Partner Q+A: Anna Briggs of Settle on the future of finance and workflow for CPGs

Settle, a pioneering cash flow management company, and Crisp, a leading retail data platform, are setting a new standard for operational excellence in the consumer goods industry.

Today, we’re taking a glimpse into the world of Settle, an innovative cash flow management company that is revolutionizing how businesses manage their financial workflow and streamline their purchasing.

Founded in 2019 by Alek Koenig, Settle was born to untether early-stage consumer goods companies from cumbersome back-and-forth payment processes that often left them with little time and mental bandwidth to focus on strategic growth.

Crisp’s recent partnership with Settle is grounded in our shared vision: to unlock unprecedented operational efficiencies for consumer goods companies.

By converging Crisp’s capabilities in retail data analytics with Settle’s prowess in finance and workflow automation, we offer a seamless, end-to-end solution that transforms how brands operate and succeed.

We spoke with Anna Briggs, Director of Partnerships at Settle, to learn more about the company’s product offerings and illustrate the future of this exciting partnership.

What unique problems do consumer goods companies face that Settle aims to solve?

Consumer goods companies operate in a highly complex environment where every stage of the procurement cycle, from sourcing raw materials to production and order fulfillment, entails a web of intricacies. Traditionally, these processes are managed in isolated silos, which hinders end-to-end visibility into both financials and the supply chain.

Settle’s purchasing suite directly tackles this issue by streamlining and automating the entire purchasing lifecycle. From the creation of purchase orders to their efficient execution, Settle offers a seamless experience, and the platform’s 3-way matching functionality ensures that purchase orders, received goods, and invoices are perfectly aligned, minimizing the risk of costly errors.

On the financing front, typical lending institutions fall short of meeting the liquidity needs of consumer goods companies. Recognizing the need for dynamic purchasing power, Settle offers a flexible “Settle now, pay later” model, where we automatically pay vendors up front, and brands pay us back on terms tailored to their needs.

What’s more, our AI-powered underwriting takes a multitude of factors specific to the CPG industry into consideration, enabling Settle to provide companies with the capital they need to grow. 

Like Crisp, Settle is also committed to helping brands “ditch the spreadsheets.” What do you think are the biggest disadvantages of relying on spreadsheets for managing finances and operations?

Like Crisp, Settle recognizes the limitations and inherent risks of relying on spreadsheets for managing finances and operations in the fast-paced world of retail. One of the most significant disadvantages is the lack of real-time data visibility and analysis. In a spreadsheet, data can quickly become outdated, hindering real-time decision-making. Additionally, as these documents grow in size and complexity, the risk of human error in data entry and formula calculations increases – which can lead to costly mistakes.

​​This is where Settle’s seamless integration with accounting platforms like QuickBooks and NetSuite becomes crucial. Our integrations offer automated, real-time updates and comprehensive financial reports, reducing the risk of error and freeing up staff to focus on strategic activities.

Both Crisp and Settle have a mission to help consumer brands simplify complex processes. Can you talk a little about how you see our services complementing each other?

We believe that the alignment between Crisp and Settle creates a powerful synergy for consumer goods companies and that together, we can represent a next-generation business solution designed for businesses to scale.

At their core, both platforms aim to simplify complex processes: Crisp focuses on real-time data aggregation across retail platforms, while Settle centralizes and automates the purchasing, financing, and accounts payable workflows.

Crisp’s strength lies in offering a single source of truth for sales and inventory data, thereby helping brands gain a 360-degree view of their retail presence. This visibility is essential for understanding market demand, inventory turnover, and sales performance. On the other hand, Settle excels at simplifying the procurement and financial aspects of operations, providing a consolidated platform for purchase orders, billing, and financing – all integrated seamlessly with top accounting software.

Our combined platforms provide immaculate visibility into a brand’s growing business operation.

Looking ahead in our partnership, there are potential opportunities to integrate our technologies. For example, it could be that Crisp’s real-time sales and inventory data triggers Settle’s automated purchase order functionalities. This would mean that the moment inventory levels dip below a certain threshold or an uptick in sales is noticed, a purchase order could be automatically generated, ensuring just-in-time inventory replenishment and maximizing cash flow efficiency.

How can brands use both Settle and Crisp as a leg-up in conversations with investors or retail buyers?

The advantages of using both Settle and Crisp extend beyond just operational efficiencies; they offer a compelling narrative for investors and retail buyers as well.

When a consumer goods brand is backed by the powerful combination of Settle’s streamlined procurement processes and Crisp’s real-time sales and inventory analytics, it essentially presents itself as a well-oiled machine. This kind of operational excellence and data-driven approach is precisely what investors look for, as it significantly de-risks their investment.

For retail buyers, the synergy between Crisp and Settle ensures a consistent and reliable supply chain. With Crisp’s real-time insights into market demands and inventory levels, coupled with Settle’s efficient procurement and financing options, retailers can be confident that a brand can meet demand surges without hiccups.

So exciting! How can interested businesses get started with Settle?

Please visit us at www.settle.com where you can get started with your first transactions today. We are currently offering 6 months FREE for referred Crisp customers – just use promo code CRISP2023. We look forward to helping brands leverage our combined technologies to streamline and scale their growing business!

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