FMCG

If you sell your goods to the likes of Amazon, Walmart, Home Depot, Best Buy and other large retailers, then you need to be ready for payment of thousands of invoices, and unfortunately hundreds of deduction claims. Large retailers will use their power to claim every possible deduction available. These can include deduction claims for shortages, breakages, late delivery, and promotional expenses. When a company receives these deduction claims, they may not have the resources or time required to process them correctly. Some companies have inefficient business information systems and an over-reliance on paper. These deductions are usually for small amounts, but at the end of the year they can add up to tens of thousands off your bottom line. Cashbook’s Deduction automation tool provides extra capability to our Cash Application software. Our Deduction automation tool reads each deduction code supplied by these retailers. This facilitates rapid deductions processing, it can also flag specific deductions for further investigation by the designated person.

With customer portals, previously the large retailers would send through the remittance files in a PDF, EDI, Excel or e-mail format. Today they make the remittance files available to customers by way of a web portal, and they expect customers to log-in and retrieve the files from it. This can be a very time-consuming job for your finance department especially if your main retailers have migrated to this method. Usernames and passwords are required for each individual customer portal, you then have to locate the remittance files and download them. With Cashbook’s Customer Portal automation tool, this work is now streamlined for our clients. The tool remembers and stores all usernames/passwords for each individual portal, it will then source and download the remittance files to Cashbook as soon as they are made available.

The new developments in Cash Application automation have seen Robotic Process Automation (RPA), Machine Learning (ML) and Artificial Intelligence (AI) push the boundaries of what can be achieved today. Cashbook use RPA, ML and AI in our software to automate and process key Cash Application procedures for our customers. It allows for labour-intensive, repetitive and complex procedures to be automated to exceptionally high levels. These advances help maintain stronger cashflows and allow prediction of when your customers are going to pay.

A large percentage of Cashbook customers are in the FMCG industry. We have essential experience with all of the financial challenges faced by organizations in this industry. If you are experiencing any of these challenges, get in touch with us today. We can show you how to solve them through automation. Cashbook has been integrated with multiple ERP systems and banks, it also has multi-lingual and multi-currency capability. It is our vast experience and cutting edge technology that sets us apart from the competition. Get in touch with us today. Request a free product demo or discovery call to see how we can transform your FMCG financial process.

If you would like to find out more about Cashbook, Book a Demo or Contact Us for more information.