North Carolina Mutual Wholesale Drug Company is a full-line wholesale distributor for independent pharmacies located in the Raleigh / Durham area. Their mission is to support independent, entrepreneurial pharmacists so they are able to compete with large chains in today’s environment. They carry approximately 23,000 products, work with 1,000 vendors, and service over 600 pharmacies. In business since 1952, they have 160 employees, many of whom have worked there over 30 years.
The company ships out $5.2 million in product each night, which equals revenues of about $1.3 billion per year. This translates into lots (and lots!) of invoices. In Accounts Payable alone, they were maintaining 25 5-drawer file cabinets for just one year of invoices. Clint Syvinski, Corporate Controller at NC Mutual, explains, “As a company, we generate a lot of paper. When you have that much data, trying to find a specific invoice gets pretty difficult.”