A sustainable, paperless process and improved visibility are the main benefits experienced by Gift Universe Group since switching to Webexpenses Invoice Processing.
As one of the UK’s leading and fastest-growing operators in the gift and gadgets sector, the finance team has to handle a large volume of monthly supplier invoices.
They had previously been using a manual approach with invoices arriving via email or post and having to be printed off and distributed to the relevant approvers for sign-off.
It created a time-consuming process which was hard to track for the finance team and also relied on paper documentation. Webexpenses Invoice Processing provides uses a cloud-based approach with real-time data delivering much-improved visibility and auditing.
Another major benefit for Gift Universe Group has been the sustainability that’s provided by a fully paperless process. OCR scanning means that all incoming supplier invoices are instantly converted into a digital format, removing the need for any physical documentation.
Simple and sustainable invoice management
Stacey Monks, Financial Controller at Gift Universe Group, stated:
“We now have full visibility of our supplier invoices process, which is fantastic. Another key factor for us was to be more sustainable – with now having a paperless process we’ve made a massive step towards this.”
Webexpenses Invoice Processing tracks every stage of the process with integrated reporting tools allowing the status of invoices across the business to be centrally managed and monitored.
Having effective and scalable financial management tools is vital for a company which has twice been featured in the Sunday Times Fast Track 100 list of fastest-growing UK companies.
Launched as Menkind in 2002, the business now has stores at 60 different locations across the UK. In 2015, Gift Universe Group acquired RED5 and the wholesaler, The Source.
The ongoing success is based on being the first to bring original gifts and gadgets to market and establishing long standing relationships with partners and suppliers. Find the full case study from Gift Universe Group here.