Today, digital transformation has become a deciding factor in the success or failure of many businesses. In this context, Guardian, one of the leading retail store chains belonging to DFI Retail Group, faced the challenges of the digital age and sought solutions to automate the input invoice payment process ( AP Automation).
Guardian has joined hands with Bizzi and Teibto to solve most of the difficulties being encountered with the desire to cooperate and develop sustainably.
Guardian – Retail chain covering Vietnam
Guardian, with more than 100 stores and online shopping channels, has quickly become a popular and trusted retail brand in Vietnam. Starting in 2011, Guardian quickly expanded its presence in major cities and online shopping channels across the country. With the vision of providing quality health care and beauty products from more than 500 famous brands around the world, Guardian is not only a place to shop but also a reliable address to find health care products. Top personal care and beauty.
Guardian's extensive coverage is not only concentrated in big cities but also extends to different provincial areas, helping customers easily access and experience quality services. With online sales, Guardian also gives consumers flexible and convenient choices.
Digital transformation challenges and efforts
With its rapid growth, it is understandable that Guardian is facing many difficulties. At that time, the Guardian team had to process a huge amount of invoices every day. Faced with large volumes of invoices and fragmented data, Guardian came to the realization that automation could be the key to overcoming these challenges. This is also the general situation for the entire retail industry.
The manual invoice processing process makes tasks that are simply repetitive but have many potential errors and risks, posing performance and accuracy challenges for this industry. Specifically, with Guardian, the accounting team has to manually compare thousands of invoices every day. Checking each information on invoices from 180 different suppliers is not only a job that requires high precision but also requires a lot of time and manpower.
Because each supplier has a different invoice model, there are no certain standards. In addition, the number of documents, invoices and receipts also poses problems for Guardian in terms of printing costs, storage capacity and management.
“At that time, we had not yet found a comprehensive corporate management system, so the company's operating efficiency was not optimal.” – CEO Guardian shared.
All of these challenges simultaneously create pressure on the problem of increasing costs and reducing work efficiency of the Guardian team. Therefore, converting and automating AP to reduce errors and ensure accuracy and efficiency is urgent.
Ready to join hands with Bizzi and Teibto to automate the input invoice payment process
Faced with these challenges, Guardian did not hesitate to integrate with the digital transformation trend by working closely with Bizzi and Teibto (Oracle Netsuite solution provider). These two partners are not only leading experts in automation solutions but also powerful allies, helping Guardian adjust business processes effectively.
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Representatives of Bizzi and Guardian
Bizzi and Oracle Netsuite solutions from partner Teibto help Guardian ensure accuracy and transparency, while minimizing tax risks. Guardian's invoice payment process is streamlined and automated, supporting supplier payments on time with accurate liabilities. From there, it meets the need for scale expansion while still ensuring financial processes - strict cost optimization.
- Automating Accounting and Finance Operations:
Automation technology has helped Guardian control costs and automatically process large volumes of information, significantly reducing risks and errors from manual tasks.
- Strict Cost Management:
Bizzi and Oracle NetSuite have helped Guardian automatically process invoices, orders, and warehouse receipts, thereby controlling and managing costs effectively and flexibly.
- Data Integration and Reporting:
The integration between Bizzi and Oracle NetSuite has created a centralized data management system and full reporting, updated in real time, giving Guardian an overview and detail of its financial activities. .
As a consulting and implementation unit, Bizzi and Teibto have supported Guardian to operate the system smoothly and smoothly to help comprehensively manage the business: Manage purchases to pay with suppliers; Inventory management; Management from bookkeeping to reporting; Fixed asset management; Financial reporting according to Vietnamese accounting standards; Integrate with cross-party systems.
The results of the collaboration between Guardian, Bizzi, and Oracle NetSuite far exceeded expectations. Through the digital transformation journey, Guardian has achieved remarkable efficiency in the input invoice payment process. More than 95% of input invoices are automatically processed and reconciled, reducing invoice processing costs by 70%. Invoice processing time is only 1-2 seconds per invoice, opening up space for Guardian to focus on strategic activities and innovation in an increasingly competitive business environment.
Guardian's successful journey is not only a story of overcoming challenges, but also a clear testament to the power of collaborating with the right partners in today's digital transformation landscape.
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