One of the Uk’s largest franchised off licence and convenience chain with over 600 outlets. The Group have a turnover in excess of £500m per annum.
We were introduced to the client in 2015 via a Board level recommendation from one of our existing customers.
Our initial remit was to both to identify and recover Duplicate Payments and review current Accounts Payable processes.
The client’s purchasing unit, based in their Crewe HQ, are 10-15 strong. Working alongside this team, we very quickly spotted that potentially, recoveries could be made by focusing on differences between key supplier invoices and the terms and conditions in their purchase contracts.
We prioritised retrospective payment funding, the application of agreed discounts, rebate receipts and general pricing agreements.
An initial 2 year period was analysed, following a knowledge transfer exercise with the full buying team. We explained how we worked, and in turn understood their modus operandi.
An essential step to creating excellent relationships between our teams, which has been key to delivering our future successes.
As we identified potential recoveries, and sought approval from the client; suppliers were contacted and following a free flow of information and negotiation, agreements were reached, without compromising ongoing business relationships.
Funds recovered are routed directly to the client. Over the past 5 years, we have generated in excess of £1.5m, representing .1% of Accounts Payable expenditure.
Financial Controller, stated:
“S2M’s work has resulted in new processes being introduced, which has in turn reduced the number of discrepancies year by year. Having S2M alongside us is a huge benefit, helping us to keep on top of an ever changing environment and enabling the Purchasing team to focus on the day to day business.
We are delighted with the financial injection S2M have delivered to us, and look forward to a continuing long relationship.”
The client is looking to take on a wider range of our services, whilst at the same time benefiting from ongoing recoveries.