We help multi-unit QSR restaurants with 10 or more locations boost employee productivity by 12x in 1 month or less by automating the accounts payable process.
QSR Group Inc.
“Prior to factura.ai we were killing a lot of trees…. The volume was crazy and it was increasing as our stores were increasing…. So time consuming, tedious and environmentally unfriendly… It’s (factura.ai) actually been a godsend, less paper, the time has been cut significantly, not only that we can track things a lot easier. “
Samantha has been working for the QSR Group Inc. for over four years. In that time, the Tim Hortons and Wendy’s franchisee has grown their store count to 55 today, and is looking to continue their growth into the future. Unfortunately, the accounts payable process hasn’t changed since they were operating a handful of stores. This has resulted in a non-scalable inefficient process that takes hours to process and wastes tonnes of paper. As the store count has grown, the accounts payable team has remained the same from a headcount perspective but the employees have taken on an extra workload that is now stretching the team. Their only option to scale their AP team would have been to add additional staff.
Now with factura.ai their accounts team is working efficiently and is so productive they can work on other assignments within accounting. They are in a good state to scale their business from 55 stores to 100 and beyond without having to add additional AP individuals. Factura.ai catches all duplicate invoices and eliminates duplicate approvals while allowing her to keep track of the status of every invoice in the process. And best of all for Samantha, they are now environmentally friendly eliminating the need to print anything.
Jackie Simancas, Accounts Payable Coordinator, QSR Group Inc.
“It has made my job so much better. Greatest AP system ever invented. I love it. The benefits of this system is that it is so efficient at processing a daily high volume of invoices.”
Jackie was working 10 to 15 hours a day, 5 days a week to keep up with the growing number of invoices. She spent countless hours performing data entry but also emailing the store managers for approval requests. While waiting for their approvals she would have to print out the approved invoices to be filed away. The process was so inefficient that she would sometimes miss her 3 day cut off during month end to close the books. Frustrated, she didn’t know how much longer she could go on working at QSR Group Inc.
Now with factura.ai, she is so efficient that she works normal working hours and has time to work on other accounting assignments outside of accounts payable. Not only that, she finishes her portion of closing the books within 2 days, even though she has 3 days to complete. She discovered the boost in her productivity within her first two days of using factura.ai. She is ecstatic about how factura.ai has helped her perform her job better which has provided her with a greater outlook on her job satisfaction.
12x productivity improvement in the first month
The table above depicts actual productivity gains from QSR Group Inc.
Trusted by multi-unit operators of
Here’s the truth
- It’s possible to boost your employee productivity by 12x and measure the ROI within a month by providing your employees with the right tools.
- Unfortunately, most operators hesitate to invest in technology because of the perception of adding on extra costs, allocating resources for implementation, changing current processes and the need to train staff.
- We are the only ones dedicated to solving this problem for multi-unit QSR restaurants with 10 or more locations.
- We have simplified the process transformation and can onboard your entire organization onto the platform within two weeks.
- You will see an immediate increase in productivity, employee satisfaction and measurable ROI all within the first month, or less.
Digitize The Way You Receive Vendor Invoices
- Receive invoices in various forms, paper, EDI, etc.
- Multiple processes depending on the format the vendor send the invoice
- Funnel all invoices into a singular process
- Turn every document into a digital form (snap a picture)
- Expensive when using couriers
- Head office will receive the invoices almost instantaneously.
- Eliminates the bottleneck
- Eliminate 100% the costs of courier fees and paper costs.
Digitizing the way you receive invoices will save your organization hours and expenses related to couriering and paper costs.
Removing bottlenecks in the accounts payable process such as initially receiving the invoice sets an expedited pace for the entire AP process and saves thousands of dollars.
Automate All Data Entry
- Manually enter the necessary information from the invoice into your accounting and inventory management systems.
- Automated data extraction where the technology reads the invoice
- Knows which data is needed to be prepared for your systems
- Excruciatingly slow
- Not scalable
- One of the most unsatisfying jobs
- Good chance at some point you have double paid a vendor due to duplicate invoices
- Happy, more productive employees can be utilized in other value-added assignments within the company.
- Eliminates data entry errors and duplicate invoices, saving the company money.
- Greater likelihood that you will pay your vendors on time eliminating any additional late fees.
Your employees want to work on value-added assignments that make them feel productive and that they are a contributing member of the team.
Using accounts payable automation software saves thousands of dollars in erroneous payments to vendors including duplicate payments and late fees and results in more productive happier employees.
- Every business has their unique approval workflow process
- AP requests, tracks, follows up to ensure the invoice gets approved.
- Technology takes over the all tasks to manage approvals
- The system notifies all approvers and sends follow up notification if it isn’t completed within a certain time
- Long approval times as approvers are performing their duties, their priorities are not administrative work
- Miss cut off dates for month end closes
- Time-consuming for AP to obtain approvals
- Lowest satisfaction job in AP
- Frees up AP time to work on other assignments
- Faster approval times
- Close your books within your cut off time.
Technology that completely eliminates tasks is the optimal productivity application.
You don’t have to wait for AP to start the approval process which could take days from the time an invoice is received to the time they get around to requesting an approval. Now, the process kicks off within seconds of the invoice being received, once again saving time and money.
- A typical approval workflow involves the approver needing to print out the invoice for review
- Signs the invoice
- Scans the invoice
- Walks invoice or emails it to accounting
- The approver gets notified via an email with a link to the invoice
- Approves and communicates within the application
- Administrative work is time-consuming and a distraction
- Unaware of the time-sensitivity to pay the vendor on time or to close the monthly books
- They procrastinate creating a very inefficient and long approval process.
