The Musgrave Group is a major Irish food wholesaler. Founded in Cork by the Musgrave brothers, Thomas and Stuart in 1876, it has grown to become Ireland’s largest grocery distributor. Today, the group has operations in Ireland, the UK and Spain. Musgrave is the largest private company in Ireland by turnover and has expanded by acquisition. Annual sales are over €4 billion.
One of the larger sections within the group is the Food Service Division, with thousands of customers across Ireland. Due to the implementation of SEPA* (Details Below) on a European-wide basis, this division had to change the way it processed direct debit mandates. Previously all paperwork associated with this process was held by the bank but now it is the responsibility of the supplier to maintain their own records. With a turnover in the millions, this paperwork became a very important asset for dealing with client queries.
Musgrave implemented TraX in their head office and deployed our light version of TRAX to all depots handling mandates. All mandates and mandate wavers are now scanned, indexed by account code and stored securely on the internal computer network for instant access by credit control staff. Thanks to the integration between TRAX and core business management software, Sepa documents can now be accessed by account code, date, IBAN, sort code and company name. TraX was the perfect business tool to manage this new requirement.
*The Single Euro Payments Area (SEPA) is a payment-integration initiative of the European Union for the simplification of bank transfers denominated in euro. As of February 2014, SEPA consists of the 28 EU member states, the 4 members of the EFTA (Iceland, Liechtenstein, Norway and Switzerland), Monaco and San Marino. The project’s aim is to improve the efficiency of cross-border payments.