Wayfield - NUVI Group - Bank Statement Management
The NUVI group has operated mainly in Angola and Portugal since 1998, with operations worth over US$1 billion, and owns companies such as Kinda and Refriango.
The Challenge
Since it is not possible for Wayfield to ship goods without confirmation that payment is already in their accounts in Angola, bank statements must be uploaded several times a day. However, bank statements come in multiple formats, from multiple banks, in multiple currencies and for multiple companies. In addition, Wayfield employees, mainly in Angola, often work with slow internet connections. This caused a significant delay in obtaining the data needed to perform daily tasks and dispatch goods.
The Solution
ALLOS allows multiple bank statements to be uploaded to SAP at once. But more importantly, it retrieves data from a multitude of different formats and makes it consistent with a single format, which is very easy to manage. Also, to avoid any reconciliation issues, it compares transaction already considered, with the statement transactions, to avoid duplicates. Allos checks in detail the bank balances versus the SAP balances. All this, using ALLOS formulas that collect the data directly from the central systems.
The Results
With Allos, Wayfield is now able to manage and upload all updated bank statements into SAP with the speed, ease and frequency required, improving the previous speed of data entry by 400%, while reducing the people involved in the process by 50%. Fewer people now enter more statements, allowing you to significantly increase your responsiveness to your customers' needs.
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