The leading 4PL Greek company enjoys detailed, instant access to accurate information on its financial results at multiple levels
Country
Greece
Client
Synergy SA
Project
Enterprise Resource Planning
Solution
Epicor ERP
Instant access to data
Complete monitoring and control of shipment invoicing
Support cash flows and payment planning
Ad hoc finance and business report generation
Synergy provides a complete spectrum of state of the art supply chain services that offer high added value (4PL). The company faced many challenges, specifically in the fields of:
- cost accounting of services and generation of profit & loss statements at service, customer, and building levels;
- generating of profit and loss statements at a company level, in a timely and transparent manner;
- monitoring the bills of lading issued by the company’s warehouse management software
- financial monitoring of suppliers and optimum payment planning;
- asset utilization, to generate cash flows.
The structure implemented with the Epicor ERP (enterprise resource planning) platform and the mapping of information relating to the services, buildings and customers, provides Synergy with immediate information concerning results. This helps attribute expenses to an appropriate cost centre, while using the advance allocation application has enabled them to allocate overhead expenses for services, customers, and buildings.
Overhead expenses are allocated on the basis of:
- financial data drawn from the software (e.g., turnover)
- non-financial data, which are different per period (e.g., using the facilities on a surface area basis, the number of movements per customer, etc.)
- predefined percentages
Moreover, thanks to the special bill of lading monitoring functionality, the system is automatically linked to the company’s warehouse management system to ensure complete monitoring and control of shipments and invoices.
Epicor ERP solution gives the Synergy management team access to immediate detailed information, hence enabling faster and qualitative decision making.
Synergy uses the Epicor ERP financial management application to ensure better monitoring of the company’s financial data. This means that they now have all necessary information available in one place to support the company’s cash flow and payment planning. The functions used for business activity queries (BAQ), dashboards, and BAQ reports enable Synergy to generate ad hoc financial and business reports.
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