Sign On 
By: Pamela Rashid, Product Management Executive, Managing Director, Wells Fargo
Picture this: It’s peak sales season. Products are flying out the door. Dealerships are working overtime to keep up with customer demand. Manufacturers are focused on distribution and delivery so dealers stay stocked.
At the same time, it’s likely invoices and sales orders are piling up in the back office. Data from lenders awaits download and reconciliation. Manufacturers are hungry for insights to keep the right models and parts flowing.
Everyone in this critical supply chain needs information, but all are usually short on resources to update systems, create reports, and review analytics.
Sound familiar?
Keeping current with data takes time, resources, and manual processing
If you’re a manufacturer, distributor, or dealer, you’ve likely experienced the challenges of keeping up with data, especially during peak periods. From motorcycles, cars, RVs, and boats to appliances, consumer electronics, lawn mowers, and computers, it’s a common situation.
Typical hurdles include:
- Moving data between disparate systems
- Manual data entry on invoices, sales, approvals, and other details
- Lack of technical expertise or resources to automate processes
- Infrequent batch-file data transmissions that occur with EDI
- High cost for technology investment
For most, it’s a process that’s cumbersome, slow, and ripe for errors.
APIs help create seamless, system-to-system connections
The good news is that new connectivity options are about to eliminate these pain points for good.
Application Programming Interfaces, otherwise known as APIs, are now available. These “plug and play” connections move data seamlessly between systems with near real-time efficiency. Wells Fargo is one of the first commercial lenders to introduce APIs that support the communication needs of manufacturers, distributors, and dealers. The bank launched APIs for our business customers in 2016; these innovative applications now support more than 1.6 billion data transmissions each month.
APIs generate significant benefits:
- Real-time processing that improves visibility and efficiency
- Immediate access to inventory data, invoices, credit status, and more
- Automatic data updates that eliminate manual processing
- Embedded banking so the information you need flows directly into your primary system
- Stronger security capabilities that protect dealer and manufacturer data
- Greater system stability and a modern platform that keeps business running smoothly
- Lower maintenance with less costly updates when your business or systems change
Wells Fargo’s suite of APIs can replace EDI and batch-file transmissions. Once up-and-running, each API connects a dealer, manufacturer, or distributor system directly to Wells Fargo’s leading inventory management platform, COMS. Updates happen automatically and flow between trading partners so there’s no delay in sending or receiving information, and no need to manually upload, download, or transmit important files.
Dealers, manufacturers, and distributors gain instant access to critical business insights
With these innovative API solutions, everyone in the supply chain can spend their valuable time making decisions and applying insights based on current, actionable data.
Manufacturers and distributors gain:
- Greater visibility to product popularity and current sales trends
- Support for just-in-time inventory management practices
- Real-time information flow across the supply chain
- Improved accuracy in forecasting and warehouse management
- Stronger data for decision-making
- Lower cost, faster implementation, and less maintenance compared to EDI transmissions
Dealers benefit from:
- Fewer delays in invoice processing
- Faster approval of new orders
- Near real-time access to available credit
- Less manual entry and swiveling between systems
- More time for analysis and decision-making rather than manipulating data
APIs enable a powerful process that fuels faster, more accurate insights for all parties involved in floor planning inventory.
Up-and-running easily in weeks, not months
Another advantage of APIs is their ease of implementation compared to custom development. APIs take less time and fewer IT resources to get manufacturers, distributors, and dealers up-and-running. From start-to-finish, many organizations will see real-time data come to life in a matter of weeks, depending on the complexity of your systems.
The future is here for manufacturers, distributors, and dealers. Real-time, automated data exchange with APIs will truly be game-changing functionality. These exciting solutions will power stronger supply chains, better customer service, and greater efficiency for all involved.
Interested in learning more about APIs? Contact your Wells Fargo representative or have your IT team click here.
