J. Jill Automates Payment Processes, Standardizes Global Trade

Retailer implements TradeCard solution to automate processes from procurement to payment

Retailer implements TradeCard solution to automate processes from procurement to payment

New York — June 28, 2006 — Multi-channel retailer J. Jill has gone live with a supply chain solution from TradeCard as part of an initiative to optimize financial transactions in its global supply chain by automating procure-to-pay processes.

J. Jill completed its rollout of the TradeCard Platform in less than 90 days. The solution combines technology, a trade network, financial services and global support to enable its users to obtain visibility from procurement to payment, streamline discrepancy negotiation and better manage payment authorization, according to the solution provider.

"J. Jill is a forward-looking retailer that has clearly grasped the TradeCard vision of synchronizing the physical and financial supply chain to optimize the flow of cash and goods," said Kurt Cavano, CEO of TradeCard. "TradeCard automates payments based on terms set up by the user and allows suppliers to know what day they will get paid for a shipment. As a result, all parties involved in a transaction are better able to forecast cash requirements."

Cavano added that financial services available on TradeCard enable paperless invoice financing programs that can help suppliers get paid faster, including cash management tools that provide central access to information and opportunities to further reduce costs.

TradeCard said that the Platform provides flexibility and scalability to implement strategic initiatives in the future, such as early payment programs, to further improve margins. Users are able to add new suppliers to their systems.

Other companies using TradeCard's solutions include Columbia Sportswear, Rite Aid and Wolverine Worldwide. TradeCard Inc. is headquartered in New York City.


Additional Articles of Interest

— Stryker Instruments achieved success in inventory optimization by taking a no-frills approach and relying on collaborative supplier relations. Read more in "Keeping Supply Chain Transformation Simple," the Best Practices case study in the April/May 2006 issue of Supply & Demand Chain Executive.

— As you read this, someone in your corporation is treading the ethical line because of expediency, undue pressure or because they don't know better. How can we protect our organizations from flawed reciprocal business awards, conflicts of interest and a myriad of other issues? Read more in "Ethics and Procurement: The Case for Full Disclosure," the Final Thoughts column in the April/May 2006 issue of Supply & Demand Chain Executive.


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