One of the future benefits of a new XchangeIT platform pitched to newsagents around four years ago was computer-based reconciliation of magazine distributor statements. If my memory is correct this was pitched at the ANF conference in 2008.
For years, newsagents have told me this is something they want. I have supported it to XchangeIT on their behalf.
When asked at regular review meetings with the software companies established by XchangeIT earlier this year what they can do to add value to newsagents, my colleagues at Tower Systems have pushed for the implementation of computerised magazine distributor statement reconciliation. The time saving and business management benefits to newsagents would be considerable.
I was disappointed to discover recently that within XchangeIT the message of support for this initiative has become diluted or lost. Indeed, the report back through the XchangeIT business was that there was no appetite among the software companies or newsagents for the implementation of computerised statement reconciliation. Whoever put this position has ignored the consistent support for the initiative by me and Tower Systems on behalf of newsagents.
XchangeIT is a boon to magazine distributors and publishers, saving time and delivering access to data at no cost. I think it is essential it improves the benefits it delivers to newsagents.
Computerised reconciliation of statements could mean that newsagents who do not reconcile today can do so cost effectively and those who do reconcile today could save hours every month.
To make the process work, newsagents would need to report variations in supply (over and under) through their software. This would sure beat reporting it in any other way. The result would be more accurate business data, time saved and greater certainty around statement reconciliation and amount owed.
It’s an enhancement that should / could be delivered without cost to newsagents.
So, newsagents, what do you think? Do you support the idea of computerised account reconciliation? Please post your comments here…
If it was at an extra cost then i would say no. If at the same cost then yeah go for it …claiming credits is not that hard to do but i do understand some newsagents have this on a large scale and would be a problem
As I noted, no extra cost.
Maybe, just maybe, a more automated reconciliation process might even help those Newsagents who struggle to complete the process and make payment by the dreaded 20th of each month, to actually make the deadline. Would that not help the magazine distributors as well, making it win/win?
Not to sure how this would help make payments by the 20th ?
Shaun I can see processes as part of this initiative driving a a supply model where supply is closer to sales. Accurate two-way flow of data is the key to this.
What a saving this would make,all for it
We do almost everything re shorts and ordering extras etc. on line now, hardly make a phone call to Gotch or Network any more. Reconciling the monthly account is not the hardship it used to be ! Since anyone can print off their account from the website as soon as it is produced at the end of each month, we have at least two weeks to reconcile before paying. How much more “automated” can this process get?
h , i agree
h,
The current process is fragmented. Newsagents import invoices into their POS system. They then have to report supply variations through different supplier websites. They then have to enter those variations into their POS system.
Then there is the reconciliation process where credits must be matched manually between the statement and your records.
Its a tedious process and one that should be simplified through XchangeIT.
We should not have to be using supplier websites for this (and other functions). Its old, slow technology that should have been integrated some time ago.
The current system is a triumph of a generation of people who prefer paper to IT, who prefer pans and ink to keyboards who hold a position so out of step with what is possible that it makes one weep. Our industry could be faster, more efficient and more profitable for ALL, but the few hold us back.
Any time improvement on the time devoted to magazines would be a welcomed improvement. Far too much time is spent on the retail display, and return of magazines. The accounting side should be much faster.
The process, if developed well by all IT partners, should see only what the software can’t reconcile requiring time to consider.
I have never been asked by XchangeIT. If they had asked me I would have said I WANT THIS.
Its a must do for Newsagency Specialists. I think the the owners of XchangeIT in this case are holding Newsagents back.
I have found reconciliation to hard and have resorted to “trusting” the supplier. The only thing i will check now is the shortages are credited. It is a huge worry as an error can easily occur. When the electronics dont work and returns are not accepted often the time taken doesnt warrant the cost of the return. To phone and wait for the operator is to time consuming when you are the only one in the store. Consequently I early return magazines on arrival to avoid the problem later. XchangeIT could be great but is misused by the owners. It amazes me how they will send you additional mags when you still have them in stock yet when you sell out they never send additional stock. I know I lose some sales but it is easier to manage this way and also helps the cash flow. 25 Moshi Monsters this week when i havent sold more than 10 in the last 3months. I refuse to hold their stock and pay for it so 13 went back. they can replenish IF i run out. (Which they wont)
Wally this is what concerns me – the process is so poor due to (deliberately?) arcane practices by the magazines distributors and XchangeIT that many newsagents have given up undertaking basic business checking processes.
