The Company
Haldane Fisher is a prominent builder's merchant. They specialize in manufacturing timber products and supplying those products to the building and plumbing industries. Headquartered in Northern Ireland, they operate from over 20 branches across Northern Ireland, the Isle of Man, and northwest England. As the Group Financial Director, Neal Boomer oversees all financial aspects of the business and provides financial information to support the success of their commercial operations.
For Haldane Fisher, rebates are a common practice with their suppliers, varying from straightforward agreements to more complex arrangements. Some rebates are based on the volume and value of purchases, while others depend on the weight or number of items purchased. This results in a wide range of complexity across the agreements their finance and commercial teams manage.
Neal says, “Rebates are widely used across our industry by many suppliers to drive desired purchasing behaviors. This practice is so deeply embedded that we must adopt and manage it effectively. Consequently, rebates influence our purchasing decisions, including which suppliers we work with, which products we buy, and the quantities we purchase.”
The Challenge
From Spreadsheets to Efficiency
Haldane Fisher has been using Enable’s rebate management platform for over three years. Prior to adopting Enable, they developed their own method for calculating and tracking rebates using a series of spreadsheets.
Neal tells us, “While the spreadsheet approach worked at the time, it wasn't the most efficient. Despite having a dedicated team managing the process, it took considerable time to access the information we needed. Given that rebates are a significant part of our business, we wanted to digitize and automate these processes to obtain information more quickly and efficiently. This need for improved efficiency was the main reason we sought out Enable”.
The Software
Why Enable?
Neal tells us, “When choosing a rebate management software provider, the decision ultimately hinged on the system's capabilities and the knowledge and expertise of Enable. They clearly understand rebates and the associated complexities. Because they have focused exclusively on rebates as an industry and sector, their system covers all the various types of agreements we encounter. In contrast, other systems addressed only some of our needs. Enable has proven to be more comprehensive in this regard, making it the ideal choice for us.”
Positive Support and Onboarding Experience
Neal says, “The support setup from Enable is among the best I've experienced from a software provider. The support team is knowledgeable, understands our business, and is highly familiar with Enable. Whenever we need assistance, Enable is quick to act and help us move forward.”
Real-time Information
Businesses generate and store vast amounts of data within their ERP systems and other software solutions, creating an expectation for quick and efficient data access. As Haldane Fisher’s goal was to drive business performance and focus on margins and selling prices, timely access to this information became crucial for making informed decisions across the business.
From the finance team's perspective, obtaining information quickly and accurately at the end of the month is crucial for account management. For the commercial team, timely access to information about earnings from different suppliers helps them make informed purchasing and selling decisions. This prompt data access is essential for both teams to perform their roles effectively.
Neal explains “In my role, and for my team, providing timely information to our commercial divisions is essential. They need this data as soon as possible. Implementing a rebate management platform has been a game-changer for us. It allows us to deliver rebate earned information to our commercial teams just a day or two after our ledgers close at month-end. This is a significant improvement compared to our previous process, which relied on spreadsheets and took several weeks to compile and process the necessary data. The time savings and efficiency gained from using the rebate management system are invaluable.”
Facilitating Informed Negotiations
Haldane Fisher has approximately 350 trading agreements in the system. The commercial teams handle all negotiations with suppliers and finalize the deal details, which are then uploaded into the system.
Neal says, “Enable has provided the commercial teams with up-to-date information that aids in decision-making regarding purchasing and stock levels. This information is readily available when they engage in discussions with suppliers”.
Significant Time Savings
Neal comments, “For us, the time savings have been crucial. Receiving information quickly after closing our ledgers benefits both the finance and the commercial teams. They promptly know their margins and the rebates earned from suppliers. This significant time savings, from not having to re-key information and manage spreadsheets, can now be utilized to analyze the data coming out of the system and gain real insights that benefit the business.”
Streamlining Internal Collaboration
Neal continues, “A few years ago, managing rebates was seen primarily as a finance admin function. However, the Enable platform has transformed how we handle rebate information, making it more dynamic and accessible. Now, the commercial teams are highly engaged with rebate data, allowing them to participate in various decision-making processes. This has helped us work more closely together, fostering better collaboration between the finance and commercial teams.”
ERP Integration
Neal tells us, “Enable integrates directly with our ERP system, automatically importing all our purchasing data. Using the predefined agreements, it calculates the earned and due rebates. This centralized platform provides a single source of truth, eliminating the need for manual data extraction and spreadsheet calculations. This automation reduces the risk of human error and enhances the accuracy of our calculations by ensuring all data is processed within one cohesive system.”
Overall, Enable's platform has not only modernized rebate management at Haldane Fisher but also optimized operational efficiency, supported strategic decision-making, and fostered a more cohesive approach to managing supplier relationships and financial performance.
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Takeaways
Implementing Enable's rebate management platform drastically reduced processing time and enabled timely, accurate data access, significantly enhancing operational efficiency.
Real-time information from Enable's system empowered Haldane Fisher's commercial teams to make informed purchasing decisions and engage in more effective supplier negotiations.
Enable streamlined collaboration between finance and commercial teams and integrated seamlessly with Haldane Fisher's ERP system, ensuring accurate data processing and reducing human error.