- Efficient and faster approval turnaround
- See all outstanding invoices in one spot
- Simplified process increases the likelihood to perform the task
- Eliminates printing
- Approve remotely
Managers should be spending more time on managing without interruption from administrative tasks.
Making the job easier for management makes them happier and more productive which transfers down to their subordinates and improves overall operations.
- The AP individual needs to research through files to catch a duplicate invoice.
- Most duplicate files slip through the cracks as it is hard to keep track of every invoice when monitoring things manually
- An automated invoice management system will catch duplicate invoices
- Notifies AP to disregard the duplicate invoice from the process.
- Double-paying vendors
- Double counting in the financial accounting records.
- Businesses save money by not paying vendors twice
- Ensures accurate financial records within their accounting system
You will feel relieved knowing you are never paying more to a vendor than the agreed upon cost.
1/3rd of businesses have experienced paying a vendor more than once for the same invoice which is an expense that is 100% preventable but frequently occurs due to human error.
- AP to gather information from the approver to understand why they are rejecting the invoice due to an exception
- Hard to get in touch with the approvers as they are busy working in a store managing the business
- According to the IOFM 17% of invoices result in an exception
- AP and approvers communicate directly in the application where they can leave notes with the invoice as to why they are rejecting the invoice.
- The AP individual doesn’t need to track down the approver and can take a screenshot of the invoice and the notes and email directly to the vendor to get resolved
- More paper handling and manual keying
- Delays invoice approvals (which result in late-payment penalties, and missed early-payment discount opportunities).
- A more streamlined process that saves time
- Saves money
- Improves vendor relationships (paying on time)
Dealing with exceptions sidelines your team from focusing on tasks that move the operation forward.
Dealing with exceptions used to mean it was going to cost you more in late fees or not being able to take advantage of early payment incentives. You work hard for your money and it is better in your pocket than your vendors.
- Both AP and the approvers need to print copies of the invoice to be filed for record keeping or for approvals
- Digitization is key for automation
- Killing many trees.
- Staff cringe every time they have to print out anything.
- A completely paperless AP process for your entire organization.
Saving forests is the environmentally conscious way of running a business today
Your employees and the environment will thank you.
- Need to look through a filing cabinet for the paper copy
- Cloud based system that stores all historical invoices
- Ability to search within the application by vendor name, date range, approver, etc.
- Time consuming to search through filing cabinets
- If invoices are stored away it is even harder to retrieve
- Anyone within the organization can find any invoice within seconds
Tasks that provide no value to the company is a complete waste of money.
It’s so much easier to search for electronic files by criteria than to sort through filing cabinets.
- New staff need to be trained on their process (AP vs. Store Manager)learn the process
- Revolving door
- Simplifying the processes makes onboarding quick to understand what they need to do to approve or reject an invoice
- It takes time to learn a new process and the more complicated it is, the longer it takes.
- Prone to mistakes and may require further training
- As the application is so simple to understand, anyone can be trained in a few minutes at the store level
- Within an hour at the AP level
Simple products require less training resulting in a faster onboarding process.
The faster you can get new employees trained, the faster they are going to produce. The easier the task is to learn they will become proficient at it with less mistakes.
Now, if you wanted to get this job done before using factura.ai…
You could develop your own accounts payable automation management system.
But, it will cost hundreds of thousands of dollars, even if you use overseas developers and will take years to develop.
You could use a semi-automated AP solution like Bill.com or Sage Inttact.
But, you are still going to have to manually route the invoice to the right individual for approval. No wonder their customers only see a 50% (Bill.com) and 65% (Sage Intacct) time saving on their website.
You could use an expensive AP automation platform like PlateIQ, xtraCHEF, Beanworks.
You could use an AP automation platform meant for one location like Yooz
They are going to set up an email address per store location, as their platform doesn’t know how to automatically route invoices to the store by reading the address from the invoice.
you can use factura.ai and achieve a streamlined, hyper efficient accounts payable process made for multi-location businesses that will save 90% of the time, all for a low monthly fee and without any setup fees.
Doesn’t better and cheaper sound great?
Working with factura.ai
Here’s what is going to happen when you work with us:
You will be up and running with your entire organization within 2 week.
You will boost your employee productivity by 12x within the first month or less.
You will be able to grow your store count without adding additional accounting human resources.
You will be proud that you invested in technology that your employees love to use.
You can finally get rid of manual tedious tasks like data entry, eliminating data errors, duplicate payments and late fees to vendors.
You can forget about killing trees.
You will never fall behind on closing your monthly accounting books.
You are probably paying $395 per location per month processing invoices. Multiply that by the number of locations you operate and the costs run in the hundreds of thousands annually.
On average, you will spend a fraction of the cost you are currently paying. We do it by charging a flat monthly fee, like Netflix.
Autonomous Data Extraction
Autonomous Approval Workflow
$395 of value per location per month
You will achieve a crazy ROI in your first month.
If you aren’t completely satisfied with factura.ai in the first 90 days, there is a 100% money back guarantee.
Digital conversion capabilities
Autonomous data extraction
Autonomous approval workflow
Lifetime of invoice storage
Smart duplicate detection
Unlimited training & support
90 day 100% money back guarantee
All for a low monthly fee starting at $50 per location per month