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Scenario Planning Indentifies Risks & Rewards
Technology Category
- Analytics & Modeling - Predictive Analytics
- Platform as a Service (PaaS) - Data Management Platforms
Applicable Industries
- Software
Applicable Functions
- Business Operation
- Procurement
Use Cases
- Predictive Replenishment
- Supply Chain Visibility
Services
- Cloud Planning, Design & Implementation Services
The Challenge
ClearTrack Information Network, a supply chain software and services company, was facing challenges in managing its financial health due to the limitations of traditional Excel spreadsheets and basic accounting software. The company's financial executive, Traci Triplett, was relying on these outdated systems to manage ClearTrack’s financial health. However, these systems were creating time-consuming errors and redundancies that the small business could not afford. Understanding cash flow was critical to the company’s success, yet the limitations of the current system were hindering this understanding. With a lean financial team, Triplett needed a more efficient way to budget and forecast. She conducted an industry-wide search to find an automated system that would best meet her needs.
About The Customer
ClearTrack Information Network is a supply chain software and services company that enables the collaboration and management of global intercompany trade and logistics processes. The company empowers retail, distribution, and manufacturing companies to better manage global sourcing and direct importing activities. Offering cloud-based supply chain software across 20,000 vendors and 26,000 factories in 55 countries, ClearTrack enables customers to reduce costs, accelerate order flow, and improve partner performance. The company is based in Brentwood, TN and has 50 employees.
The Solution
After reviewing a number of options, Triplett invested in Centage to automate the budgeting and forecasting process for her growing organization. Centage’s solution seamlessly scales to handle biweekly cash flow and provides accurate insight into personnel expenses, which is the largest expense for many companies. The ability to quickly and seamlessly customize reports has also been invaluable as Triplett works to effectively communicate the financial health of the organization to key stakeholders throughout the organization. These reports are now used for regular monthly and quarterly financial reporting across the organization. By relying on Centage, Triplett and her team have saved nearly seven days of work, freeing her to focus on more strategic initiatives to support the ongoing success of the organization.
Operational Impact
Quantitative Benefit
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