Grimsby Fish Merchants Association had to match up large numbers of IOUs with payments. With such a high transaction volume, a purchase order settlement software solution was needed.
Grimsby Fish Merchants Association was incorporated in 1911 to provide representation and support for the Grimsby fishing fleets which still provide up to 70% of chilled seafood sold in the UK.
In 2013, Grimsby Fish Market still remains the spearhead of the UK Fishing Industry. Grimsby Fish Dock and Fish Auction Market are open 24 hours a day, all year round. At the market no cash is used, members rely on a system of IOUs. At the end of the week, one of the GFMA’s main duties is to handle the settlement of these transactions. With only a small team to do it, a comprehensive and easy-to-use system was a necessity.
“Less is more”
Transaction information for payments from multiple payers to multiple receivers had to be quickly processed at the end of the week. Some of these payments may even credit another debit payment, so the final balance owed must be worked out. Reports also have to be written on the transactions made over various defined periods of time.
With only a small team to process these transactions, a simple to use bespoke purchasing software solution that could handle the settlements and reports was required.
Triangle provided a bespoke invoicing software solution which enabled the Grimsby FMA team to handle all the transactions and process them quickly. Transactions could be balanced against the bank payments made by the merchants, and the software stored historic transactions as well as membership data that was easy to access. Reports could then be produced on any dataset within
the system; with reports for both payers and receivers, as well as membership statistical reporting.
Why not get in touch, and we’ll show how we can help.