How Vida saved 301 man-hours per month by automating their approvals
"Peakflo approval workflows have been a great help for streamlining our purchase order and bill approvals. We’ve been able to save 236 man hours with Peakflo. We also no longer need to create reports manually and have saved 16 man hours by using Peakflo's out-of-the-box AP reports. "
Martinus Martinus
Finance Accountant - Vida
See How Much Vida has Saved with Peakflo
man-hours saved per month on PO approvals
man-hours saved per month on 2-way matching
man-hours saved per month on bill approvals
man-hours saved per month on reporting
Based in: Indonesia Peakflo customer since: June 2023
Background
Favorite Features
✅ Reporting
✅ 2-way matching
Key Takeaways 🔑
🚩Problem
- Manual approval process for purchase orders and bills
- Lack of visibility over the communications and the audit trail
- Manual Reporting
- Manual 2-way matching
✅ Solution
- Approval workflow automation for POs and bills
- out-of-the-box AP reports
- Automated 2-way matching
Problem: Manual approval process for purchase orders and bills
Before Peakflo, the approvals were done manually through JIRA, email confirmation, and personal messages. This process resulted in extremely prolonged approvals for both purchase orders and bills. It took around 1 week to a month for the Vida finance team to approve bills and purchase orders.
Solution: Peakflo’s automated approval workflows
With Peakflo, Vida’s finance team has been able to streamline and simplify the approval process, and the approval process is fully automated. The daily approval reminder emails have been helpful and informative for all the approvers and the whole approval process is taking less than three days.
Problem: lack of visibility over the communications and the audit trail
Before Peakflo, the Vida finance team had no visibility over the approvers and the state of the approvals. There was no audit trail to check the communications.
Solution: Full visibility over communications and the audit trail
With Peakflo, the Vida finance team can easily check who approved what at what time using the bill and purchase order timeline.
Problem: Manual reporting
Before Peakflo, all the reporting regarding payables was done manually using Excel. The manual reports contained many errors and It took around 2 days for the reports to get ready.
Solution: Peakflo’s out-of-the-box reporting
Now reporting takes no time from the Vida finance team and they can easily check or export out-of-the-box reports from Peakflo.
Problem: manual 2-way matching
Vida finance team spent around 7 days to manually match bills to purchase orders. The process was error-prone and time consuming.
Solution: Automated 2-way matching
With Peakflo, it only takes 5 minutes to do two-way matching for each transaction. Vida is now only spending around a day on validating their 2-way matching process.
"Peakflo approval workflows have been a great help for streamlining our purchase order and bill approvals. We’ve been able to save 236 man hours with Peakflo. We also no longer need to create reports manually and have saved 16 man hours by using Peakflo's out-of-the-box AP reports."
