TradeCard Inc, the end-to-end financial supply chain service provider, has announced that California-based Ariat International, a leading manufacturer of innovative performance equestrian and casual footwear and apparel, has selected TradeCard’s financial supply chain services to optimise the financial processes in its purchasing transactions with global suppliers.
Ariat, a US$65M company distributing its products in over 3,000 retail outlets around the world, has already integrated its existing ERP system with the TradeCard Platform and run part of its global purchasing transactions through the TradeCard Platform over the past six months resulting in a reduction of processing costs by over 40%.
As a rapidly growing company, Ariat faced difficulties in effectively managing the huge number of paper documents generated through its global buying operations and was looking for a way to automate manual reconciliation and payment processing. With TradeCard, Ariat found a solution that not only allowed the company to electronically manage all documents and consolidate disjointed data into a single repository for management reporting but also offered value-added financial services such as credit protection and financing in an automated environment.
“Disjointed payment and shipment data and delayed visibility into critical transaction data, made it difficult to effectively manage cash flow,” says Jeroen Noordermeer, chief financial officer, Ariat International. “TradeCard allows us and our trading partners for the first time to have real-time insight into the transaction chain from order through settlement so we know exactly when payment is going out and our suppliers know when to expect payment, improving both our cash-flow management and trading partner relationships at the same time.”
“Ariat needed an easy-to-implement solution with immediate ROI in order to manage the company’s rapid growth and decided that TradeCard’s proven and innovative service could best help them quickly reach their immediate objectives;” comments Kurt Cavano, chairman and CEO, TradeCard Inc. “TradeCard’s open network strategy allows fast roll-out of all trading partners giving Ariat the transparency and efficiency it needs across its global operations.”