Frequently Asked Questions
Q: What is WayPoint?
A: WayPoint is an advanced software system that costs out a company’s operations in fine detail. Using your own detailed and accurate costs, our system shows where and how your company makes and loses money.
Q: Who uses WayPoint? What do they use it for?
A: WayPoint is a tool for CEOs, CFOs, sales leaders, operations managers, and sales representatives of wholesale distribution companies to set strategy and pricing, monitor performance, and run their day-to-day operations more carefully and efficiently.
Q: How is WayPoint different than a Business Intelligence System?
A: WayPoint is far more beneficial than a Business Intelligence System because it gives you information you wouldn’t otherwise have, and at a much higher level of sophistication.
Business Intelligence Systems commonly generate reports based on information you already have in your system. WayPoint calculates new and detailed cost and profit information and delivers reports on information that does NOT exist in any of your current systems.
In fact, many Business Intelligence Systems require extensive programming or consulting work to create each report that will come from it. WayPoint comes with more than 90 reports that give you detailed and actionable information on every aspect of your business, plus dozens of ways to drill into any line on any of those reports, so you see exactly how and why money is being made or lost. With WayPoint, you will gain a much greater understanding of your business financials and activities in granular detail.
Q: How much does WayPoint cost? Can I try it out first?
A: The price of WayPoint is based on the annual transaction volume of your company. Implementation consulting, user training, and strategy coaching are all included in the subscription price and there are no fees for updates or maintenance.
Setting up your company in WayPoint requires a significant commitment in time and expertise. Much of the work is unique and personalized to you, and as a consequence you cannot try the system beforehand. We are more than happy to walk you through a presentation of the WayPoint system.
Q: What data or information do we need to provide to WayPoint?
A: WayPoint will need invoice data, customer lists, a product list, and a few supporting tables from your technical group and a summarized P&L statement from your finance team. In each case, gathering this information should not take more than a day.
Your invoice data is transferred to secure WayPoint servers each week or each month, where information from your G/L is used to cost out every detail of your business.
Waypoint is also capable of reconciling your rebates, bundles, and similar assembly programs.
Q: How long does it take to get started?
A: After collecting the data from your technical and finance teams, WayPoint implementations normally occur within 4 to 6 weeks.
Q: Is WayPoint compatible with my existing systems?
A: WayPoint is a companion system that runs alongside your existing systems. With WayPoint, you can add advanced profitability analytics and produce hundreds of new reports for your organization without having to change or upgrade the system you already own. WayPoint implementations require no direct connections to your existing system, and it is completely compatible with nearly any ERP or CRM system.
Q: Where does the WayPoint Software reside?
A: WayPoint is Software-as-a-Service (SaaS) that runs on WayPoint’s own servers and which clients subscribe to use. As a WayPoint client, you’ll avoid the high expense, overhead, and delay of a software implementation. Instead, your personnel get immediate access to a low-cost, low-risk system that can help them deliver immediate results.
You and your team can use the browser on your computer or mobile device to securely access the entire WayPoint system from anywhere, using the reports to set priorities and plan actions that will protect and improve profits.
WayPoint uses the same security banks use, transmitting all information over secure encrypted SSL channels, so all activity is safe from prying eyes. Our servers are firewall-protected, and our people are bonded. We take the security of your information very seriously.
If you prefer, WayPoint can be licensed for use on your companies own servers, with WayPoint experts on hand to provide backup support for your IT staff.
Q: Is WayPoint easy to learn and use?
A: WayPoint is extremely simple to learn and use. New users can master the controls in only 15 minutes, and can begin to use its reports right away.
This kind of profit information is new – revolutionary, even - so we understand that your team may need some help getting started. Our experts are on hand to help with strategic planning, user training, and tactical training and coaching.
Also, WayPoint is partnered with industry experts who have been carefully selected for their deep experience and successful track records. These partners can provide specialized services in pricing, sales programs, and incentive design, and are collectively and intimately familiar with the potential of WayPoint.