Diligent Trader - the trading system for technology retailers

diligent trader business system

further details

Due diligence compliance with HM Customs and ISO9002 requirements with full audit trail and complete task automation.

Integrates seamlessly with the PRIAM Enterprise Resource Planning (ERP) and powerful Sales Manager (CRM) system.

Suitable for mobile phone and computer equipment traders, ISO9002 process mapping, companies wishing to map and control complex business processes.

Trading board

Allows traders to add, amend and display customer requirements and supplier availability quickly and easily. This includes all relevant details about the trade such as specification and exchange rate.

Once requirements and availability have been added, the "Deal" facility will bring together potential deals on an automated basis using pre-defined criteria such as profit margin.

When a deal is accepted the details are passed through to the due diligence section to ensure that full compliance with HM Customs requirements is carried out.

In short, PRIAM provides full stock history and traceability from IMEI, SIM, MPN, or serial number. Bar code scanners can be used to identify any stock item for any movement e.g. items can be booked into warehouses by scanning in identifying numbers, can be moved to other locations by bar code reference, and can be despatched through shop or warehouse using scanners.

The Trading Board is a browser based system and will work on the Internet or any local area network.

Post stock requirements

The Trading Board allows traders to record details about potential requirements.
This includes:

• Customer name, address and contact details
• Specification of the handset or equipment that is required
• The product, date and quantity that is required
• The target price that the customer wishes to pay
• The exchange rate (if the customer is based overseas)
• Any comments regarding the customers requirements
• If the amount required can be split between different suppliers

Once requirement details have been added they appear on the Trading Board awaiting the creation of deal.

Post stock availability

The Trading Board allows traders to record details about potential availability.
This includes:

• Supplier name, address and contact details
• Specification of the handset or equipment that is being offered
• The product, date and quantity that is available
• The target price that the supplier wishes to receive
• The exchange rate (if the supplier is based overseas)
• Any comments regarding the supplier requirements
• The quantity available can be split between different customers

Once the availability details have been added they appear on the Trading Board awaiting the creation of deal.

Process a deal

Once details of requirements and availability have been added they can be "brought together" to create a deal.

The Stock Board will automatically try to match customer requirements of the same products with supplier availability. This is done in profit margin sequence prompting the trader to choose the deals with the highest margin.

Deal matching will also take into account whether either requirements or availability quantities can be split.

Deals below specific profit margin criteria will not be allowed unless overridden by a director or manager.

Negotiate a deal

Not all deals will be straight forward and sometimes price and quantity will need to be amended. The Trading Board allows traders to negotiate between customers and supplies to "create a deal".

The Negotiate The Deal screen allows traders to amend requirements or availability details before committing the trade.

Deal summary

The deal summary screen allows the trader to view the deal once it has been matched.

Here information is added such as:

• The customers purchase order number and who the deal is authorised by
• The amount of deposit required from the customer
• If there are any export freight charges

When a deal has been matched, it is approved by a supervisor or manager and the due diligence process commences.

Due dilligence

Once a deal has been created and approved a number of checks and procedures are put into place following the rules laid down by HM Customs and Excise. This is known as the due diligence process.

The first part of the due diligence process is to ensure that both the customer and the supplier have been subject to a number of checks. These checks ensure that both the customer and supplier are approved by HM Customs to deal in mobile phones / computer equipment.

If either a supplier or customer have not been approved the deal is placed on hold within the "On Hold" deals screen awaiting approval.

The system will guide the user through the approval process. This is a series of pre-defined tasks that gathers the required information for HM Customs to approve the customer / supplier as a trader.

When these tasks have been carried out, the customer and supplier are profiled as being approved and the deal becomes a confirmed trade.

Confirmed trades

A deal will become a confirmed trade when both customer and supplier have been through the approval process. When a deal is confirmed the next stage of the due diligence process commences. This is a series of tasks that guides the trader or the administrator through the requirements of HM Customs to complete the trade.

These tasks are chained together so that each one is executed and completed in turn before the next task can be initiated.

Starting from the top of the list the task "start filling in deal check list form" has to be executed and completed before the task "send notice of intention to trade" will be displayed.

The tasks are completely user definable allowing your system administrator to:

• Create, amend and delete tasks as the due diligence processes change
• Amend the order in which the tasks appear
• Allow tasks to be allocated to another person or a group of people
• Specify the date and time for when the task needs to be completed
• Have the task authorised by a supervisor before it is executed
• Escalate the task to another member of staff or a supervisor if it is not completed

Task processing

There may be many different types of tasks. They could be:

• A reminder to perform a clerical operation
• A telephone call
• A letter or an email
• A task performed within the PRIAM ERP system such as create a sales order, enter a customer payment or raise a purchase order

The notice of intention to trade document is created as part of the due diligence process and passed to HM Customs for checking.

Sales order processing

As part of the due diligence process the PRIAM Sales Order Processing is called and the details of the order are passed automatically to the screen.

The user can also enter additional detail and then complete the order.

Customer payments

As part of the due diligence process the PRIAM Customer Payments is called and the details of a customer deposit are entered into the screen.

The user can also enter additional detail and reconcile the payment with any invoices that have been raised.

Purchase order processing

As part of the due diligence process the PRIAM Purchase Order Processing is called and the details of the purchasing requirements are passed automatically to the screen.

The user can also enter additional detail and complete the purchase order.

When stock is booked into the PRIAM system, a check is made to ensure that duplicate SIM numbers are not being processed.

Full audit trail

The deal is deemed to be complete when all of the tasks within the due diligence process are completed.

A full audit trail is available so that deals can be checked to ensure that all the tasks within the due diligence process have been carried out correctly.

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