 |
 |
|
 |
|
 |
|
 |
|
|
 |
 |
 |
|
The Company Headquartered in Egan, MN, Buffets (www.buffets.com) is one of the nation’s largest restaurant chains with over 360 company-owned and 19 franchised locations in 37 states. It has operated for more than 20 years under the Old Country Buffet and Hometown Buffet brands with a commitment to serving high quality, freshly made “home cooking” for the whole family in a welcoming atmosphere. The problem Contract price compliance monitoring was labor-intensive due to large invoice volumes and insufficient reporting automation. Manual compliance resolution efforts resulted in recovery delays that could be greatly enhanced by automated matching. Rebate processing was a 5-6 week process from quarter end. There was a lack of visibility to aggregate food spending necessary to maximize vendor negotiation opportunities. The solution Only Tibersoft offered Buffets the benefits of a dedicated solution – accuracy, speed and flexibility. Buffets’ overriding requirement in a new solution was having the flexibility to report on compliance issues based on their own naming conventions and information aggregation needs, and Tibersoft IQ was the answer. IQ provided several important capabilities that Buffets required – accurate information based on IQ’s proprietary modeling; the flexibility to add user-defined criteria at will; and the speed and control of being able to edit information and adjust criteria on their own as needed. In addition to providing item linking across their diverse distribution network, IQ also provides enterprise view reporting by ingredient item number for all items. Rebate processing is now fully automated, enabling quick, efficient rebate submission reports as well as the ability to view accurate “rebates-to-date” to support accrual calculations. The results Buffets realized a positive ROI in less than 6 months from the time the project was begun. The company implemented Tibersoft IQ™ in less than 4 months for all 5 of their distributors. The company realized a 250% increase in price compliance issue identification as a result of their ability to check pricing on every invoice for over 4,000 invoices per month with 50-100 line items per invoice. The rebate processing cycle was reduced by 40% from 5 weeks down to 3 weeks after their first quarterly reporting cycle. Buffets can now maximize their leverage with suppliers by having accurate, up-to-date purchase history information readily available. |
|
|||||||||||||||||||||||||||||||||||||||||
