Foley Family Wines Speeds up Cash Application with Centreviews Receivables Solution
Foley Family Wines is a family owned wine company comprised of an eclectic collection of artisan and premium wineries, brands and vineyards. Based in Healdsburg, CA, one of Northern California’s wine capitals, Foley Family Wines has vineyards, wineries, and estates in Napa Valley, Sonoma County, Lake County, and the Central Coast of California, as well as the Pacific Northwest and New Zealand. Founded in 1996, Foley Family Wines remains committed to preserving the integrity and individuality of each of their brands and wineries.
At A Glance
After a series of acquisitions and company growth, Foley Family Wines (FFW) was overwhelmed with piles of orders, invoices and credit memos. They needed to streamline their administrative processes.
Using Centreviews’ Receivables Solution, Foley Family Wines was able to create a standardized approach that improved cash flow, customer service and employee productivity.
Now that the Centreviews Receivables Solution is in place, FFW is looking forward to future upgrades that can further streamline its accounting processes.
Solution: The Centreviews’ Receivables Solution
Mary from Centreviews, worked with Joyce to implement the Receivables Solution, took note of Foley Family Wines’ existing processes and, working collaboratively with Joyce, set up an implementation cycle that would coordinate with the invoicing and payment cycle. The goal was to approve and post the credit requests into Warehouse Information Management System (WIMS) prior to the payments arriving from the distributor. However, since the staff of FFW had long used manual processes, Joyce knew the new process needed to be introduced gradually. She selected a salesperson to pilot the program and together they worked out all of the kinks before beginning to introduce the new process to the remaining sales team members. The Centreviews Receivables Solution removed the burden of entering the deduction data from the sales team. The credit/deduction requests are now submitted directly into the Centreviews Receivables Solution. They are routed electronically through Centreviews to the appropriate sales team member for the assignment of deduction codes then route automatically to the sales manager for approval. All approved credit memos are uploaded through a file exchange from the Centreviews Receivables Solution to the Foley Family Wines WIMS system. This efficient process enabled the approved credit memos to be posted prior to the payments being received, which in turn resulted in the elimination of payment to invoice mismatches and improved distributor relationships with more timely payments.