Settle introduces two new features

These additions aim to improve the accuracy and efficiency of calculating landed costs, aligning with the company's goal of becoming the brand's primary finance and operations platform. The platform allows users to manage procurement, inventory, payments, and finance from a single interface.

Landed Costs is designed to better calculate the total costs associated with products. Brands using Settle to issue purchase orders and process payments can now automatically obtain precise landed costs for each SKU. This feature simplifies the addition of expenses like shipping and tariffs, using methods based on quantity or value allocation. This automation reduces complex calculations and manual errors, improving cost accuracy.

The Universal Catalog is a Product Information Management solution tailored for brands. It integrates with sales platforms, warehouse management systems, and accounting systems, ensuring that product information remains consistent and accurate. This integration facilitates easier management of product lines, bills of materials (BOMs), and variants, improving inventory management and forecasting efficiency.

Settle’s new features aim to help brands focus on sales and customer engagement by reducing time spent on cost calculations and inventory management. Brands interested in these solutions can access them for free for a limited time at Settle.com.

Challenges in cash flow management

Brands often encounter significant challenges in cash flow management and inventory control, which can severely impact their operations and growth. One major issue is the difficulty in accurately forecasting and managing cash flow, leading to potential liquidity problems that can stymie business development and operational stability. Additionally, the complexity of tracking and allocating costs – such as those associated with shipping, tariffs, and varying inventory levels – can result in errors and inefficiencies. These challenges are exacerbated by manual processes and fragmented systems, which can cause delays and discrepancies in financial reporting. As a result, brands may face difficulties in scaling their operations, optimising inventory levels, and maintaining financial health, all of which can hinder their overall growth and competitive edge in the market.