PHOENIX, AZ--(Marketwired - Sep 3, 2014) - DM Analytics, a leading provider of retail-focused software solutions based here, has added an EDI/Invoice Reconciliation solution to a comprehensive application suite that also incorporates Ordering, Receiving, Shelf Price Audit, Inventory and Tag & Sign modules.
The system monitors and automates store invoice reconciliation, thereby helping to increase retailers' margins. Offering a high degree of flexibility, it allows store invoices to be reconciled for cost, retail margin and CRV variances, and can be completely integrated with headquarters and store systems. Retailers can also tailor the solution to their own work flow, customize cost and margin tolerance rules, set user-defined default and vendor overrides for tolerance-checking, and assign item-level tolerances as part of the invoice reconciliation process.
Michael Wagner, President of DM Analytics, noted that the system proves especially effective in identifying and addressing cost discrepancies. Authorized users can investigate discrepancies for individual line items, determine the correct cost of these items and perform updates of products' cost at headquarters as part of the invoice reconciliation process and before transmission to the accounting system occurs. Cost discrepancies corrected for one store can be automatically corrected for all locations.
EDI functionality is yet another hallmark of the system. For example, data from vendor invoices issued in the DEX and NEX EDI formats need no longer be re-entered into any system by hand. Rather, it is electronically scanned into the retailer's invoice reconciliation system, then automatically approved and transmitted to the accounting system if it meets pre-set tolerance levels.
"With the cost of inventory consistently increasing and the competitive landscape putting additional pressures on margins, retailers need systems that allow them to properly handle reconciliation and keep margins as high as possible," Wagner said. "As evidenced by successful beta tests with several chains, DM Analytics' Invoice Reconciliation solution gets the job done."
The system is ideal for supermarkets, drug stores, dollar stores, hardware, consumer electronics/appliances, furniture/home furnishings, liquor, auto parts, hobby/crafts, pool supply, and other hardlines retailers.
About DM Analytics
Headquartered in Phoenix, DMA is a retail-focused software company that specializes in in-store systems (wireless and back office), data integration and Web-based reporting solutions designed to increase profitability through actionable, timely data and reporting. Its solutions enable enterprise-wide database and store systems visibility, providing retailers with the mission-critical, actionable information they want to see, the way they want to see it. While currently focused on food retailers, the company plans to expand its services to other retail sectors.