The client is an established European designer and manufacturer of fashion accessories. Initially, Fiducia assisted the client to set up a trading company in Hong Kong to facilitate the outsourcing of production to China.
The clientâ€™s staff handles product design and price negotiations from Europe and issues sales quotations via the Fiducia ERP system. Once the quotation is accepted by the customer, the Fiducia Operations team takes over and executes order processing and documentation using the ERP platform. At any time during the order cycle the client has easy access to the most up-to-date order status. While Fiducia prepares all necessary trade documents, the client maintains control over the product catalogue, sales and purchase prices, and the credit limit for each customer.
After successful product inspection and prior to shipment, the Fiducia Operations team prepares a payment request to pay the supplier. The client can approve it online, the treasurer processes the payment, and the accountant can update the ledgers. All of these processes are seamlessly integrated into the ERP platform.
At the click of a few buttons, the clientâ€™s authorized personnel can review the latest accounts receivable list, accounts payable list, and various sales analysis reports. When the monthly accounts are finalized, the client may review financial statements such as Profit & Loss, Balance Sheet and Cash flow Forecast.Order, documentation and payment flow via Fiducia ERP