STRADE

Streamlining Operations and Gaining Efficiency with Salesforce & Accounting Seed

Meet STRADE, a global leader in aircraft engines and line maintenance services, operating as a subsidiary of SR Technics.  STRADE’s extensive services encompass processing orders for serviceable parts, offering flexible financial solutions, and maintaining a vast inventory of components, consumables, and expendables. As aviation experts, STRADE ensures that their customers’ inventory is filled correctly, and flights operate on schedule. With warehouses located in Miami, London, and Kuala Lumpur, they guarantee around-the-clock delivery for hydraulic, pneumatic, and electric rotables across major Airbus, Boeing, and Embraer platforms.

STRADE had already been utilizing Accounting Seed alongside AvSight to oversee their financial operations and sought process enhancement. Recognizing the need for external assistance to execute the project, Accounting Seed suggested Prodigy to lead the initiative.  Influencing Prodigy’s selection was our rapid responsiveness and adeptness in providing an inventive resolution.

Challenges

The primary trigger that prompted STRADE to seek a partner for Salesforce / Accounting Seed solutions was the substantial number of manual accounting processes they had to manage weekly.

Initially, when STRADE was a startup, handling payment orders in the banking system was entirely done manually. This approach sufficed in the early stages, but as their business expanded, it became clear that this method was not viable in the long term. Moreover, the finance executives recognized the potential benefits of directly integrating with their bank’s systems. STRADE placed a strong emphasis on data security, seeking to eliminate the possibility of altering transactions after they were authorized and ensuring complete traceability.

Solution

To overcome these challenges and optimize its operations, STRADE sought a robust solution that could automate vendor payments and eliminate manual entries. Prodigy stepped in with their expert Accounting Seed development services, tailoring the solution to STRADE’s specific needs.

We built a SEPA integration from Accounting Seed to their bank and included an approval process in Salesforce. The process was streamlined, it included bulk payments and approvals. These are sent directly to the bank and released for payment.

Michael Camacho – CTO Prodigy

The solution designed by our team encompassed the following key components:

1. XML File Creation:
   Prodigy developed a custom XML file creation in Accounting Seed, adhering to the bank’s instructions for seamless automation of vendor payments.
2. Integration with Credit Suisse Bank:
   We created a seamless connection to Credit Suisse Bank protocols enabling secure and efficient transactions.
3. API Service Development:
   Prodigy crafted a robust API Service, utilizing sFTP to establish a direct link for smooth data transfer and transactions.
4. Thorough Testing and Documentation:
   Our team conducted comprehensive testing to ensure flawless functionality, with meticulous documentation of the entire process.
5. Pre-Payment Feature:
   Strade benefited from a customized Pre-Payment feature, incorporating additional logic for cash disbursements and creditor identifications.

Impact

The three pillars of success of this solution centered around automation, quality, and security.

With Prodigy’s innovative solutions, STRADE achieved transformative results, saving valuable time and effort in managing high-volume transactions. The automation of vendor payments eliminated manual entries, streamlining the approval process, and ensuring data security and traceability. By integrating with Credit Suisse Bank and crafting a robust API Service, Prodigy empowered STRADE with an efficient and secure financial system.

In terms of saved resources, Sanja Mijic, Senior Finance Analyst at Strade estimates a significant
5-6 hours per week is being saved between processing and validating payments.

A major qualitative impact was the likelihood of error in payment processing was reduced significantly. e.g. IBAN is connected to the record. This integration removes the possibility of sending the wrong payment to the bank.

STRADE’s financial operations have reached new heights of efficiency and accuracy, thanks to their strategic partnership with Prodigy.  Michael Camacho – CTO Prodigy shares:  “We are now building to automate the creation of payables and this will completely automate their AP process from the creation of Payables to Payments to the bank.”

With Accounting Seed at the core of its operations and the seamless integration crafted by Prodigy, STRADE continues to soar as a global leader in the aviation industry. The success of STRADE demonstrates how your team can leverage the transformative capabilities of Salesforce and Accounting Seed especially when coupled with Prodigy’s expertise. This collaboration delivers customized solutions that fuel business expansion and excellence.

On Prodigy

What we liked about Prodigy was their openness and transparency

Sanja Mijic

Accounting Seed referred Prodigy to STRADE due to our exceptional level of expertise, a distinction held by only a handful of companies worldwide.

Contact us today to discuss implementing, optimizing or customizing Accounting Seed with Salesforce or AvSight