Challenge

Primark needed an AP Automation solution that could manage a complex global supply chain, provide real time transport visibility, and support their vendors with early payments to ensure products are on shelves in as little as six weeks from the time of ordering.

Solution

Primark now automatically match 98% of their 350,000 Free on Board (FOB) Incoterm invoices allowing them to pay key vendors to terms, calculate actualised margins and put in place supports such as supply chain finance. The result is a faster release of goods from dock to warehouse, as the invoice is also used for customs clearance, thus reducing demurrage costs.

Results

The implementation of SoftCo’s Retail AP Automation solution led to several key benefits:

• 350,000 invoices now managed by 2 AP staff.
• Suppliers paid before goods arrive at the destination depot.
• Goods released from dock reducing demurrage charges.