Scrap Metal ERP

Worlds #1 Cloud ERP + Scrap Metal Compliance

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Enterprise Ready Features

Using a "weighted average" inventory method. 

THE BUY-SIDE

The "Buy Side" Module is offered as a stand-alone license for feeder yards.

The buy side was designed to create a simple and fast buying process for peddler transactions, capturing all the images needed for state and local compliance reporting. 

Payment options: paying your suppliers by cash, check printing, wire transfers, delay pay, pay to ATM, and our newest feature instantly loading money on your customers Debit cards.

For commercial or industrial accounts tickets can be paid to AP status where they can be priced and combined for single payment options.

THE SELL-SIDE

The Sell Side Module can be added to create a full-service scale buying and selling solution allowing for reconciling your buyer's weights.

Scale tickets print packing slips and BOL's, automatically become an invoice in NetSuite for billing and freight purposes.

WeighPay also offers features for commercial and industrial accounts, with the ability to create purchase contracts for your suppliers and sales contracts for your buyers.

Payment options: when selling your scrap inventory you can accept cash, check, wire or send to AR Billing where invoices can be combined or billed separately, payments can be accepted and pushed to NetSuite.

ORACLE NETSUITE MODULE

  1. The NS-LITE option offers a push ticket data into NetSuite in real-time using server-to-server communication.
  2. The NS-ENTERPRISE option offers bidirectional integration allowing data to be pushed and pulled from NetSuite in real-time using server-to-server communication.

PRIMARY FEATURES

For industrial accounts you can create purchase and sales contracts with formula-based pricing. These contracts can be based on volume, products, using market prices or fixed prices and with many additional options. You can also create quotes with expiration dates and email alerts for both parties.

Contracts can be sent by e-mail to your supplier or customer and they are stored in the customer portal where they can manage, view and print contracts, saving the customer time.

The contract position is updated in real time providing vital information for both the buyer and seller. Both parties can instantly view whether you are long or short on any given contract, if they are over a credit risk limit, what and when contracts are priced. Email alerts can be configured to automatically notify all parties including the sales rep/trader.

WeighPay offers flexible pricing management that allows for frequent price modifications. Prices are based on several criteria and can be managed in contracts or open prices for peddlers. Price Sheets are created and can be assigned to a single supplier and/or for supplier groups, date ranges, product quantities, etc. Updates can be pushed by changing the price for public and market prices, linked or unlinked to markets.

In our WeighPay Online back office, you can link your prices to the base price or market price lists with a plus or minus an adjustment for each customer. Price fixations based on LME or COMEX can be processed and a fixation notice mailed to the customer. This feature will not only save time with regard to price changes for each commodity but will also save the company money due to sudden and drastic market swings.

Using any NTEP certified scale indicator, WeighPay offers full integration for truck and floor scales eliminating any duplicate data entry. All weight overrides are recorded creating an audit trail for management to view and approve.

WeighPay offers serial connections, network connections, and Bluetooth connections. We always recommend network connected indicators. Your scale company will install a serial to ethernet converter and connect your indicator to your router/switch and provide our technicians with the IP address and port numbers.

We have found that network scale connections allow for all smartphones, tablets, and computers to pick up the network scale feed and eliminates the dependency of the nearby PC as the host.

Capturing the weight on an inbound or outbound ticket starts a chain of events relating to inventory, contract positions, cash or account-based sales and purchases. Speed-of-use and accuracy are our #1 goals for the truck and floor scale stations. This means reducing the number of buttons pushed and automating the buying and selling processes while providing the company with the highest level of security and audits possible.

WeighPay is mobile ready for any device anywhere at any time. Each one of our applications come standard with large buttons for easy mobile device use. We created an onscreen menu organization system, so each device can have its own product types for quick access one-button touch. In addition, we also offer a simple-to-use hierarchy menu setting feature for companies with hundreds if not thousands of products. This hierarchy system allows you to go as deep as you want with the parent-to-child menu structure.

We also offer barcode entry, simply scan, capture weight and print, it’s that simple.

WeighPay offers several options when it comes to tracking freight including an integrated cloud partner for dispatching and container management. Our cloud partners application can dispatch details like the supplier, location, truck, commodity with trip time and trip miles right onto the scale ticket so freight costs can be factored into sales and purchases in real-time.

Other hardware like cameras, document scanners, fingerprint and ID scanners are fully integrated with images always attached to the transaction at the ticket level all the way down to the line item level.

