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Seafood Provider Leverages IoT for Efficient Data Management and Forecasting
Applicable Industries
- Finance & Insurance
- Food & Beverage
Applicable Functions
- Sales & Marketing
Use Cases
- Demand Planning & Forecasting
- Time Sensitive Networking
Services
- System Integration
The Challenge
Icicle Seafoods, one of the largest and most diversified seafood companies in North America, was facing a significant challenge with their legacy accounting system. The in-house, DOS-based system was unable to provide access to data in a useful, dynamic format without extensive manual effort. The company was spending too much time manually translating sales, inventory, accounting, and general ledger data into a useful, dynamic format. Information was locked in PDFs and other inaccessible file types, making it difficult for the company to use their data for creating simple schedules and financial statements. More complex functions, such as analysis and forecasting, were well beyond their reach. This inefficiency presented a real problem for a company whose success depends on getting products from fisheries to market as quickly and efficiently as possible.
About The Customer
Icicle Seafoods is one of the largest and most diversified seafood companies in North America. The company is continually innovating in order to process products within hours of being caught, and to streamline distribution for the freshest seafood possible. Their success depends on getting products from fisheries to market as quickly and efficiently as possible. However, their legacy accounting system was unable to provide access to data in a useful, dynamic format without extensive manual effort, which was hindering their efficiency and decision-making capabilities.
The Solution
The company's controller, having used Knowledge Works in the past, recognized it as the solution to their data challenges. Knowledge Works was brought in to help Icicle Seafoods automate the extraction and preparation of data, and the generation of daily, weekly, and ad hoc reports. Sales, general ledger, receivable, payable, and profit reports could be run at regular intervals, and the company could respond quickly to requests by end users to inform sales planning, capital expenditures, and a wide range of other decisions. Knowledge Works was able to integrate with the firm’s accounting system, without any difficulty. As a result, the ability to provide automated reports to key business users saves a significant amount of time and allows decisions to be made on the freshest data possible.
Operational Impact
Quantitative Benefit
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