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Helping TOEFL to realise efficient synergy between supply chain platform and ERP and integrated operation of business and finance

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  • Bulk Trade

  • Agricultural Trade

  • Supply Chain Finance

ADM

  • Oilseeds, Maize, Wheat

  • Nourishment

  • Forage

  • Customer Profile

    TOEFL International is a wholly owned subsidiary of ADM in China, which was founded in 1905 and is one of the world's largest oilseed, corn and wheat processors. The company started as a flax processing company and has developed into a large international group covering food processing, storage and transportation, and global trade.ADM purchases, processes and distributes agricultural products globally, connects farmers and consumers, and ensures a stable supply of food and raw materials. It also has an extensive logistics network, including ports, railways and warehousing facilities, to ensure the efficient transport of products to global markets. As a major global trader of agricultural products, ADM's price and supply dynamics have a significant impact on international markets.

  • Informatics Challenges

    1. Separation of the business centre Ultra from the back-office financial system AS400;

    2. ADM's self-developed business centre, Ultra, unified management of customers, suppliers, purchase and sale price master data, unified management of sales contracts and procurement contracts, but lack of follow-up financial management and inventory management;

    3.The original financial system AS400 operating mode is very old, urgent need to replace: sales invoices entered manually; do not distinguish between ‘advance/receivable’ accounts, the next month according to the balance of the general ledger processing; account background set up a fixed account, not able to see the impact of the general ledger; the system interface is similar to the code entry, you need to remember the number and customer code for each module entry; the system does not have an approval process. The system interface is similar to code entry, and it is necessary to remember the number and customer code of each module; there is no approval process in the system, and the document process is offline to approve the application; the finance manually exports the invoice information, and invoices are issued manually; the finance manually exports the supplier invoices, and matches the data offline; the finance bank payment is made offline to go through the payment process, and manually entered into the system; there is no function of exchange gain/loss and currency revaluation; the finance manually exports the data for the external report and handles them in the form; and there is no concept of the system closure.


  • Solutions

    1.Through NetSuite and its self-developed business platform Ultra, reshaping the overall collaborative process in the middle and back office: commodity master data created by NetSuite and synchronised to Ultra, customer master file, supplier master file, SO and PO synchronised by Ultra to NetSuite, to do the subsequent receivables and payables closed-loop management;

    2.Financial automation management, to solve the AS400 various defects:

    ① CSV transmission or interface transmission, do not need to enter each invoice;

    ② according to the documents module is directly divided, without the need to adjust the reclassification at the end of the month;

    ③According to the documents can be filtered receivable/payable, advance receipts/prepayments and other subjects, the relevant documents have automated vouchers and general ledger impact;

    ④ With its own approval workflow, set up the voucher approval process in the system;

    (vi) Setting up the process of account closure and data locking after the system closes the accounts;

    (vii) The system directly issued monthly external reports;

    3.Financial personalised management:

    ① supplier invoice three-way matching: matching rules configuration, gold tax invoice upload, three single matching results report;

    ② receivable invoice splitting and merger billing: NetSuite system receivable invoice splitting and merger function configuration;

    4.Real-time issuance of a variety of business and financial analysis reports, to achieve true business and financial integration and operational automation.