The New Settle: Scale your CPG brand faster and more profitably

New FeatureOctober 1, 20247 min read
Warren Brown, Head of Product

I’m soooo excited to write this post - the team at Settle has always been on a mission to help CPG brands scale faster and more profitably and today, we take that mission to another level.

You’ve known us for years as the leading working capital financing partner for CPG businesses. You’ve probably also known that there’s no better way for brands to pay their bills and manage their AP than Settle. Well, starting now, get to know Settle as the best place for CPG brands to manage their end-to-end procurement and inventory operations as well! That’s right, the days of crazy spreadsheets, copy and pasting data from one system to another, and not trusting the result are over. Read on to learn how you and your teams can grow without adding headcount, save money, and understand your costs and margins by building your CPG operations on Settle.

Look what you made us do…

”I’m drowning in spreadsheets!”

“I don’t know / don’t trust my landed costs?”

“Too many POs, too many inventory locations, too many SKUs - as the business grows, my systems and spreadsheets can’t keep up.”

Sound familiar? We kept hearing these challenges from brand after brand, so we decided to fix procurement and inventory for y’all. Look what you can do now when you build your CPG operations on Settle:

Digital, automated procurement:

Tired of updating spreadsheets, Shopify, your WMS and your vendors when you add or change a SKU? We get tired just thinking about all that manual, error-prone work, so we built the Settle Universal Catalog - one place to manage all your finished goods, raw materials, BOMs, and variations. What makes the Universal Catalog so great?

  • All your items in one place: Yup, finished goods, raw materials, BOMs we’ve got ‘em. Do you have lots of different sizes, colors, flavors, etc - we built the Universal Catalog to handle all your variations. Are you a kit to stock or kit to order kind of brand - we’ve got you covered there too!
  • SKU Translator: Whatever your channel, vendor, or WMS calls a SKU, you can store them all on the same record in Settle so your sales, order and inventory counts always line up (sorry all you vlookup wizards - you’re gonna have to go apply your skillz elsewhere)
  • Super synced: Get started by syncing Settle to Shopify or your WMS and then watch us automatically keep Settle, your sales channels and your WMS synced together as you make changes
  • Embedded in all your procurement docs: Building a PO, Work Order, Inventory Transfer or Invoice - just start typing and your catalog items auto-populate. Bye-bye spelling mistakes, shipment mistakes and wasted time emailing back and forth

Struggling to track all your communications with manufacturers and 3PLs? We hear ya - get it all done faster in Settle. Now you can issue, update and collaborate on Purchase Orders, Work Orders, and Inventory Transfers all in Settle. The best part? We automatically update your inventory and cash flow information as you update each document. Did you just cut a new PO to prevent an out of stock? Now your whole team sees the incoming inventory alongside your on hand inventory in Settle. Moving inventory from your warehouse to your FBA? Struggling to remember when each partial payment on each PO is due? Settle has you covered - make your deposit and progress payments right from the PO!

Automated receiving:

Are you worried you’re not receiving all the units you specified on your PO? Not sure whether your coman updated pricing on their latest invoice? Struggling to find the time to do a line item by line item review of every shipment receipt, invoice and PO? We hear you. So we made Settle’s automated three way match (3WM) even better! Now Settle automatically pulls in the line item details of your shipment receipts from your WMS, automatically matches them with the right PO and invoice AND automatically finds any quantity or price discrepancies. All you need to do is email your vendor and request your credit. (Oh, and we make it easy to track and use those vendor credits too! 👀 we see you CFOs out there)

Simple, easy inventory management and forecasting

Wait, you thought we were done? Nope! Just getting started! Now you can see, manage and forecast your inventory in Settle, by SKU, by location and by channel. No more spending hours every day logging into 5 different systems just to know your inventory balances - we automatically pull balances from all your warehouse locations. We show you the inbound from your POs (with expected arrival date). We help you manage transfers within Settle and auto update balances at each location. We connect to your sales channels like Shopify, Amazon, and Walmart eCommerce and keep inventory updated based on sales. We take a look at lead times, on hand, on order and historical demand and automatically tell you which SKUs are getting close to stocking out and we make it fast and easy to place that replenishment PO from the same system. Imagine what you’ll do with the hours you and your team get back in your week!

