Trade platform cuts the paper-based tasks of financial processes down to size

A logical step after establishing a global supply chain is eliminating manual business processes.

Manually intensive financial processes can be particularly vexing in a global business model. That's why Walls Industries—a Dallas-based manufacturer of workwear and other apparel—is automating the financial aspects of its sourcing operations. Central to its efforts is TradeCard's global trade platform.

Says William Aisenberg, VP of finance for Walls, "TradeCard streamlines our global trade transactions and eliminates time-consuming data keying and paper-based tasks from our financial processes. "Our sourcing operations extend to the Far East, and collaboration with suppliers is vital. Automation of processes from procurement to payment optimizes cash flow, lowers transaction costs, and ensures our suppliers get paid on time."

Using the TradeCard platform, Walls is automating document reconciliation, discrepancy approval, payment authorization, receipt reconciliation, and chargeback management.

"Walls Industries is taking a strategic approach to its supply chain by synchronizing the movement of cash and goods," says Kurt Cavano, CEO of TradeCard. "The TradeCard Platform allows implementing collaborative financing programs to help vendors access capital and reduce overall costs. The result is that Walls is creating margin growth for itself by partnering with—and assisting—suppliers."

Other companies are taking the same approach. For instance, footwear manufacturer Stride Rite—a Lexington, Mass.-based maker of children's shoes, and the popular Keds, Sperry Top-Sider, Tommy Hilfiger Footwear, and Saucony brands—will implement TradeCard's platform and SourceView visibility suite to support purchase order management. Stride Rite expects to reduce costs associated with stock-outs, excess inventory, late shipments, missed deliveries, and retailer chargebacks.

"We are increasing our business capacity without adding staff or additional resources overseas," says Jim Luks, VP of finance and corporate controller at Stride Rite.