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    How Trade Supply Group customizes financial statements across 14 locations

    Trade Supply Group, New York, operates a number of companies that specialize in the distribution of building materials for trade and retail customers. Each company’s management operates autonomously while benefiting from the economies of scale that come from being part of a larger organization. Trade Supply Group added Phocas financial statements software to its tech stack which customizes and automates month end reporting across 14 operating locations, allowing branch managers to monitor financial performance and make fast, accurate decisions.

    Trade Supply Group uses an Epicor Eclipse ERP system matched with Phocas data analytics and Phocas Financial Statements. We caught up with Scott Sokoly, Business System Administrator and Nicholas Aversano, Chief Operating Officer from Trade Supply Group to learn how they are using Phocas Financial Statements to automate and customize reports across the large business.

    A better approach than static reporting

    Phocas Financial Statements takes away the nightmare of producing consolidating financial statements that are broken down by branch division or consolidated for the entire company,” says Sokoly.

    The head office accounting team can consolidate or split the statements anyway the different companies want them and to any level of detail; be that a top level or viewing individual expenses.

    “The big value to us is the ability to push financial statements down to a pretty granular level,” says Aversano.

    “The accounting department is excited because it's less work to make a consolidated financial statement. In the past, we have five Excel sheets and you basically add them together. It's just busy work for them so I think they're excited they don't have to do that anymore,” says Sokoly.

    Branch managers are getting reports that they just didn't get before because the accounting department didn't have time to prepare that level of report for every branch manager.

    All levels of our mid-management will be utilizing financial statements just like they access all the other Phocas databases like sales, inventory, and purchasing. 

    “Sales people look at their sales information, purchasing at their purchasing information so now it's going to be managers looking at their performance, from expense analysis to margin monitoring. So I think the financial review is going to go deep into our business.

    “Phocas Financial Statements makes me feel empowered to give this information to all the people in an easy to understand format. We're able to make better decisions quicker and put information in the hands of the people who are really running our businesses day-to-day. As we're growing we need to be able to make decisions at a different level sometimes and this gives them the ability to do that," says Aversano.

    “I like nothing more than when I show up to a meeting and someone who I didn't expect is there with a bunch of spreadsheets from Phocas. They have data and they want to argue their position with data and Nicholas will speak to that data,” says Sokoly.

    These open discussions didn’t happen too much in our company before we started using Phocas data analytics. Using the software over the last 10 years has made us way more data-driven. You're eliminating that time where previously we had to show people information for the first time. Now we have a meeting and we all know what we are talking about. Everyone is coming in with their information, that makes for a lot more productive time,” says Aversano.

    To find out more about the new financial solution, watch this 35 minute video that includes an explanation from an in-house expert, a quick demo showcasing how it works and some feedback from early adopters.

    Watch recording

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