How GT Bharathi saved 200 man-hours per month and increased accounts payable efficiency by 74%.
"Peakflo’s customizable approval automation has been highly beneficial for our team, We’ve been able to save 200 man-hours per month. We have also automated manual tasks such as PO creation and 2-way matching and increased efficiency by 74%."
Ragul Sundarrajan
Financial Controller, GT Bharathi
See How Much GT Bharathi has Saved with Peakflo
200
hours saved per month on bill payment approval
74%
Increased efficiency in accounts payable
Based in: India
Peakflo customer since: December 2022
Background
GT Bharathi multiplies returns, values and yields on real estate assets.
Favorite Features
✅ Automated purchase order to bill matching ✅PR, PQ, PO creation, and clear audit trail ✅ Approval workflow automation ✅ Real-time budget management
Key Takeaways 🔑
🚩Problem
- No process for the PR, PQ, or PO creation
- Manual approval process and lack of visibility over the communications and the audit trail
- Manual process for two-way matching (bill to purchase order matching)
- Manual budget management and tracking
✅ Solution
- Automated purchase order to bill matching
- PR, PQ, PO creation, and clear audit trail
- Approval workflow automation
- Real-time budget management
Problem: No process for the PR, PQ, or PO creation
Before Peakflo, the process of purchase request, purchase quote, and purchase order creation was completely manual. Issuing a single purchase order was time-consuming and took around 15 minutes from the team. Additionally, the finance team did not have any visibility over the audit trail.
Solution: Peakflo’s PR, PQ, PO creation, and clear audit trail
With Peakflo, GT Bharathi’s finance team has been able to streamline the procurement process and define customized solutions. Also, they have full visibility over the audit trail and have been able to increase the efficiency to 74% after bypassing the manual tasks of PO creation.
Problem: Manual approval process and lack of visibility over the communications and the audit trail
Before Peakflo, the approvals were done via email and WhatsApp, and GT Bharathi’s finance team attempted to use Excel to track the approvals. Lack of approval workflow automation resulted in too much time being spent on manually chasing approvers. (around 200 man-hours per month)
Solution: Peakflo approval workflow and full visibility over the audit trail
With Peakflo’s approval workflows, the approval notifications are automatically sent to the stakeholders. The GT Bharathi team can customize the approval workflow to make sure it fits their organization’s requirements. The audit trail for approvals is now completely transparent and automatically tracked. This feature has been highly beneficial for streamlining their approval process.
Problem: Manual process for two-way matching (bill to purchase order matching)
Before Peakflo, the GT Bharathi team handled two-way matching manually and it was not only error-prone but also required a lot of time. .
Solution: Peakflo’s automated purchase order to bill matching
The GT Bharathi finance team has much more efficiency with Peakflo’s automated bill-to-purchase order matching. They can now save 25 man-hours per month after bypassing all the manual efforts of 2-way matching.
Problem: Manual budget management and tracking
Before Peakflo, the budgets were tracked on spreadsheets. There was no real-time visibility over how much budget has been utilized and how much is left for different departments and activities. It was quite difficult to keep track of budgeting.
Solution: Peakflo’s real-time budget management
GT Bharathi can now create customized budgets for different projects and departments, assign PO and bills to budgets, and have real-time visibility over the budget status.
"Peakflo’s customizable approval automation has been highly beneficial for our team, We’ve been able to save 200 man-hours per month. We have also automated manual tasks such as PO creation and 2-way matching and increased efficiency by 74%."
