Customized Supplier Portal Boosted Productivity 107 Percent
SCOTTSDALE, Ariz. – ICG Consulting is a business process solutions leader in streamlining vendor and customer transactions and interactions through the development of full-featured and highly configurable business process automation tools. ICG is pleased to announce that the implementation of a comprehensive customer and vendor portal for client Dot Foods, has resulted in Dot winning the prestigious HUNTINGTON BANK INNOVATION AWARD.
ICG developed and implemented a customized 24/7 customer and supplier portal that contributed to increasing productivity in Dot Foods AR department by 107% over the past three years.
“We’re extremely honored to have been able to work with Dot Foods to provide such an innovative solution-,” said Jim O’Rourke, Director of Business Development for ICG Consulting. “This brings Dot well deserved recognition as a leader and an innovator. They stayed focused on improving both the processes and systems in order to achieve maximum efficiency and profitability. It’s an honor to be associated with such a forward-thinking business.”
Lynn Larry, ICG’s Director of Business Operations, and the Executive Sponsor for this project added, “Working with the team at Dot Foods was a pleasure and very rewarding. They always stayed laser focused on the goal and made ICG’s job a lot easier because we had such great support from the AR folks, IT and Executive Management at Dot”.
About the Technology
Dot Foods, the world’s largest food re-distributor, is based in Mt. Sterling, Ill., with distributions centers nationwide. Dot came to ICG with a unique business model that had some inherent inefficiencies. Buying large quantities of product from manufacturers, then selling smaller quantities to distributors presents potential issues in the dispute process. This is because customer short pays can span multiple products for multiple reasons from multiple manufacturers. Once this is complete, we sort, organize, track, and process the documents. This ensures the parties in this 3-way relationship all benefit from the millions of transactions that traverse the channel.
In some instances, the customer incorrectly short pays the invoice, which results in a customer bill-back. In most instances, the customer short pay will result in a supplier deduction, or deductions from multiple suppliers. Once deducted, suppliers need ample backup for their own internal processes. The volume of paperwork involved was a big challenge for Dot Foods.
The goal of the project was to provide a vehicle for suppliers and customers to participate in the process. Further, it was to ensure Dot had the information available to streamline processes, prioritize work, and make sure deductions and disputes were handled in a timely and accurate fashion.
The results have been dramatic, as witnessed by the productivity increase.
Presented by The Institute of Financial Operations (IFO) at their annual Fusion Conference held in late May in Orlando, this prestigious Huntington Bank Innovation Award recognizes the creative use of advanced technologies, tools, and processes in accounts payable and accounts receivable. Members of The Institute represent some of the most forward-thinking and dynamic individuals and companies in financial operations.
About ICG Consulting
ICG Consulting, headquartered in Scottsdale, AZ, and serving all of North America, is a business process solutions provider that assists companies with a myriad of services, chief of which is streamlining vendor and customer transactions and interactions. ICG does this through the development of full featured and highly configurable business process automation tools such as Vendor Portals, Supplier Portals, AP Automation, Vendor Onboarding, Supplier Onboarding, Workflow Management, and Data Capture tools, to name a few. ICG’s primary function is to automate and simplify vendor communications, transactions and information flow through a variety of tools. The goal? Making business easier, while at the same time, showing clients a significant, measurable ROI. For more information, visit ICGConsulting.com, call (480) 607-4040, or e-mail info@icgconsulting.com.