Case Study | Fayman Group USA, Inc.
How Kissinger's integrated solutions helped Fayman Group USA save $50,000+ in annual costs
The Company
Fayman International Group is a well-known wholesale distributor of packaged juices, meats, fish, and other deep freeze products. Offering a wide range of products, including pet treats and food, chemicals and compounds, dry goods, fruit products & packaging supplies – Fayman has over 100 years of combined international and national experience. With established subsidiaries, factories, and processing plants in Australia, Europe, Asia, and Africa, Fayman expanded their operations in 2020 to the United States with the opening of Fayman Group USA, Inc.
1
Centralized, automated reporting system
300+
Annual overtime hours eliminated
$50,000+
Payroll costs saved annually
The Challenge: Lack of Detailed Reporting
Despite being a well-established company in Australia and Europe, opening a new facility in the United States served to be quite challenging. From different accounting standards, to an antiquated legacy system that offered inconsistent support, to data being dispersed across 3 different programs that required manual entry to generate KPI reports – Fayman needed a reliable, flexible, and scalable system that would serve their unique job costing needs.
In addition to the ever-changing market conditions that impact their pricing, Fayman Group USA’s Accounting Team wanted an efficient and automated system that could generate detailed, real-time reports to help them make informed business decisions.
The Solution: Sage 100 with Customized KPI Reporting
Fayman partnered with Kissinger to first determine the best solution for their needs and then Kissinger Consultants created a thorough implementation and customization plan to roll out Sage 100.
“We created an advanced script with Sage 100 to pull inventory items out of their existing systems. This completely removed the need for manual entries and gave Fayman’s Accounting Team the cost KPIs and gross profit margin calculations they needed – all in one place,” said John Trainer, Kissinger Consultant.
Using customization tools built into Sage 100, Kissinger configured Sage 100 to meet all of Fayman’s needs, giving them a robust job costing and reporting solution that enables them to accurately price their jobs as they expand their plant growth in the United States.
“Job cost reports are how we run our business and with these detailed reports we can better forecast and price our jobs correctly. As a new facility, people and data were scattered and we were losing visibility into our key numbers. Now, we can keep things moving efficiently with accurate reports.”
Anthony Kimsal, CFO, Fayman Group USA
Results: Improved Operational Efficiency & Payroll Savings
Fayman now has one central and highly simplified reporting system that has significantly improved their ability to get access to real-time data.
“Job cost reports are how we run our business and with these detailed reports we can better forecast and price our jobs correctly. As a new facility, people and data were scattered and we were losing visibility into our key numbers. Now, we can keep things moving efficiently with accurate reports,” said Anthony Kimsal, Chief Financial Officer, Fayman Group USA.
Without the need for manual entries and with data from multiple exports aggregated into one automated report, Fayman has eliminated 300+ hours of overtime which translates into $50,000+ in saved payroll costs.
But, this is not the first time that Anthony has turned to Kissinger for a customized solution, “I have relied on the consistency of Kissinger to bring me the best ideas and products to fit my needs for a wide range of products for over a decade. I can always count on Kissinger to ask the right questions and to suggest alternatives that I may not even know exist. They don’t just tell me what I want to hear, they’re focused on finding me what works best and most efficiently. It is that kind of value, above any cost savings, that brings me back to Kissinger again and again!”
Now, with a dedicated Kissinger partner to help Fayman expand their Sage 100 system, they’ll continue to have consistent and reliable support to grow and adapt their system as their operations and financial reporting needs evolve.
“I have relied on the consistency of Kissinger to bring me the best ideas and products to fit my needs for a wide range of products for over a decade. I can always count on Kissinger to ask the right questions and to suggest alternatives that I may not even know exist. They don’t just tell me what I want to hear, they’re focused on finding me what works best and most efficiently. It is that kind of value, above any cost savings, that brings me back to Kissinger again and again!”
Anthony Kimsal, CFO, Fayman Group USA
Would your company benefit from having customized financial reporting like Fayman?
