EMPOWER SUCCESS STORY – Major Fashion Retailer
The client in question was having significant trouble with AR and AP Aging across multiple legal entities. They were operating in 100+ legal entities and it was taking days at month end close to consolidate there Aging reports. In addition to that they had multiple currencies and there was a significant amount of work to get a Vendor/Customers true cash position. Additionally, by the time they got it worked up somebody might have posted another entry or the data was too late to be actionable.
We implemented our EaxAccontsReceivables and EaxAccountsPayables modules in their environment. This report gave them the ability to see a single Vendor across multiple companies and see an overall cash position in a single USD reporting currency.
- The report allowed them to date effect the report and instantly update a report
- Reduced multiple days of close and gave them actionable information. Could get cash position not just at go live but at any point in the month.
- Saved them a lot of money related to controlling their cash position. It saved them on late fees and kept them from overpaying vendors and helped them to maximize cash discounts.