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TreeDots partners with Acme to accelerate payments reconciliation within the food and ingredients supply chain

Treedots, an All-in-one Food Ecosystem Management provider, introduced real-time payment reconciliation to accelerate delivery of food supplies, reducing delays between order placement and shipment.
“The impact can be felt almost immediately. With Acme's solution, we can reconcile payments in near real-time and eliminate any delays in shipping out orders. In addition to high customer satisfaction, this also frees up capacity from our sales and finance teams."

- Lau Jia Cai (JC), co-founder of TreeDots

Impact

Instant order-to-shipment
Orders that are paid for are immediately recognized and confirmed, resulting in almost zero delays to shipping out orders to F&B owners, even during peak hours.
8-10 hours saved a week on manual reconciliation
What took the finance 1-2 hours a day to process and reconcile has now been significantly reduced.
Minimal engineering effort
Instead of dedicating significant engineering efforts (2-3 engineers) to integrate across multiple banks, Acme provides one streamlined platform requiring minimal engineering resources and time.

Objective

As a B2B food supply platform enabling ingredient suppliers to re-distribute their unsold inventory to organisations who can use them (eg. restaurants, hawkers), speed in fulfilling orders is critical to TreeDots.

In the past, orders that are placed on the platform will be kept open until the TreeDots' finance team reconciles orders against payments that have been received. The largely manual process typically involves multiple handoffs between finance, sales, and operations teams, with the entire order to confirmation process taking anywhere from 1 to 2 hours a batch. This is not only resource intensive (time and headcount); it is also error prone.

What is more, orders tend to be placed during peak hours in the late evening. The large volume of transactions that needed to be manually reconciled typically meant late nights and high pressure for the TreeDots team.

Being a tech-enabled business, TreeDots was looking for solutions that can automate the reconciliation process, and improve customer satisfaction with shorter time windows between placing an order and receiving it.

Solution

TreeDots decided to leverage Acme's streamlined API platform to automate the recognition and reconciliation process.

By working with Acme to implement Real-time credit notifications, PayNow QR generation and Virtual accounts with their bank, TreeDots was able to receive notifications of all payments sent to their bank account, in real-time and with full details for reconciliation (eg. transaction reference; virtual account number).

The speed of receiving this information has been a game-changer for the business: Sales teams are now able to instantly know when a payment has been received, and immediately route orders to be shipped out. This is a stark contrast to the previous process, where they had to wait for the finance team to manually reconcile and confirm receipt of payments, a process that took easily 1 to 2 hours per batch.

From a customer perspective, the time from placing to receiving orders have also been significantly reduced.

Rolling this out for its Singapore business is only the starting point for TreeDots. With the solution up and working as planned, TreeDots is continuing to expand its automation and bank integration efforts in markets outside of Singapore, including Malaysia, Vietnam and the Philippines.

"Acme's solution has been seamless integrated into our internal system, allowing us to deliver the value proposition that we have wanted to deliver to our customers right from the start."
- Lau Jia Cai (JC), Co-founder of TreeDots
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