Bamboo Rose, a digital B2B marketplace for retailers (formerly known as TradeStone Software), announced Floor & Decor has chosen its collaborative Trade Engines solution to manage its PO to Payment (P2P) system, supplier management, product quality and compliance.
The solution will help Floor & Decor scale its backend business processes as it moves to a digital, cloud-based system, according to the company. With strategic plans for new stores, Floor & Decor was looking to improve its purchase order to payment processes.
“There’s no room for supply chain error in the new retail economy: retailers and suppliers need to work together in real time to bring competitive products to market quickly,” said Sue Welch, CEO of Bamboo Rose. “Bamboo Rose works with and helps manage the world’s largest retailers and importers, embedding decades of experience and intelligence into its B2B marketplace platform and proven trade engines. Floor & Decor now has the visibility it needs to scale to meet growing customer demand.”
The Floor & Decor team recognized that finance departments without a progressive P2P system to handle purchase orders and payments can experience a “reconciliation nightmare” that can have a ripple effect throughout the business. Paperwork discrepancies or late changes to orders can increase transaction fees, delay shipments, extend lead times, reduce fill rates and increase payment costs.
Floor & Decor ultimately chose Bamboo Rose because of its superior usability and its cloud-based software-as-a-service (SaaS) platform, which provides a reduced time to benefit, greater scalability, seamless integration and easy upgrades. In addition, Bamboo Rose is addressing the company’s product item management (PIM) and quality and compliance management needs all in one platform.
With Bamboo Rose trade engines, Floor & Decor has a clear picture of the entire item lifecycle process: from item set-up to the initial order, tracking and change orders, movements across oceans and through customs, to final delivery and payment.
“Our business model depends on having an effective supply chain that sources product directly, making effective vendor management critical,” said Trevor Lang, CFO at Floor & Decor. “To be competitive, you have to be both fast and accurate. Bamboo Rose will ensure that we have one version of the truth for PO management, and collaboration with our suppliers will give us visibility into the entire P2P process.”
For more information, visit flooranddecor.com.