Mixed load sorting and evaluation for all metals, WIP sorting, are critical processes to manage quality control.

Cash and cashless purchases are daily practice in most scrap yard recycling companies and require a well-designed and secure software solution. WeighPay offers cash drawer integration; cash purchase tickets, cash sales documents, and the complete work and data necessary for everyday compliance. The payment itself can be done by cash, check, wire, sent to AP, load debit cards or use ACH fast bank transfer.

WeighPay offers onscreen compliance cues allowing the cashier to see images in real-time ensuring compliance rules are met with acceptable images.

When it comes to ATM’s and cash/coin dispensers, WeighPay has partnered with Diebold, the world leader in ATM solutions. You can opt for a lobby ATM unit or a through-the-wall ATM unit using pin codes or barcodes to dispense money while capturing the customer image and signature during the cash dispense routine.

Scanning Drivers licenses and ID cards are an integral part of managing your retail trade business. ID’s are scanned, and data and images are added to a customer file in seconds creating an accurate trade account. IDs, photos, and even fingerprints can be linked to the cash transactions providing full compliance with the laws of your country. Signatures can also be captured through a panel and stored with the cash receipt.

Using mobile devices allows the user to capture ID image, scan a 2D barcode, capture weights, take the product image and capture the customer image all using the phone or tablet cameras andtouchscreenn.

A modern-day smartphone is a powerful tool for recyclers, thus phones and tablets can offer multiple levels of redundancy that a PC just cannot compete with. Such as but not limited to, hosting its own internet source (3G/4G), touch-screen for getting the supplier signature, the rear camera can be used as a barcode scanner to onboard clients, get VIN numbers and scan tickets from other workstations, the rear camera can also be used as a document scanner as well as capturing product and customer images.

While some of our competitors will offer a cash reconciliation process before posting inventory and data into their accounting system, WeighPay offers a real-time integration with QuickBooks, and Oracle NetSuite, tracking both purchases and sales.

For retail customers, the scrap yard company will create and print the purchase invoice for the supplier. This reduces the work for controlling and eliminates the manual posting of purchase invoices. Very few peddlers have their own scales and cameras to capture the needed information for modern day metal theft compliance.

The purchase invoice or settlement is based on previously negotiated prices or contracts, and the scale tickets which the supplier has received when the commodities were picked up or delivered by the supplier. WeighPay allows for both purchase items and sell items on the same ticket allowing for sales of services and purchases of metals on the same ticket. These are then separated for accounting purposes as vendor bills and vendor payment automatically when using our integrated accounting modules.

Creating outbound loads is the beginning of the sales process in the scrap metal industry where scales and camera integration can be a part of the weighing process and a BOL can be printed. At the same time, a packing slip is created in the back office that will allow the accounting team to settle and or reconcile the buyer’s weights. This process is also available to inhouse brokers and traders from the online back-office web application from anywhere in the world. Prices are retrieved from a contract or a price file.

The sales process can be started and completed at the scale or in the back office or from anywhere in the world using our web application. Outbound loads offer the loading logic so incoming tare weights can be added to each product line weight on the ticket and compared to the total gross for any variances.

In WeighPayonline.com web application you can attach the outbound tickets (sell tickets) to AR invoices and email the invoice to your customer. The customer can then see these invoices in their customer portal.

You can accept partial or full payments, and then the invoice is transferred to your accounting software in real-time and/or can be sent at the end of the day in batches, the recyclers choice. You can opt to send unpaid invoices to your accounting system then finish the payment posting process in your system.

Stock/Inventory management in a scrap recycling company can be considered as one of the most demanding for any industry. This is because scrap metal commodities are bought under one commodity description then regraded to one or many other commodities. Prices for these purchases can change due to mill pricing changes during the middle of the month, which makes tracking average cost of goods difficult, especially for commercial accounts. In the scrap metal industry, commodities are bought sorted, separated, and/or processed and re-classified. Inventory is not only built through purchases but through transfers based on regrading up or down, wire separators, balers, shredders and other sorting processes.

Some of the largest scrap metal processors in the recycling industry are using WeighPay NetSuite ERP. We offer the most complete suite of applications and features. This includes the linkage of purchase and sales contracts in a true n:m relation.

Posting Inventory

The initial inventory levels are updated as soon as the commodities are received at your plant. The metals are priced using live formula pricing and/or placeholder prices used from last month’s contracts. Inventory is evaluated using the weighted average method. FIFO or LIFO methods are also offered. The direct cost of purchases or sales with freight factoring is integrated at the line item level. Freight can be factored into costs of purchases and sales as they happen. Real-time inventory with actual cost-plus freight.

