Data-Driven Agility with Acumatica
Within its multiple market segments, Korpack has to be very nimble and quick: they have to quote immediately and then fulfill winning bids quickly and accurately. Acumatica provides streamlined quoting, instant access to vendor pricing and services, and connections to sophisticated data analysis tools like Microsoft Power BI—which all help Korpack give customers the best options based on their needs.
“We know the pricing of 10 different vendors on the same product so we can compare them instantly and, depending upon those needs, satisfy whatever is the customer’s biggest priority,” Madison explains. “For example, if a customer is concerned about cost but is not worried about delivery times, we can provide a quote that fits those needs. Or, if a customer needs the packaging right away, we can use a more expensive vendor and ship that day if needed.”
Korpack works with more than 300 vendors and partners fulfilling orders from some 100 and counting regular customers in the Chicagoland area, which includes surrounding cities in Illinois, Wisconsin, Indiana and Michigan. “We would be nothing without our vendor partners,” Madison says. “Our vendor network and our employees are the backbone of the organization. We coordinate everything with our vendor partners to make it all work.”
Every one of the company’s 17 employees uses Acumatica, from the finance department to the mobile sales team to delivery drivers. “We use everything and anything in Acumatica to our advantage to keep information centralized,” Madison says. “We use the Acumatica Customer Management Suite religiously to track opportunities and leads, and what’s going on with a contact, and we love that Acumatica integrates well with the Microsoft Office suite because we are also strong users of Excel, Power BI and Outlook.”
Seamless Integration with Third-Party Tools
In 2017, one of Korpack’s retail customers added EDI as a new trading requirement. The management team at Korpack saw this request as more than just a compliance initiative –it was an opportunity as well. They could increase order volumes with this retailer and achieve greater supply chain efficiencies through automation. The company selected SPS Commerce Fulfillment, an EDI solution recommended by Acumatica. After a worry-free and seamless integration, Korpack is now 100 percent EDI-compliant with their customer’s trading requirements, and the company is looking at adding other vendors and logistics partners to their EDI program.
The company is in the process of adding FusionWMS for inventory management. Next month Korpack will begin using live scanners to pick, receive, move, and track inventory and see that action within Acumatica. Later this year they plan to add the Acumatica Manufacturing Edition to better track and manage the small-scale manufacturing Korpack does.
Madison likes Acumatica’s automation features for many financial tasks, which range from emailing accounts receivable notices to following up on a quote to pulling up information related to a customer quote. “It’s hard to pinpoint just one feature,” he says. “Acumatica helps us collect data we need to make informed decisions, and we are very good at taking that data and turning it into actionable decisions. We get to do that because Acumatica is so customizable and allows us to do that on the fly, based on live data.”
Acumatica Sets the Stage for National Growth
Korpack’s ultimate goal is to grow from a regional player to a national concern, Madison says. Company revenues grew 100 percent in 2016 and he projects sales to grow 30 percent year over year for 2017 and 2018.
“Once we fully nail down the platform and processes, integrate the additional software and really get it stable, we’ll begin looking at mergers and acquisitions to expand our locations and branches and eventually grow to a national presence.”
Acumatica has built-in functionality that will allow Korpack to operate with multiple warehouses nationwide and has integration tools and partners such as Avalara for VAT (sales tax) that will allow them to scale internationally. That growth, however, would be something addressed in a longer-term timeframe.
“We’re constantly trying to automate things with the goal of minimal data entry,” Madison says. “We want Acumatica to be quick and help us make as few mistakes as possible along the way to keep the customer happy—that’s what this business is all about.”