Yello Media Group is the largest Print and Digital Marketing Company in the Caribbean, with over 20,000 businesses trusting them with their marketing. The companies that make up the group are spread over the Caribbean and Latin America, with over 25 individual Sage 300 databases between them.
The highly decentralized nature of the Yello group means a lot of flexibility is required when managing invoices and payments, as these often need to be allocated across multiple companies and territories.
In the past, all these transactions had to be manually entered in each affected company, which proved to be a major headache.
This complexity resulted in both operational overheads and compliance risks, due to the challenges of manually identifying and processing both sides of all inter-company transactions.
Yello implemented the Multi-Database edition of Orchid’s Inter-Entity Transactions module, which includes Cash Management features.
- Transactions now only need to be entered in one company, and Inter-Entity generates the corresponding Bank Services entries for the other company. This allows for the Bank Reconciliation to be done without issues.
- Inter-Entity Cash Management easily manages inter-company banking transactions. Its flexible setup options are able to handle the specific requirements that flow from Yello group's complex corporate structure.
A feature that allows for the reversal of inter-company bank entries across all affected companies was the icing on the cake!
Yello chose to use optional fields as the method by which inter-company transactions are identified.
- This easily allows for an invoice to be entered, with part of the cost being apportioned to another company from within AP or AR.
- The optional field flows through to the GL, and Inter-Entity then takes over and manages the inter-company postings.
Since Inter-Entity works at the GL level, it makes it easy for Yello to make journal entries that affect multiple companies, all at the same time. If an Inter-Entity transaction is not posted for some reason, it is easily identified within the system and remedial action can be taken to fix the error.
Shelldon Chin See, Business Analyst at Yello Media Group, says that Orchid’s Inter-Entity module has eliminated over 90% of the old issues.
There is no way we could manage the continued growth of our organisation without Orchid's Inter-
"Orchid Inter-Entity eliminated over 90% of the issues we had when manually processing inter-company transactions."
Shelldon Chin See
Yello Media Group