Managing client stored wines
The Wine Hub streamlines client wine storage management, handling inventory tracking, market valuation estimates, invoicing, tax calculations, and storage fee billing.
It supports diverse storage needs, including mixed cases and large formats, offers flexible valuation options using Liv-ex or Wine-Searcher data, and simplifies storage fee calculations.
Client stored wines simplified
As desirable as managing or building out a client storage offering is, it’s also one of the most difficult lines of business to manage and one of the most time consuming. That’s resulted in wine merchants and retailers often outsourcing the service, but outsourcing weakens the relationship between the business that sells wine to the storage customer and the implied right to be the first port of call when the customer decides to sell from their collection.
Client stored wine solution
Wine Hub client storage is configurable in respect of En Primeur, and wines held on pending sales orders that have or have not been paid for. Because there’s no one standard approach to what should be included in a customer’s view of their client stored wine, we’ve designed client storage parameters to allow for those differences. Mixed cases are also supported, whilst containers of any size format or type can be stored including whisky barrels.
Market pricing estimates
Market-based valuations can be set up to show Liv-ex prices, derived low retail estimations thanks to Wine-Searcher listings data that we process based on clusters of prices around the market low. (Hub client storage can also be set up to display both options side by side.)
Storage fees
Calculation of storage fees is one of the more complicated non-core tasks that wine businesses undertake, and it’s typically manual and time-consuming. The Wine Hub solves that problem by providing a billing calculation function according to precise requirements – different charging periods, related fees and discount structures. Storage invoices are generated with full descriptions of stored wines.
It’s made a lot of difference actually as we used to really dread when people wanted to store wine, which isn’t useful, because it’s a lovely thing for people to want to do with you, but in terms of the actual functionality of it it was really hard for us when we didn’t have a specialist system to do it. It was all manual, we had different spreadsheets for all of those different things, but now we’ve moved onto the Hub we have it so we can directly put things on, so someone buys it and we can see that straight away and add it all up accordingly.
Add-on features
Private Client Reserves Management (PCRM) Standard)
PCRM Standard is the perfect way to satisfy growing customer demand for keeping track of their collection more actively.
White Label Private Client Reserves Management (PCRM)
A White Label collection management platform provides a comprehensive set of tools and information for your clients to engage with and explore their wine collection.
Self-directed brokerage
With Wine Hub, brokering or consignment of wine is no longer limited to a service you exclusively manage for clients, but becomes a shared experience.
We’re now starting to explore client reserves management as we get more people who want to use our storage service. Online client access is very clear and easy to use and can be accessed from our eCommerce. And for our business, all the tools are there to make calculating storage charges and sending out invoices a doddle.