August 10, 2022

How Hint streamlined fragmented trade spend data with Cresicor

by 
Stu Kennedy
Community
Featured

In the world of beverage brands, Hint Water is considered an OG. Launched in 2005, they’ve navigated multiple consumer shifts, from relying on traditional retail to pivoting into DTC. Today, the brand is stocked in Target and Costco nationwide, but most sales come from their website.

Alisha Aiello, who manages Accounts Receivable & Deductions, implemented Cresicor at Hint to support the brand’s trade management optimization. We dive into how Cresicor adds value to their business and the core benefits of using the trade management system, in addition to:

  • Alisha’s advice to other trade managers experiencing hyper-growth
  • Pain points in trade management that Cresicor resolves for Hint
  • How Cresicor’s features directly stack up against competitors

“Cresicor is our single source of truth for trade-related data. More importantly, it directly saves our team at Hint time, attention, and valuable capital resources.”

How Hint Manages Trade Spend

Alisha uses Cresicor to manage customer payments associated with deductions.

The trade management team enters all promotions and trade spending into Cresicor, then exports the compiled data, making life easier for them.

Cresicor’s central database also enables Hint to enter deductions based on promotion IDs. Doing this remains a manual process, but Cresicor saves Alisha about 15-20% of her time.

Cresicor also helps streamline and organize credit memos, which is a massive help for Hint when they book between 3,000 - 6,000 lines of data a month.

“The most valuable part of Cresicor is that it gives us peace of mind. We know that all of our data will be accurate and streamlined in a unified dashboard.”

Life Without Cresicor: Fragmented Data

Alisha fears that without Cresicor, Hint would be forced to rely on fragmented systems, requiring constant communication between internal teams.

But, Cresicor mitigates this risk by providing a central database that streamlines inputs from different teams, offering visibility across the company.

"Without Cresicor, our five-person team would be trying to collaborate across countless spreadsheets. This leads to fragmentation and endless frustration.”

How Does The Competition Stack Up?

When Hint initially searched for a trade promotion management (TPM) solution, these features gave Cresicor an edge. Alisha runs through her shortlist of must-have features.

1. Up and Running Fast

Typical TPM solutions require a six-month lead time, but Cresicor operated quickly when Hint needed immediate clarity in tracking trade dollars.

2. No Hidden Fees

Most TPM solutions charge hundreds of thousands of dollars to integrate the solution into existing accounting software. Cresicor does things differently. No hidden fees, period.

3. Responsiveness & Support

In Alisha’s words, Cresicor’s CX team’s replies are responsive and actionable, no matter the question or blockers that might hinder response time.

They offered training for her team throughout the implementation process, which proved useful and readily available for Alisha and her team.

Alisha adds that the Cresicor team also responds well to feedback, working closely with Hint’s internal team members to accommodate changes to the product.

“Cresicor takes our needs seriously and prioritizes our requests to improve their product, which is not something you get working with old school TPM solutions.”

Tactical Advice to Trade Managers

Whether you use Cresicor or not, Alisha recommends that other trade management specialists implement the following measures before hitting hyper-growth to avoid long-term challenges.

More specifically, she recommends two sequenced workstreams:

1. Clear Communications

First, develop a communication process between the sales and accounting teams. When you align both teams on respective workflows, this will simplify everything else.

2. North Star Metrics

Second, set the metrics to track and how to follow them. Maintaining general ledger accounts that are meaningful and distinct for your tracking system saves time later.

“Communicating clearly across departments while setting clear metrics will save you time and money in the long run. At Hint, we swear by these two priorities.”

Click here to get a demo.

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