Sherwin Williams Selects Aceva Technologies as Its Platform for Receivables Management and Collections Automation

SAN MATEO, CA – Aceva Technologies, Inc., a leading provider of enterprise software applications for revenue and receivables management, today announced that Sherwin Williams, a $5.4 Billion manufacturer, distributor, and retailer of coatings and related products has selected Aceva’s Revenue and Receivables Management Suite for deployment across its Paint Stores Group. Sherwin Williams was looking for a technology solution to allow some 3,000 plus users dispersed across the Americas in various stores and offices to automate the collections management process and manage, report, and track its accounts receivables more efficiently. At the end of a comprehensive selection process that included reviewing the offerings of multiple solution providers, Sherwin Williams has selected with Silicon Valley-based Aceva Technologies.

“We were looking for a solution that would scale up to manage our transaction volumes, while providing the ease of use and process automation across our entire credit and collections organization,” said Bill Thompson, Sherwin Williams Director of IT, adding, “Aceva will provide the functionality we need to meet our requirements.” Sherwin Williams Paint Stores Group will use Aceva’s Collections Management product across all of its customers segments – such as retail trade professionals, builders or distributors, property management, and OEM – and the solution will automate the collections management process based on different business rules that apply to the segments they are in. “We are looking forward to partnering with Aceva,” said Bob Draper, Sherwin Williams Director of Credit, adding, “Aceva’s product will provide the flexibility and scalability we need.”

Sherwin Williams’ users will be able to access Aceva’s application over the intranet from any of their offices, logging on through secure sessions to review credit and collections reports, define strategies for automated communication and collections management, and review and enter actions into the automated workflow. “We are excited to be the partner of choice for Sherwin Williams,” said Sanjay Srivastava, COO of Aceva, adding, “our product provides an efficient, easy to use interface and is designed for global, large-scale transaction volumes.” By using Aceva, other companies have been highly successful at optimizing working capital, reducing costs, enhancing productivity and achieving increased customer satisfaction levels. Aceva also helps organizations unlock money tied up on their financial value chain in accounts receivable, minimizing the gap between existing DSO and best-possible DSO.

About Sherwin-Williams
The Sherwin-Williams Company, founded n 1866, is one of the world’s leading companies engaged in the manufacture, distribution and sale of coatings and related products to professional, industrial, commercial and retail customers.

About Aceva
Aceva Technologies is a leading provider of enterprise application software solutions for revenue and receivables management. Aceva’s solutions for order quality, dispute prevention, inventory transaction reconciliation, deductions management, collections management, and cash forecasting directly address quote-to-cash process breakdowns, quality issues, and automation requirements. Aceva’s products deliver end-to-end revenue and receivables visibility, continuous business policy monitoring, collections process automation and workflow, as well as comprehensive reporting and analytics. As a result, customers are able to optimize financial performance and working capital, improve operational excellence and customer satisfaction, and comply with internal controls and regulatory requirements.