Settle Launches First Accounts Payable Solution to Automate Landed Costs for CPG Brands

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Aug 08, 2024, 07:00 ET

The new offerings streamline and automate manual tasks, empowering brands to reduce errors, save time, and focus on growth

NEW YORK, Aug. 8, 2024 /PRNewswire/ -- Settle, the leading cash-flow management platform, today announced two new product offerings, Landed Costs and Universal Catalog, to calculate instant, accurate landed costs. These new features further the company's mission of becoming the go-to finance and operations platform for brands, giving them one central place to manage procurement, inventory, payments and finance.

Growing brands spend tens of thousands of dollars and time annually trying to accurately calculate landed costs for their products. Brands who issue their purchase orders and pay their bills on Settle can now get automated landed costs on every SKU with precision and accuracy. It's as easy as linking a bill and adding additional expenses such as shipping and tariffs, and landed costs will be calculated based on quantity or value allocation methods, eliminating complex calculations and manual errors while providing confidence in the accuracy of cost calculations.

Settle's Universal Catalog is the only Product Information Management solution built for brands that is natively synced to the end to end procurement cycle. Universal Catalog seamlessly integrates with brands' sales platforms (e.g. Shopify), warehouse management systems, and accounting systems to ensure product information is always accurate. Expanding product lines and managing bills of materials (BOMs) across kits and product variants all become fast, accurate, and straightforward with Universal Catalog. This synchronized product data forms the foundation for faster, more efficient and reliable inventory management and forecasting.

"It's crucial for growing businesses to free up time so they can concentrate on sales and customer engagement, and that's exactly what Settle's expanding product offerings achieve," said Alek Koenig, co-founder and CEO of Settle. "By streamlining cost calculations and inventory management, we save brands time and money, helping them focus more on driving business growth, especially ahead of the upcoming buying season."

Brands interested in simplifying their operations and moving beyond complicated spreadsheets can start managing their BOMs and automatically calculating landed costs for free for a limited time at Settle.com.

About Settle
Headquartered in San Francisco, CA, Settle propels the growth of CPG brands by simplifying cash flow management. Through an integrated platform, Settle empowers consumer goods and e-commerce brands to elevate their financial operations with seamless vendor payments, purchase order 3-way matching, and transparent financing with Settle Working Capital. Settle proudly serves hundreds of high-growth consumer goods brands, including Branch, Soft Services, Dagne Dover, Truvani, HigherDOSE, and Olipop. Visit Settle.com to learn more.

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SOURCE Settle