Settlement claims are used to reflect the differences between shipped weight and received weights. In the scrap, industry recyclers get paid on the received weights taken by the customer/buyer. The main reason the buyer re-weighs everything is to ensure quality control, properly classification of each commodity and the weights match the Bill of Lading/Packing Slip.

For each packing slip (bill of lading) a reconciliation method must be used to ensure the correct weights are used when invoicing the buyer. Packing Slips are automatically linked to the original invoice so that payments can be posted. The settlement data can be used in reports to analyze weight and commodity grading differences; this information is stored in the customer portal, so all parties can see relevant settlement information in real-time.

With freight rates doubling in recent years freight has become the largest cost factor besides the cost of metals and labor in the metals trading business and can make or break a trade and/or company.

Managing the cost of freight requires real-time information for trucks, drivers, dispatchers and scale operators. WeighPay has integrated freight factoring tools to assist with freight costing and has partnered with the #1 cloud dispatching software company in the scrap metal industry, Cro Software.

Freight can be added at the line item level, by pulling the freight rate from the hauler contract then dividing by percentage of net weight on each line item, ensuring that cost of goods includes the proper freight allocation.

Freight and other hard costs like harbor fees, surveyor, insurance, landfill, etc. can be added to a contract formula to calculate the final freight cost. At the time of the shipment, these costs are updated so freight costs can be added to the cost of goods as it happens. The hauler invoice can be generated from the scale ticket and or scanned in from the transport company then matched with the freight on record for the shipments. As the Hauler Bills are automatically generated and posted to AP at the same time the scale ticket is posted, in real-time.

Numerous reports allow the detailed analysis of freight and other direct cost and monitor the performance of your freight carriers.

When processing metals in shredders, shears, balers, and separators, etc., WeighPay offers a many-to-many regrade feature with automated processors for commodities with known regrade percentages and or manual regrades. Our integrated regrade feature allows operators to set production input and output levels and factor in capitalizing production cost (optional), or tolling fees. Automatic update of inventory and constant re-evaluation of production transfers are integrated processes along with the new cost of goods from the regrading process.
WeighPay Mobile is the scrap metal industries #1 Android app allows the yard manager to control the trucks in the yard and grade the material which is unloaded in real-time with images and signatures. The application runs on an Android mobile device which is linked to the database. As soon as the scale operator has registered the first weight in, the yard manager can see the ticket on his/her device. They can then select the commodities using a tablet and split the load into multiple commodities by percentage or by weight and can also add deductions for the whole load or by each commodity. As soon as he releases the ticket back to the active ticket screen the scale operator can see that the grading has been done and then takes the tare weight of the truck and the ticket is sent to AP.

As the yard manager grades out each commodity an image can be captured along with notes for grading and deduction exceptions.

NetSuite Connector – pushing purchases and inventory to NetSuite

NetSuite Enterprise Connector – pushing and pulling data to and from NetSuite, using both PO's SO's in NetSuite while tracking inventory movements executed in WeighPay.

ATM and Coin Hoppers

Suppliers will get a ticket with a 4-digit pin or barcode and proceed to the ATM. After scanning the barcode or entering the pin code the customer will review the ticket details and then be asked to sign the screen and a photo will be taken at the time of dispense for security and audit purposes.

ATM and cash dispensers come with 4 cash cassettes holding 3000 notes.

WeighPay has integrated solutions with Diebold, Puloon and ARCA machines.

More Modules

  • Complete POS solution for any retail sales, new metals, automotive parts
  • The complete scale invoicing solution for Waste Management landfills and transfer stations.
  • Electronic Waste (CEW) for California
  • SMS Text message marketing
  • Sales Contracts
  • Inventory packaging
  • Time Cards
  • Mixed Load Sorting
  • Bottle Beverage (CRV) for California

cloud 1

In the cloud = more control for your scrap business

Cloud-based WeighPay compliance software solutions eliminate costly and complex outdated servers for easy global administration on any internet connected device through an advanced intuitive web based application.

Combinded with NetSuite / Oracle, we have created a unified business management suite for the scrap metal and recycling industry. SuiteScrap offers a powerful cloud-based scale front end, and cloud-based accounting ERP back end solution that helps you manage your scrap business from anywhere, 24/7, securely and with confidence, while streamlining processes that helps take cost out of your business.