Users of MDF Balances that are expiring in # amount of days.
- Expiring MDF Requests - Alerts Users of Requests that are expiring in # amount of days.
- MDF Requests Not Updated - Notifies Users of Requests that haven't been updated in # amount of days.
To learn more about reminders for other modules, check out: How do I send out automatic email reminders?