How EverPlate saves 60 man-hours per month, gets paid 15 days faster with Peakflo
"Peakflo has been an amazing partner for us. It has saved us approximately 50-60 man-hours per month in receivable collection operations through automated workflow and payments."
Satrio Wiavianto
Head of Operations, EverPlate Indonesia
See How Much EverPlate has Saved with Peakflo
60
man-hours saved per month
15
days reduction in invoice collection time
30%
disputes decreased
Based in:
Indonesia
Peakflo customer since:
January 2022
Invoice per month:
300
Background
EverPlate Kitchens is a cloud kitchen platform that improves the way a conventional restaurant operates. EverPlate provides quality kitchen infrastructure that is built for the delivery market.
Favorite Features
✅User-friendly dashboard
✅Invoice status tracking report
✅Automated multi-channel workflows
✅Static virtual account
✅Reconciliation
Key Takeaways 🔑
🚩Problem
EverPlate’s operational team, coming from a non-finance background, had a difficult time issuing invoices and tracking payments, resulting in incredibly tight cash flows and wasted man-hours spent doing repetitive tasks.
With Peakflo, EverPlate’s operational team was able to track invoices and collect payments with ease, resulting in significantly better cash flows and a more productive finance team.
Problem:
Number of invoices exploded, but no systemized process for tracking and management
The pandemic has shifted the way customers order food; from offline dining to online delivery. EverPlate, as a cloud kitchen that facilitated tenants to provide online delivery services, saw huge business growth and scaled their operations from one to eight locations from 2021 to 2022 and their merchant base from 30 to 300 small-to-medium enterprises. Consequently, the number of invoices sent monthly exploded. What’s more, the operational team was in charge of handling the stacking amount of invoices, but they weren’t equipped with enough financial management skills to track and collect them.
Solution:
Productivity skyrocketed 🚀 by leveraging Peakflo’s centralized dashboard
EverPlate required a centralized dashboard to manage payments — and Peakflo provides just that. Peakflo has made invoice management and tracking much more manageable with the invoice status tracking report. EverPlate could easily track the list of companies with invoices overdue in real-time and immediately decide the course of action they should take. EverPlate’s operations team didn’t have to lose a lot of hours doing manual tracking any longer.
“Peakflo has saved us approximately 50-60 man-hours per month in receivable collection operations”
Satrio Wiavianto
Head of Operations, EverPlateProblem:
Invoices overdue piling, but no efficient method for chasing them
Chasing payments was another story for EverPlate. Only one-third of the customers paid earlier or on time. A large portion of EverPlate customers are hard-working restaurant crews and merchants who didn’t have enough time to check payment reminders on their email. The number of invoices overdue kept stacking up, yet EverPlate didn’t have a viable solution for following up with their customers.
Solution:
Follow-ups streamlined with Peakflo’s multi-channel payment reminders
EverPlate was in fact the first Peakflo client to use the automated multi-channel payment reminder. This feature has helped bridge the communication between EverPlate and their merchants. The majority of EverPlate’s customers used WhatsApp as they had to be always on standby for food orders. Thankfully, Peakflo supported the WhatsApp messaging module, and EverPlate didn’t need to worry about payment notifications getting skipped as their customers would directly receive invoice details, such as the amount and payment due date, therefore streamlining business-vendor communications. Finally, EverPlate’s operations team was able to receive collections faster.
“On average, we are able to receive payments faster by 15-20 days”
Satrio Wiavianto
Head of Operations, EverPlateProblem:
Lots of late payers, lots of payment-related disputes
Due to the significant number of late payers, a lot of disputes occurred between EverPlate and their tenants. Customers were having a hard time keeping track of invoices overdue and a lot of disputes were raised. There was no transparency regarding the invoice amount, plus there were numerous discrepancies within the invoice details. To add more fuel to the fire, EverPlate had to check invoice details and solve lengthy disputes one at a time, which could potentially lead to costly mistakes.
Solution:
Less late payers, less disputes thanks to Peakflo’s customer portal and reconciliation
Peakflo has been especially helpful in resolving disputes as it has enabled each EverPlate customer with a unique portal where they can track opened or close invoices using the audit trail. They can also see if they’ve made partial or full payments. Plus, with the static virtual accounts, Peakflo has enabled EverPlate to easily track which customers have paid, what method they used, and how the payment was made — overall decreasing disputes by 30%.
Peakflo has also removed manual reconciliation as EverPlate could export and sync multiple invoices from their database in a few clicks. Peakflo has made the reconciliation process for EverPlate easy and instant, even if not connected to any accounting software.
