The Portland Fish Exchange, America’s first all-display fresh seafood auction that opened in 1986, had a common problem for any business using multiple software systems. They needed to take data from their operational system and have that data entered into their back office accounting system (Dynamics GP), then produce invoices and checks within 2 hours!

The Exchange acts as a financial intermediary, providing payments to sellers and collecting payments from buyers. Sellers receive payment for their catch within 24 hours of product sale at the Exchange. At the close of each auction, buyers receive invoices for products and services received, with 14 day payment terms.

Gilchrist Scott developed an integration system that reports auction transactions in Crystal Reports for verification purposes, and creates Sales Invoices to buyers and AP Vouchers to fishermen (sellers). Sales Invoices and Seller transaction details are emailed immediately and checks are cut to the fisherman within 24 hours.

Entering auction data for each session was taking days of manual entry time, but with the automatic integration, we have reduced that to approximately 2 hours. Now the Exchange is up to date at the start of the each auction.

“For ten years, Gilchrist Scott has been a valuable partner in developing custom integration routines for three separate operational software platforms. We rely on their ability to understand our process,” explains Bert Jongerden, General Manager. “Their service and attention to detail is excellent. We especially appreciate their cooperative approach with our other software vendors.”

More about Portland Fish Exchange:

The Exchange’s primary function is offloading and auctioning of seafood. Commercial fishing vessels are offloaded in the early morning. The Exchange separates the catch by species of fish and market cull. The catch is weighed, and arranged for inspection in the facility’s 22,000 square foot refrigerated warehouse. Buyers arrive throughout the morning to inspect the quality of the day’s catch.

The Exchange supports Maine’s seafood industry by:

• Providing buyers and sellers with impartial culling and weighing services.

• Conducting a fair, transparent auction to determine the most accurate, up-to-date prices for wholesale fresh seafood.

• Disseminating price information to seafood buyers and sellers to allow them to make the best possible market decisions.

• Advocating for sustainable fisheries and Maine’s seafood industry at the state, regional, and federal levels.