Food logistics firm STEF-TFE - which delivers a number of major brands including Pepsi and Baybel cheese - is attempting to improve its cash flow with a new integrated SAP settlement system.
STEF-TFE operates around 200 sites across the UK and Europe and serves over 50,000 customers, with controlled-temperature transportation and warehousing facilities for fresh and frozen food.
The company is using SAP with the aim of having better insight into its settlement processes and support in the handling of payment disputes. The firm says the new system is improving its cash flow by reducing the number of days for outstanding invoices, and improving customer relations by "enabling faster, more accurate responses to customer billing inquiries".
STEF-TFE is using the SAP Collections and Dispute Management application, which is integrated with its existing SAP enterprise resource planning (ERP) and financial software.
SAP Collections and Dispute Management enables STEF-TFE to generate reliable settlement forecasts, while the real-time management of receivables has helped cut "outstanding" time waiting for income to be booked from a sale by an average of three days, said STEF-TFE.
Bad-debt write-offs have also been reduced by 10 percent and payment-related disputes "are identified and addressed quickly and accurately, helping STEF-TFE to accelerate its cash flow", said the company.
Pub chain JD Wetherspoon recently said it was implementing an enterprise resource planning system from SAP. The company said the ERP system was "crucial" to improving and simplifying its procurement and financial systems.