Off topic , but has anyone recieved a magazine called S MAGAZINE, A $29 MAGAZINE FILLED WITH ABSOLUTE CRAP. I have no problem with magazines containing naked women but this one is out of the ordinary , i think they might call it Art but is more like some dirty old mans photo collection and is borderline wrong .
Wally, I feel for you too!
I hate the fact that if you have sold one title back in 1812 you cannot cancel it because your sales history is above zero. Can ACP and GG reset the default to <1 please?
Brett, I’ve never had a problem canceling G&G titles but ACP drive me crazy as there “system” calculates 2 sales out of 50 delivered as an “average” of two sales when in fact the average is 0.4 sales and won’t let you adjust your own supply. An email fixes this but should not be necessary and costs a lot more time. Please fix this ACP!!!!!
Brendan,
After months of effort we finally got G&G to supply us what we require now they are playing funny buggers again. Who mag which normally sells well cut back by 50%, Hello mag does not sell well supplied 60% extra? This on top of a comment from G&G that they may have to review our account or we may have to be a sub agent if we keep stopping stock titles we do not want to carry. My wife has taken this as a threat. The sooner this distributor is bought or disappears the better, as far as i am concerned.
And will they make the B P or 7-11 a sub when they are getting next to nothing try ACCC
I’ve been contacted by several newsagents scared to comment on this. They have never commented on the blog before but wanted me to record that they want a more automated process for account reconciliation.
I can understand why people are scared i think, with the investment they have in their business they do not want anything that may harm this investment. Correct me if I am wrong.
That thing does not go on anymore surely. At least they can click on the like button.
To much hiding in the back ground is a real problem . Speak up if you want to say something ,you don,t have to use your real name and only mark knows your info. Speak your mind .
When we first started in the business we found the reconcilliation process quite daunting. To really cover all bases effectively the process needs to be handled from start to finish by one person. And that person carries a lot of info in their head to connect the dots. In a business of our size (magazine turnover $70-80k monthly) thats not physically possible. So automated reconciliation would be a welcome boon for us.
In general we remain amazed at how relatively little effort and investment the publishers have put into automation generally. Without independent suppliers like Tower we would be up s… creek. There seems from the publishers perspective either a want to cater for the lowest common denominator, or a deliberate intent to be as obtuse as possible and use the confusion to take advantage of agents who don’t diligently check their accounts.
We have never found an error to our favour, but we have found several which go the other way.
Bring it on.
Yes please Mark
Sure, Mark. Why not.
John
Sure, Mark. Why not.
I’m 100% behind the implementation of such a process.
Would save so much time All for it
Great idea. Lets do it.
Would be a great addition to the software.
It seems to me that XchangeIT should have canvassed more newsagents about this.
Yes Please
Every minute saved on back office procedures is a minute to devote to improving sales. We win and so do the magazine publishers. How can they be negative about that? It would be easy for them to survey us for input. Why don’t they? It beggars belief that any newsagents would not want this facility.
Brendan this has to be a focus for us – reviewing processes and saving time while at the same time improving accuracy.
i find reconciling the network statement very complicated compared to the g+g one.
i generally have discrepancies when i early return titles which have delayed billing.
i think an automated system could only be better than the current.
Peter this is why we need to get this project done as the process itself would bring a consistent structure to all magazine distributors.
Network was easy before they changed to a new way of doing the invoices .Each invoice number and the the stock on that invoice was what was on the statement it was so easy but do they give a shit .G/G chargeing when back orders or more stock ordered turns up weeks later is a bloody bugger it means for a lot of chaseing stock and then marrying it all up ,realy no need for all this .Sometimes the stock comes on the next month but but still want their money, then if you do not get it you can at times be refused a credit
Yes please for all computer systems.
I agree David. If only XchangeIT would act.