Real-time landed costs, accurate COGS

We know it - CPG is all about margins and profitability now. We want you and your team to spend much less time calculating Landed Costs, COGS, margins and profitability and much more time growing your margins. With this release, you can quickly and accurately calculate Landed Costs on every PO - even if the shipping, duties and other bills haven’t come in yet. When they do come in, it’s drag and drop easy to update the additional expenses and see the impact of your revised Landed Costs throughout the system. Do you have a bunch of cost reduction projects on the go? Pull up any SKU in your Universal Catalog and easily see the Landed Cost trend over time. There’s more! We also help you get accurate financials done every month with our EOM Inventory Report - showing you, your accountant and your bookkeeper starting and ending inventory balances, accurate COGS and needed adjustments - right at your fingertips. Know your margins, grow your margins - that’s our philosophy!

Faster, better payments - in the same platform

Don’t you get tired of copying invoice and payment info from your AP system into your spreadsheets or IMS? Mistakes get made, duplicates get created - why can’t it all just work together? It can and it does in Settle. Not only do you get all of the best in class AP automation you’ve always known us for (schedule bills, manage approval processes, auto-reconcile with accounting), now we also:

  • Auto-link payments and POs: No more AP scrambling to find a PO to match a payment with. No more bookkeepers spending hours figuring out how to categorize a PO deposit. With Settle, now you simply initiate a standalone payment right from the PO, we link the payment and PO and ensure the journal entries get done right, the first time.
  • Fast, easy, reconciled standalone payments: Need to make a payment without an invoice? Want to make sure the accounting gets done right? We do too! Now you can make standalone, invoice-less payments in Settle and automatically reconcile them into QuickBooks or NetSuite.

Still the best transparent and non-dilutive working capital for CPG around:

Lest we forget, in addition to all of the powerful procurement, inventory and payments capability now built into Settle, we’re also still the best financing partner around for growing CPG brands across the US.

OK, that’s it for now. If you made it this far, you must be interested. So if you want to learn more, find a “Talk to our team” button and see how much time and money you can save by building your CPG operations on Settle. Oh, and in case you’re wondering, we’re not even close to being done. The team is already heads down, hustling and making all of the above even better - watch this space for more updates. Keep hustling!

SharePlatform iconPlatform iconPlatform icon

Subscribe to our newsletter


OR

Recommended Articles

What Are Net Terms?
Learn4 min read

What Are Net Terms?

Making use of net terms can enable both buyers and vendors to increase their profitability and sales dramatically. This is what net terms are.

Settle Spotlight Series: Q&A with Vividly
Learn9 min read

Settle Spotlight Series: Q&A with Vividly

We sit down to chat with Alyshah Walji from Vividly, a trade promotion management (TPM) software built by and for the consumer packaged goods industry.

What is the Cash Conversion Cycle?
Learn6 min read

What is the Cash Conversion Cycle?

A company’s cash conversion cycle can speak volumes about its operational efficiency and financial stability. It can also determine whether people get paid on time.

Accounts Receivable Factoring 101
Learn4 min read

Accounts Receivable Factoring 101

Accounts receivable factoring can help companies can improve their financial stability and cash flow. We’ll explain what it is and how it's beneficial in our guide.

How to Create an Invoice
Learn6 min read

How to Create an Invoice

Creating invoices can be tedious, especially for new businesses processing everything manually. Learn how to create invoices effectively and efficiently with this detailed guide.

Settle Spotlight Series: Q&A with SourceMedium
Learn14 min read

Settle Spotlight Series: Q&A with SourceMedium

In this month’s Settle Spotlight Series, we chatted with Will Holtz from SourceMedium about how interconnected data can be a superpower for brands in hyperscale mode.

Why Supply Chain Visibility Matters and How to Achieve It
Learn5 min read

Why Supply Chain Visibility Matters and How to Achieve It

Improving supply chain visibility is becoming a priority for many companies, as it’s essential for streamlining operations, boosting efficiency, and maintaining strong customer satisfaction for consumer brands.

Do I Need an ERP to Manage My Supply Chain?
Learn4 min read

Do I Need an ERP to Manage My Supply Chain?

Effectively managing a supply chain is essential for any consumer brand working with a network of suppliers, distributors, and partners. If you're considering an ERP for your business, here are some key factors to evaluate to ensure it meets your supply chain needs.

The 2024 Settle Staff Picks Holiday Gift Guide
Learn2 min read

The 2024 Settle Staff Picks Holiday Gift Guide

Do you really need another gift guide this time of year? Our Settle team spends so much time obsessing over our customer brands, that the right answer is obviously yes. We have compiled the inaugural Settle Staff Picks Holiday Gift Guide, with the most fire small brands out there. So read on for ideas from stocking stuffers to travel accessories – for everyone on your list. And join us in shopping small this holiday. 

