Now it all adds up for Summit Electric Supply Co.
Greater control and full visibility help Summit double claims revenue. Vistex Solutions for SAP automate and accelerate high-volume processes.
“This has been a huge win for us. Our chargeback process is now much easier to manage and is extremely efficient across our company.”
David Wascom
CIO, Summit Electric Supply Co.
Overview
Summit Electric Supply generates and processes 1,700 chargeback documents per day. Prior to implementing the Vistex solution, the company managed the stream of information flowing to 35 vendors using a combination of custom-built legacy applications and manual, spreadsheet-based processes.
The predictable results: Summit had no visibility into missed or erroneous claims – or the profit leakage they caused. It also had poor visibility into the positive or negative impact of claims to the bottom line.
Solution
Summit was considering developing a solution in-house, but the company eliminated that option when it saw the capabilities offered by Vistex Solutions for SAP.
Vistex provides integrated solutions that leverage core SAP ERP and facilitate all aspects of claims management. Vistex solutions handle complex contracts and claims processing (via EDI, flat files, XLS and web portal), and simplify dispute management and financial settlement.
Results
With the Vistex solution implemented, Summit was able to automate its chargeback process and markedly reduce manual processing. And using EDI, the company went paperless, which significantly shortened the time required to turn around claims.
These changes produced a positive impact on revenue, reduced working capital requirements and, in combination with the solution’s sophisticated reporting tools, provided real-time visibility into the entire claims process, improved process management and program control, and enabled more informed decision-making.
But the most important result was this: Summit achieved a 118% increase in chargeback claims revenue.
About
Summit Electric Supply Co.
Ranked in the top tier of U.S. electrical distributors, Summit Electric Supply provides electrical components to electrical professionals and contractors, as well as construction industry professionals working on commercial, industrial, residential and marine projects. The company generates more than $420 million in annual sales through 28 service centers in the United States (New Mexico, Arizona, Texas, Louisiana and Oklahoma) – and one in Dubai, UAE.
Headquarters: Albuquerque, NM
Industry: Wholesale Distribution
Products: Industrial electrical equipment and supplies
Revenue: $421 million
Location: 28 service centers
Employees: 650
Solutions implemented:
SAP margin optimization solutions by Vistex
- SAP Paybacks & Chargebacks by Vistex