With international trading, we need to be on top of our game, and AccountMate gets us there.
Petaluma, CA (PRWEB) May 20, 2014
Leveraging AccountMate as their financial management backbone with third party vertical solutions, Hampton Forge, Ltd. has a comprehensive front-to-back office solution that accommodates their global, multi-million dollar business. “We’re completely satisfied with AccountMate in all aspects: inventory management, forecasting, purchasing, reporting,” said Kenneth Siletski, Hampton Forge Chief Financial Officer. “With international trading, we need to be on top of our game, and AccountMate gets us there.”
Founded in 1992, Hampton Forge is a privately-held design, importing, marketing and sales company headquartered in Eatontown, New Jersey. Currently the company employs approximately 40 people in five locations in Asia, South America, and the United States.
Recognized as a key innovator in the tabletop and housewares industry, Hampton Forge creates exceptionally designed flatware, cutlery, serveware and metal-based kitchen tools. In addition to its branded Hampton Forge collections, the company markets private label products for retailers such as Walmart, Williams-Sonoma and Target.
With the help from AKA Computer Consulting, an AccountMate Business Partner, Hampton Forge leveraged AccountMate’s SQL business management system with integrated third-party solutions to fully automate their international business processes.
Keeping pace with sales and maintaining optimal stock levels became increasingly challenging as the company expanded to five locations in Asia, South America, and the United States. AccountMate’s Business Intelligence Powered by ClickBase module provides them dynamic business insight with real-time analysis and reporting capabilities.
Company personnel can analyze with dynamic ‘slice and dice’ and drill-down capabilities to leverage data and to report what matters by sales person, department, division or region. Data is obtained from the Sales Forecast and Demand Planning Report and provides “a forecast that is tied directly to cash flow projections,” said Siletski. “We can see our entire business from acquisition to cash receipts instantly.”
Consolidated Ledger enables Hampton Forge to quickly combine account balances and budget information from multiple companies into a single unified ledger to present consolidated financial statements, other reports and organizational metrics at any given time.
To solve inventory and shipping challenges, AKA Computer Consulting customized AccountMate logic by adding received dates to the inventory and travels from location to location. As a result, the necessary internal system required to pull orders utilizing the FIFO (first in, first out) inventory management technique was automatically generated for every company warehouse around the world.
Leveraging AccountMate’s open database architecture to integrate vertical solutions was seamless and solved inventory management, bulk picking, shipping, commission payment, and EDI challenges.
With the integration of Accurate Direct Access Remote Terminal system (ACCU-DART), Hampton Forge has a real-time, automated inventory management and shipping solution. Using radio-frequency bar-code scanning technology, ACCU-DART automates inventory management, controls FIFO inventory processing and instantly updates AccountMate. This supports a knowledgeable workforce that ensures the continuum between planning, picking and shipping. Routine cycle counting is tailored to focus on items with higher value, higher movement volume, or that are critical to business processes by season, design-type or warehouse.
“After using the AccountMate system and ACCU-DART for 12 months, year-end inventory was off by under $1,000,” recalls Siletski.
With the increase of internet orders generated, Hampton Forge needed to pick, pack and ship small packages. ShipIT integrates directly with UPS and FedEx, and posts the order status online instantly, providing shipping and tracking information to the consumer on-the-spot.
Calculating commissions to inside/outside sales representatives was complex. To solve this challenge, Hampton Forge installed Sales Commission Module by AKA Consulting. Designed to automate commission payments, Sales Commission Module seamlessly integrates with AccountMate so every transaction is posted in real time.
To automate order acknowledgments, invoices, ASN’s and other status updates with customers Hampton Forge needed an Electronic Data Interchange (EDI) solution. Auto-generated e-mail alerts report key inventory and sales information and document time sensitive operations. A bulk picking solution that supports wave picking from bin locations and for multiple orders helped solve warehouse inefficiencies.
Utilizing AccountMate and vertical third party solutions, Hampton Forge has a sophisticated business management solution that automates warehouse functions and handles international business requirements with minimal effort.
Founded in 1984, AccountMate develops and markets fully modifiable business accounting software. Systems range from single user versions to those that support hundreds of users simultaneously. AccountMate software is available for local installation or as SaaS. It is distributed exclusively through a worldwide channel of authorized solution providers. AccountMate can be reached at (800) 877-8896 or at http://www.accountmate.com.