Retail Accounting

Retail Accounting news – brought to you by CounterBooks – www.counterbooks.com


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CounterBooks launches Billing Control System at 2014 NACS Insight Convenience Summit – Europe

CounterBooks' retail accounting management suiteCounterBooks, a leading retail accounting management suite for oil companies and convenience retailers, launched the Billing Control System as a new module of the CounterBooks suite at the 2014 NACS Insight Convenience Summit – Europe in London, UK.

The Billing Control System has been developed after working closely with leading brand owners such as major oil companies and convenience retailers, which operate distribution channels such as franchises, dealers and other partnership variations.

John Roberts, managing director, said: “Many brand owners operate complicated and highly multifaceted financial models with their channel partners, which involve thousands of transactions throughout the year. It is business critical for both the brand owners and the channel partners to ensure that all necessary transactions have been executed, on time, to the correct party, for the correct amount, for the correct items under the correct terms. One small error can become highly material if replicated over a large retail network.

“Due to the nature of the deployment of CounterBooks, the database holds both sides of the transaction, which allows CounterBooks to reconcile and match each transaction so that exceptions can be reported for further investigation. We have been working with several brand owners and already identified numerous areas which require enhanced controls within their billing processes and procedures – these initial trials already demonstrate scope for substantial cost savings which would deliver a high return on investment.”

The Billing Control System is an extension of the powerful CounterBooks’ Retail Management Information System, which provides in-depth and accurate management reporting for brand owners across their channel partners to improve performance and manage risk.

To learn more about retail accounting, please visit http://www.CounterBooks.com

 

 

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Oil Companies Shift Focus

Oil Companies

CBRE have highlighted that major oil companies are shifting their focus from retail operations to exploration and production which is more profitable. Companies like Shell, Total, Chevron and ExxonMobil only owned 32% of petrol stations in Europe in 2012 compared to 43% in 2007.  As the oil companies sell off sites independent retailers are snapping them up meaning that their share of the market has increased from 16% to 20%.

You can read the full article here: http://www.petrolplaza.com/news/industry/MiZlbiYxNTkzMiYmMSYzMCYx