Dashboards!
We spoke a few weeks ago to the global treasurer of a major multinational (30+ countries and ERPs and the same number of procurement and finance teams ...).
Today, most of the reporting on payables in his business has a week plus (sometimes a month) of latency.
There's a heap of manual heartache involved to ensure that translation differences between countries and systems get ironed out safely.
One of his important KPIs is to deliver working capital efficiencies; but he has neither good visibility nor effective control over days payable outstanding (ie: payment terms agreed with suppliers). Procurement teams in-country handle that ...
Looking at our dashboard, he said it would be his dream to have this kind of data, especially with the drill-down, slicing-and-dicing, and analytical capabilities that we provide out-of-the-box.
Take a look!
Example Prima dashboard (data anonymised and flexed for confidentiality reasons)
Every treasurer and CFO can have this level of visibility. We can even go live without an IT project - just switch us on.
When you can measure it, you can manage it.
Suppliers do the work over our secure platform, self-digitizing their shipments to provide a single, real-time and consistent source of truth across the enterprise at transaction level. And that's irrespective of ERP, country, procurement team, transport method and product.
Supplier data?
That's right - supplier data drives the dashboard. And supplier data is a new data source for most businesses that can be used to deliver multiple operaitonal wins as well as amazing enterprise-level views:
On our platform, suppliers self-digitize their invoices (ie: convert them into structured data). We also get suppliers to self-match invoices to purchase orders.
This enables us to post already-matched-invoices directly to buyer ERPs, cutting out an entire layer of work for AP teams.
We can use this data to drive customs filings, since the data quality from the supplier post-shipment is better than the data-quality coming via logistics which is often pre-shipment. Another layer of work cut out.
And we can help warehousing teams deal with in-bound shipments because have what's actually in the boxes (packing lists) matched to purchase orders as well.
And working capital?
And we use that data to put corporate treasurers and CFOs in control of DPO (days payable outstanding), providing the tools actively to manage working capital in the supply chain.
Highlighting some of the real-time data flows
To find out more, please contact us here and book a short call (15 mins is enough).
We can explain how supplier data can be used to gain control over your days payable outstanding and how this can be delivered with zero net investment and without a complicated project.