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Financial Value Chain Management (FVCM) is an emerging segment of the enterprise software market designed to enhance Enterprise Resource Planning (“ERP”) and Supply Chain Management (“SCM”) applications to
fill in the financial gaps between ordering, planning, logistics, execution and payment. In today’s enterprise, ERP software takes the orders, issues purchase orders and triggers requests for inventory while SCM applications assure the delivery of parts on a “Just In Time” basis. However, for many businesses in electronics, packaging and consumer packaged goods (“CPG”) there is an interactive sales process to define the product and pricing that begins before the Purchase/Sales Order, and in which process ERP and Customer Relation Management (“CRM”) systems are essentially void in supporting. Further, in the back-end of collecting payment and settling the order, ERP systems do not contain the entire transaction, and therefore lack the full information needed to productively resolve disputed invoices. FVCM focuses on the entire pre-order and financial process between trading partners to reduce the sale cycle in the front end and the Days Sales Outstanding (DSO) and disputed AR in the back end. |
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Our first customer was a US based medium size ($200 million annual sales) tool manufacturer with manufacturing operations in Taiwan and Shanghi, China.
COCOXT™ helped this tool manufacturer to fill in the gap in its enterprise legacy application, to conduct the process of deriving a product quote for its prospects real-time via the Internet. The manual process of conducting prototypes, estimating costs, and gathering information from past quotes have plagued the company with high levels of errors causing loss of business and/or loss of margin. COCOXT™ has automated this quote process and extended it to the Internet so that collaboration with the manufacturer’s operations located in Taiwan and Shanghai is conducted efficiently in real-time. The result is reduced errors, more efficient processing and a central repository of Quote details.
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