Settle 2023 Product Wrap
New Feature3 min read

Settle 2023 Product Wrap

A year in review of Settle's product releases that make running CPG brands easier.

Your purchasing process. Made simple.
New Feature2 min read

Your purchasing process. Made simple.

We brought simplicity to bill pay. Now we’re bringing it to the purchasing process, with end-to-end support that takes a load off your plate.

Invoice vs. Receipt: What's the Difference?
Learn6 min read

Invoice vs. Receipt: What's the Difference?

Invoices and receipts are similar in concept, but differ in the details. Here’s what differentiates invoices from receipts, and why it’s important to understand.

The CPG Guide to Managing Tariff Uncertainty
Learn2 min read

The CPG Guide to Managing Tariff Uncertainty

Proper planning is key to protecting profit in times of tariff uncertainty. With potential plans to impose a 60% tariff on Chinese goods and a 10% to 20% tariff on other imported goods, many CPG brands are taking 4 key steps now so they don’t get a shock to their COGs.

What is an A/P Aging Report?
Learn6 min read

What is an A/P Aging Report?

The Accounts Payable Aging Report is an essential tool for businesses with a large number of accounts payable to track. Here’s a general breakdown of A/P Aging Reports.

What Are the Consequences of Equity Dilution?
Learn5 min read

What Are the Consequences of Equity Dilution?

Equity dilution can be a very concerning process for shareholders who are unfamiliar with its consequences. This is how to avoid equity dilution and keep stocks healthy.

What is the Accounts Payable Process?
Learn4 min read

What is the Accounts Payable Process?

Accounts payable (AP) refers to all the payments that a business owes its suppliers and creditors. Neglecting your accounts payable process can lead to production and supply issues.

Black Friday CPG Prep Checklist
Learn6 min read

Black Friday CPG Prep Checklist

Black Friday sets the tone for your business’ holiday season. Start early on forecasting demand, devising marketing strategies, and preparing your site.

How to Evaluate Accounting Firms
Learn7 min read

How to Evaluate Accounting Firms

Figuring how to find the right accounting firm for your company can be difficult. Here’s how to choose the best accounting firm for any business.

A Guide To Inventory Management for CPG
Learn6 min read

A Guide To Inventory Management for CPG

Learning to navigate inventory management can be a tricky part of growing your brand. Check out our guide to inventory management to find out more about it.

Non-Dilutive Funding Guide for CPG Brands
Learn7 min read

Non-Dilutive Funding Guide for CPG Brands

A popular source of funding is financing from angel investors and VCs. Yet many companies fail to recognise non-dilutive funding — where no ownership is lost.

Navigating Distribution And Retail Margins for CPG Brands
Learn8 min read

Navigating Distribution And Retail Margins for CPG Brands

For emerging CPG brands, navigating challenges like supply chain disruptions and retail changes underscores the critical importance of understanding and managing retailer and distributor margins, as it directly impacts profitability and success in the industry.

How to Find a CPG Distribution Partner
Learn5 min read

How to Find a CPG Distribution Partner

Partnering with the right distributor is arguably one of the most essential tasks for a retail company. Find out what to look for in distribution partners and how to source them.

Accounts Payable vs. Accounts Receivable
Learn5 min read

Accounts Payable vs. Accounts Receivable

Understanding accounts payable and accounts receivable is an essential part of business workflow. So how do they differ? Learn more about them in this guide.

An Introduction to Cash Flow Forecasting
Learn6 min read

An Introduction to Cash Flow Forecasting

A company’s ability to make a cash flow forecast is essential in the world of modern business. Here is everything you need to know about cash flow forecasting.

What Is Amazon FBA and Is It Right For You?
Learn7 min read

What Is Amazon FBA and Is It Right For You?

Using Amazon FBA is a great way for companies to expand their scalability and fulfillment abilities. Here is how it works, and how businesses can benefit from it.

How Long Does a Wire Transfer Take
Learn7 min read

How Long Does a Wire Transfer Take

Wire transfers can be the quickest method of exchanging funds. Knowing how long it takes can help determine whether wire transfer is the best solution.

Guide: The ABCs of cashflow
Learn2 min read

Guide: The ABCs of cashflow

We put our heads together with the folks at IndieCPG to create a guide to the basics of cashflow for new (and maybe even not-so-new) founders.

Settle blog

Insights in your inbox

Join our newsletter and never miss an update on Settle's latest features and industry trends.