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Streamlining Invoicing for a Women's Handbag Supplier
CLIENT’S ISSUES
A women's handbag supplier with a growing network of retailers faced challenges in invoicing its retailers due to the manual and slow process, which resulted in long turnaround times for payments.
The suppliers were further complicated by the different membership tiers of their retailers, leading to inaccurate discount calculation, delayed billing, and wasted time. Furthermore, the invoicing process involved cross-departments, leading to miscommunication and duplication of work. This caused frustrated retailers and ultimately affected the supplier's reputation in the market.
CHALLENGES
Inaccurate Invoicing
The company often found themselves having to resend invoices or dealing with miscommunication between their sales team and finance team, resulting in inaccurate invoicing and payments. Adding to that, any mistakes would cause disputes with retailers causing additional delays in payment and straining the supplier-retailer relationship.
Managing Retailer Discounts
The company offered different tiers of discounts to their retailers based on their purchase volume and loyalty. However, manually calculating and applying these discounts had become a headache for the finance team.
Slow Turnaround
It greatly impacted the day-to-day operations, especially during high seasons. When invoicing different retailers manually, it took a significant amount of time to complete the process accurately. The slow turnaround time also affected the procurement process when they failed to secure the necessary funds to purchase the materials needed for production. This negatively impacts their ability to fulfill orders on time and satisfy their retailers.
SOLUTIONS
The solution for the women's handbag supplier's billing and invoicing issues was to adopt Mauju Invoice. The software offered a more efficient and accurate method of invoicing their retailers. With Mauju Invoice’s 'add discount' feature, the supplier was able to easily provide different discount tiers to their retailers, leading to more flexible and personalized pricing options. This helped the supplier to not only improve the accuracy and speed of their invoicing process, but also to enhance their relationships with their retailers by offering more competitive pricing.
RESULT
The implementation of Mauju Invoice had resulted in significant improvements for the women's handbag supplier. The slow turnaround time that previously impacted their operations and procurement processes had been greatly reduced.
With the automation of invoicing and the ability to add discounts for different retailer tiers, the supplier had become more efficient and saved tens of thousands of dollars. From the savings, they were able to offer more competitive pricing and discounts to the retailer customers, which in turn helped to strengthen their relationships and foster growth.
Overall, the adoption of the invoicing software had been a key factor in improving the supplier's business operations and securing their position in the market.
